3.0.0 3882 2023-01-13T04:50:09Z 2023-01-13T04:50:09Z House H HR 2005-09-22 109 hsba00 Financial Services Committee House Standing hsba15 Consumer Protection and Financial Institutions Subcommittee Referred to 2005-10-17T20:33:38Z Referred to 2005-09-22T14:02:00Z 2005-10-17 hsba15 Consumer Protection and Financial Institutions Subcommittee 1 House committee actions Referred to the Subcommittee on Financial Institutions and Consumer Credit. Committee 2005-09-22 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2005-09-22 Introduced in House IntroReferral Intro-H 9 Library of Congress 2005-09-22 Introduced in House IntroReferral 1000 9 Library of Congress L000169 Rep. Leach, James A. [R-IA-2] JIM LEACH R IA 2 N R000577 Rep. Ryan, Tim [D-OH-17] TIM RYAN D OH 17 2005-11-04 False B000652 Rep. Boswell, Leonard L. [D-IA-3] LEONARD BOSWELL D IA L. 3 2006-06-13 False S000033 Rep. Sanders, Bernard [I-VT-At Large] Bernard Sanders I VT 0 2006-07-12 False K000362 Rep. King, Steve [R-IA-5] Steve King R IA 5 2006-07-25 False Finance and Financial Sector Bank holding companies Commerce Corporate divestiture Nonbank banks Finance and Financial Sector 00 2005-09-22 Introduced in House 2005-11-01T20:27:42Z Financial Safety and Equity Act of 2005 - Amends the Bank Holding Company Act of 1956 regarding interests in nonbanking organizations to provide that any company that controls an industrial loan company, industrial bank, or similar institution shall become a financial holding company.

Requires such entity to comply with all federal conditions, requirements, restrictions and limitations applicable to a financial holding company.

Grants a five-year divestiture period for nonconforming activities to an entity that: (1) owned or controlled an industrial loan company, industrial bank, or similar institution on January 1, 2005; and (2) was not a bank holding company or a foreign bank on that date.

]]> Financial Safety and Equity Act of 2005 Display Title Financial Safety and Equity Act of 2005 Official Title as Introduced To preserve competitive equity in financial services. Introduced in House IH Short Titles as Introduced Financial Safety and Equity Act of 2005 Introduced in House 2005-09-22T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-109hr3882ih/xml/BILLS-109hr3882ih.xml 2005-10-17 Referred to the Subcommittee on Financial Institutions and Consumer Credit. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.