# 114-hr-3109: Common Sense Economic Recovery Act of 2015

114-hr-3109, Common Sense Economic Recovery Act of 2015, is a 114th Congress bill sponsored by Rep. Posey, Bill [R-FL-8] (R-FL); status Referred to the House Committee on Financial Services. (as of 2025-11-18).

- Canonical: https://policyrisk.com/legislation/114-hr-3109
- As of: 2025-11-18
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 114-hr-3109
- Congress: 114
- Title: Common Sense Economic Recovery Act of 2015
- Status: Referred to the House Committee on Financial Services.
- Introduced: 2015-07-16
- Sponsor: Rep. Posey, Bill [R-FL-8] (R-FL)
- Cosponsors: 1
- Policy area: Finance and Financial Sector
- Touches household money: no
- Last recorded action: 2025-11-18

## Summary

Common Sense Economic Recovery Act of 2015 This bill cites circumstances under which, for purposes of determining capital requirements or measuring an insured depository institution's capital, such an institution may treat a non-accrual loan as an accrual loan. (Non-accrual [also known as non-performing or doubtful] loans are those on which interest is overdue and full collection of principal is uncertain, and so interest, if it has not been paid in over 90 days, cannot be credited to the bank's revenue account until it has actually been received.) An insured depository institution may treat a non-accrual loan as an accrual loan if: (1) the loan is current, (2) no monthly payment has been more than 30 days delinquent during the previous 6-month period, and (3) loan payments are being made pursuant to the contract terms and all parties agree to any refinances and modifications. A modified or restructured loan may not be treated as a non-accrual loan if the borrower demonstrates the ability to perform on such a loan: (1) over a period of 6 months; or (2) over a period of 3 consecutive payments in the case of a quarterly, semi-annual, or longer repayment schedule. The appropriate federal banking agency is prohibitted from: (1) imposing any additional accounting requirements upon an insured depository institution with respect to a loan treated as an accrual loan under this Act if the result of such requirement would adversely impact measurement of the institution's capital, or (2) requiring an insured depository institution to treat a loan as a non-accrual loan solely because the loan collateral has reduced in value. Any issuer of a security registered under the Securities Exchange Act of 1934 is excluded from the accounting requirements and prohibitions of this Act. The Financial Stability Oversight Council must study how best to prevent the issuance of contradictory guidance to such institutions by federal banking agencies with respect to loan classifications and capital requirements.

## Cosponsors (1)

- Rep. Westmoreland, Lynn A. [R-GA-3] (R-GA), 2015-07-22T00:00:00.000Z

## Related bills

- 114-hr-5621: To posthumously award a Congressional Gold Medal to Lawrence Eugene "Larry" Doby in recognition of his achievements and contributions to American major league…
- 114-hr-5457: To redesignate Gravelly Point Park, located along the George Washington Memorial Parkway in Arlington County, Virginia, as the Nancy Reagan Memorial Park, and…
- 114-hr-5292: Air Traffic Controller Hiring Improvement Act of 2016
- 114-hr-5143: Transparent Insurance Standards Act of 2016
- 114-hr-4816: Small Public Housing Agency Opportunity Act of 2016
- 114-hr-4773: Protecting Workplace Advancement and Opportunity Act

## Sources
- [114-hr-3109 on Congress.gov](https://www.congress.gov/bill/114th-congress/house-bill/3109)

## Related
- [114-hr-5621: To posthumously award a Congressional Gold Medal to Lawrence Eugene "Larry" Dob…](https://policyrisk.com/legislation/114-hr-5621)
- [114-hr-5457: To redesignate Gravelly Point Park, located along the George Washington Memoria…](https://policyrisk.com/legislation/114-hr-5457)
- [114-hr-5292: Air Traffic Controller Hiring Improvement Act of 2016](https://policyrisk.com/legislation/114-hr-5292)
- [114-hr-5143: Transparent Insurance Standards Act of 2016](https://policyrisk.com/legislation/114-hr-5143)
- [114-hr-4816: Small Public Housing Agency Opportunity Act of 2016](https://policyrisk.com/legislation/114-hr-4816)
- [114-hr-4773: Protecting Workplace Advancement and Opportunity Act](https://policyrisk.com/legislation/114-hr-4773)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/114-hr-3109 (as of 2025-11-18).