H.R. 5180 · 116th Congress
Protecting Consumers from Market Manipulation 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
GarcíaSponsor3 cosponsors · 3 D
2 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill prohibits large nonfinancial companies from engaging in financial activities that would result in producing the lower of (1) 5% of the company's revenue, or (2) $1,000,000,000 in revenue. The bill limits the types of investment activities banks are allowed to engage in, including certain merchant banking activities.
What it does: CRS summary · Introduced in House · Nov 19, 2019
Protecting Consumers from Market Manipulation Act
This bill prohibits large nonfinancial companies from engaging in financial activities that would result in producing the lower of (1) 5% of the company's revenue, or (2) $1,000,000,000 in revenue. The bill limits the types of investment activities banks are allowed to engage in, including certain merchant banking activities.
The Financial Stability Oversight Council and the Federal Reserve must report on issues related to digital currency.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Protecting Consumers from Market Manipulation Act
Latest action (Nov 19, 2019): Referred to the House Committee on Financial Services.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Nov 19, 2019
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.