Section 1 Short title
This Act may be cited as the “Fairness for Community Job Creators Act”.
Fairness for Community Job Creators Act
A BILL
To amend a provision of the Bank Holding Company Act of 1956 regarding prohibitions on investments in certain funds to clarify that such provision shall not be construed to require the divestiture of certain collateralized debt obligations backed by trust-preferred securities.
Sec. 2 Rule of construction relating to debt instruments
Section 13 of the Bank Holding Company Act of 1956 (12 U.S.C. 1851) is amended by adding at the end the following new subsection:
“(i) Rule of construction—Nothing in this section shall be construed to require the divestiture of any collateralized debt obligations issued before December 10, 2013, that as of December 10, 2013, are predominantly backed by trust-preferred securities.”