3.0.0 3913 2023-01-11T13:27:08Z 2023-01-11T13:27:08Z House H HR 2014-01-16 113 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. DUFFY:H.R. 3913.Congress has the power to enact this legislation pursuantto the following:Article 1, Section 8: To make all Laws which shall benecessary and proper for carrying into Execution theforegoing Powers, and all other Powers vested by thisConstitution in the Government of the United States, or inany Department or Officer thereof.[Page H1242]]]> hsba00 Financial Services Committee House Standing hsba15 Consumer Protection and Financial Institutions Subcommittee Hearings by 2014-07-15T13:18:19Z Markup by 2014-07-30T19:06:56Z Referred to 2014-01-16T15:03:35Z 2014-07-30 hsba00 Financial Services Committee 1 House committee actions Ordered to be Reported by the Yeas and Nays: 32 - 22. Committee 2014-07-30 hsba00 Financial Services Committee 1 House committee actions Committee Consideration and Mark-up Session Held. Committee 2014-07-15 hsba15 Consumer Protection and Financial Institutions Subcommittee 1 House committee actions Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral. Committee 2014-01-16 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2014-01-16 Introduced in House IntroReferral Intro-H 9 Library of Congress 2014-01-16 Introduced in House IntroReferral 1000 9 Library of Congress D000614 Rep. Duffy, Sean P. [R-WI-7] Sean Duffy R WI P. 7 N F000458 Rep. Fincher, Stephen Lee [R-TN-8] Stephen Fincher R TN Lee 8 2014-02-06 False Finance and Financial Sector Administrative law and regulatory procedures Bank accounts, deposits, capital Banking and financial institutions regulation Commodity Futures Trading Commission Competition and antitrust Department of the Treasury Federal Deposit Insurance Corporation (FDIC) Federal Reserve System Financial services and investments National Credit Union Administration Securities and Exchange Commission (SEC) Finance and Financial Sector 00 2014-01-16 Introduced in House 2014-03-19T14:59:49Z Amends the Bank Holding Company Act of 1956 with respect to certain prohibitions against proprietary trading by banking entities and certain relationships of such entities with hedge funds and private equity funds (Volcker rule).

Directs the Commodity Futures Trading Commission (CFTC), the Securities and Exchange Commission (SEC), and the appropriate federal banking agencies, when issuing or modifying any regulation related to such prohibitions, to consider: (1) whether it is necessary or appropriate in the public interest; (2) whether it will promote efficiency, competition, and capital formation; and (3) the impact it would have on competition.

Prohibits such agencies from adopting a regulation that would impose a burden on competition neither necessary nor appropriate in furtherance of the Act.

Directs such agencies to include in the statement of basis and purpose incorporated in the regulation the reasons for determining that any burden on competition imposed by the regulation is necessary or appropriate in furtherance of this Act.

]]> To amend the Bank Holding Company Act of 1956 to require agencies to make considerations relating to the promotion of efficiency, competition, and capital formation before issuing or modifying certain regulations. Display Title To amend the Bank Holding Company Act of 1956 to require agencies to make considerations relating to the promotion of efficiency, competition, and capital formation before issuing or modifying certain regulations. Official Title as Introduced To amend the Bank Holding Company Act of 1956 to require agencies to make considerations relating to the promotion of efficiency, competition, and capital formation before issuing or modifying certain regulations. Introduced in House 2014-01-16T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-113hr3913ih/xml/BILLS-113hr3913ih.xml 2014-07-30 Ordered to be Reported by the Yeas and Nays: 32 - 22. 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.