H.R. 4813 · 116th Congress
Keep Big Tech Out Of Finance Act
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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
GarcíaSponsorNo cosponsors.
This bill generally prohibits certain large technology companies (e.g., social media platforms) from offering financial services. Specifically, these companies may not be a financial institution; be affiliated with a financial institution; or establish, maintain, or operate a digital currency.
What it does: CRS summary · Introduced in House · Oct 23, 2019
Keep Big Tech Out Of Finance Act
This bill generally prohibits certain large technology companies (e.g., social media platforms) from offering financial services. Specifically, these companies may not be a financial institution; be affiliated with a financial institution; or establish, maintain, or operate a digital currency.
The bill provides for a one-year wind-down period for a company engaging in these prohibited activities.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Keep Big Tech Out Of Finance Act
Latest action (Nov 13, 2019): Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Oct 23, 2019
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.