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H.R. 2585 · 115th Congress

21st Century Glass-Steagall Act of 2017

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IntroducedPassed one chamberPassed both chambersBecame law (gold)Resolution agreed to (full, dark)Failed or vetoed (gray)

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Never voted on. It didn't reach a floor vote before the 115th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

MCD CapuanoSponsor
11 cosponsors · 10 D, 1 R
JCD Conyers KED Ellison GGD Green WJR Jones JMD McGovern END Norton PTD Tonko PWD Welch TGD Gabbard BLD Lee NTD Tsongas

7 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.

This bill amends the Federal Deposit Insurance Act, the Bank Holding Company Act of 1956, the Home Owner's Loan Act, the International Banking Act of 1978, the federal bankruptcy code, and other laws to:

What it does: CRS summary · Introduced in House · May 22, 2017

21st Century Glass-Steagall Act of 2017

This bill amends the Federal Deposit Insurance Act, the Bank Holding Company Act of 1956, the Home Owner's Loan Act, the International Banking Act of 1978, the federal bankruptcy code, and other laws to:

  • limit affiliations between an insured depository institution and any insurance company, securities entity, or swaps entity;
  • restrict the authority of a national banking association to purchase or sell investment securities or stock, invest in certain structured or synthetic products, control or hold an interest in financial subsidiaries, or otherwise engage in nonbanking activities;
  • restrict the authority of a federal savings association to invest in, redeem, or hold shares or certificates issued by an open-end management investment company;
  • limit the authority of a financial holding company to engage in nonfinancial activities;
  • disallow certain foreign banks from engaging in nonbanking activities in the United States;
  • repeal bankruptcy code provisions related to the contractual right to liquidate, terminate, or accelerate certain types of financial instruments; and
  • establish various enforcement and penalty provisions.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: 21st Century Glass-Steagall Act of 2017

Latest action (Jun 23, 2017): Referred to the Subcommittee on Regulatory Reform, Commercial And Antitrust Law.

Policy area: Finance and Financial Sector · Origin: House · Introduced: May 22, 2017

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.