H.R. 4375 · 111th Congress
Glass-Steagall Restoration Act
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
HincheySponsor14 cosponsors · 13 D, 1 R
D
DeFazio
JI
D
Inslee
MK
D
Kaptur
JM
D
McDermott
JT
D
Tierney
WJ
R
Jones
DL
D
Lipinski
JM
D
Moran
DW
D
Watson
PV
D
Visclosky
JS
D
Schakowsky
MC
D
Capuano
SK
D
Kagen
LW
D
Woolsey5 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Glass-Steagall Restoration Act - Amends the Banking Act of 1933 (Glass-Steagall Act) to prohibit a member bank from being affiliated with specified organizations engaged principally in the issue, flotation, underwriting, public sale, or distribution of stocks, bonds, debenture, notes, or other securities.
What it does: CRS summary · Introduced in House · Dec 16, 2009
Glass-Steagall Restoration Act - Amends the Banking Act of 1933 (Glass-Steagall Act) to prohibit a member bank from being affiliated with specified organizations engaged principally in the issue, flotation, underwriting, public sale, or distribution of stocks, bonds, debenture, notes, or other securities.
Prohibits the staff and personnel of corporations and partnerships (as well as any individual) primarily engaged in the issue, flotation, underwriting, public sale, or distribution, of stocks, bonds, or other similar securities from serving simultaneously as an officer, director, or employee of any member bank. Authorizes the Board of Governors of the Federal Reserve System to grant an exception in limited classes of cases when in the Board's judgment it would not unduly influence the investment policies of such member bank or the advice it gives its customers regarding investments.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Glass-Steagall Restoration Act
Latest action (Dec 16, 2009): Referred to the House Committee on Financial Services.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Dec 16, 2009
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.