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H.R. 7046 · 116th Congress

To amend the Bank Holding Company Act of 1956 to place certain limitations on commodity ownership and to…

Full title

To amend the Bank Holding Company Act of 1956 to place certain limitations on commodity ownership and to repeal the merchant banking authority, and for other purposes.

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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 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

SCD CastenSponsor

No cosponsors.

This bill limits the types of investment activities banks are allowed to engage in, including certain merchant banking activities and commodities ownership.

What it does: CRS summary · Introduced in House · May 28, 2020

This bill limits the types of investment activities banks are allowed to engage in, including certain merchant banking activities and commodities ownership.

Additionally, the bill finalizes the Federal Reserve Board's proposed rule published September 30, 2016, regarding physical commodity trading activities conducted by financial holding companies.

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

About this bill and sources

Official title: To amend the Bank Holding Company Act of 1956 to place certain limitations on commodity ownership and to repeal the merchant banking authority, and for other purposes.

Latest action (May 28, 2020): Referred to the House Committee on Financial Services.

Policy area: Finance and Financial Sector · Origin: House · Introduced: May 28, 2020

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

No recorded floor vote found.