3.0.0 790 2023-01-11T13:35:02Z 2023-01-11T13:35:02Z House HR 2017-02-01 115 [Congressional Record Volume 163, Number 17 (Wednesday, February 1, 2017)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Ms. KAPTUR:H.R. 790.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clause 18:To make all Laws which shall be necessary and proper forcarrying into Execution the foregoing Powers, and all otherPowers vested by this Constitution in the Government of theUnited States, or in any Department or Officer thereof.[Page H878]]]> hsba00 Financial Services Committee House Standing Referred to 2017-02-01T15:02:10Z 2017-02-03 Sponsor introductory remarks on measure. (CR E139) IntroReferral B00100 9 Library of Congress 2017-02-01 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2017-02-01 Introduced in House IntroReferral Intro-H 9 Library of Congress 2017-02-01 Introduced in House IntroReferral 1000 9 Library of Congress K000009 Rep. Kaptur, Marcy [D-OH-9] MARCY KAPTUR D OH 9 N L000562 Rep. Lynch, Stephen F. [D-MA-8] Stephen Lynch D MA F. 8 2017-02-01 True R000577 Rep. Ryan, Tim [D-OH-13] TIM RYAN D OH 13 2017-02-01 True P000607 Rep. Pocan, Mark [D-WI-2] Mark Pocan D WI 2 2017-02-01 True D000216 Rep. DeLauro, Rosa L. [D-CT-3] ROSA DELAURO D CT 3 2017-02-01 True N000147 Del. Norton, Eleanor Holmes [D-DC-At Large] ELEANOR NORTON D DC HOLMES 0 2017-02-01 True S001145 Rep. Schakowsky, Janice D. [D-IL-9] JANICE SCHAKOWSKY D IL D. 9 2017-02-01 True D000482 Rep. Doyle, Michael F. [D-PA-14] MIKE DOYLE D PA 14 2017-02-01 True S000480 Rep. Slaughter, Louise McIntosh [D-NY-25] LOUISE SLAUGHTER D NY M. 25 2017-02-01 True J000255 Rep. Jones, Walter B., Jr. [R-NC-3] WALTER JONES R NC B. 3 2017-02-01 True W000800 Rep. Welch, Peter [D-VT-At Large] Peter Welch D VT 0 2017-02-01 True W000822 Rep. Watson Coleman, Bonnie [D-NJ-12] Bonnie Watson Coleman D NJ 12 2017-02-01 True S000248 Rep. Serrano, Jose E. [D-NY-15] JOSE SERRANO D NY E. 15 2017-02-01 True L000563 Rep. Lipinski, Daniel [D-IL-3] Daniel Lipinski D IL William 3 2017-02-01 True G000559 Rep. Garamendi, John [D-CA-3] John Garamendi D CA 3 2017-02-01 True S001175 Rep. Speier, Jackie [D-CA-14] Jackie Speier D CA 14 2017-02-01 True E000288 Rep. Ellison, Keith [D-MN-5] Keith Ellison D MN 5 2017-02-01 True C000714 Rep. Conyers, John, Jr. [D-MI-13] JOHN CONYERS D MI 13 2017-02-01 True G000571 Rep. Gabbard, Tulsi [D-HI-2] Tulsi Gabbard D HI 2 2017-02-01 True G000551 Rep. Grijalva, Raúl M. [D-AZ-3] Raúl Grijalva D AZ M. 3 2017-02-01 True T000469 Rep. Tonko, Paul [D-NY-20] Paul Tonko D NY 20 2017-02-01 True M000312 Rep. McGovern, James P. [D-MA-2] JAMES MCGOVERN D MA P. 2 2017-02-01 True D000191 Rep. DeFazio, Peter A. [D-OR-4] PETER DEFAZIO D OR A. 4 2017-02-01 True L000551 Rep. Lee, Barbara [D-CA-13] BARBARA LEE D CA 13 2017-02-01 True C001037 Rep. Capuano, Michael E. [D-MA-7] MICHAEL CAPUANO D MA E. 7 2017-02-01 True P000597 Rep. Pingree, Chellie [D-ME-1] Chellie Pingree D ME 1 2017-02-01 True F000455 Rep. Fudge, Marcia L. [D-OH-11] Marcia Fudge D OH L. 11 2017-02-01 True C001068 Rep. Cohen, Steve [D-TN-9] Steve Cohen D TN 9 2017-02-14 False L000579 Rep. Lowenthal, Alan S. [D-CA-47] Alan Lowenthal D CA S. 47 2017-02-14 False D000096 Rep. Davis, Danny K. [D-IL-7] DANNY DAVIS D IL K. 7 2017-02-14 False K000389 Rep. Khanna, Ro [D-CA-17] Ro Khanna D CA 17 2017-02-14 False Y000062 Rep. Yarmuth, John A. [D-KY-3] John Yarmuth D KY A. 3 2017-02-14 False J000298 Rep. Jayapal, Pramila [D-WA-7] Pramila Jayapal D WA 7 2017-03-08 False S001180 Rep. Schrader, Kurt [D-OR-5] Kurt Schrader D OR 5 2017-03-08 False B001227 Rep. Brady, Robert A. [D-PA-1] ROBERT BRADY D PA A. 1 2017-03-08 False B000574 Rep. Blumenauer, Earl [D-OR-3] EARL BLUMENAUER D OR 3 2017-03-08 False T000465 Rep. Tsongas, Niki [D-MA-3] Niki Tsongas D MA 3 2017-03-08 False V000108 Rep. Visclosky, Peter J. [D-IN-1] PETER VISCLOSKY D IN J. 1 2017-03-08 False W000799 Rep. Walz, Timothy J. [D-MN-1] Timothy Walz D MN J. 1 2017-03-17 False D000399 Rep. Doggett, Lloyd [D-TX-35] LLOYD DOGGETT D TX 35 2017-03-17 False G000535 Rep. Gutierrez, Luis V. [D-IL-4] LUIS GUTIERREZ D IL V. 4 2017-04-06 False N000179 Rep. Napolitano, Grace F. [D-CA-32] GRACE NAPOLITANO D CA F. 32 2017-04-06 False P000258 Rep. Peterson, Collin C. [D-MN-7] COLLIN PETERSON D MN C. 7 2017-04-06 False R000486 Rep. Roybal-Allard, Lucille [D-CA-40] LUCILLE ROYBAL-ALLARD D CA 40 2017-05-04 False C001077 Rep. Coffman, Mike [R-CO-6] Mike Coffman R CO 6 2017-05-04 False R000606 Rep. Raskin, Jamie [D-MD-8] Jamie Raskin D MD 8 2017-05-04 False N000127 Rep. Nolan, Richard M. [D-MN-8] RICHARD NOLAN D MN 8 2017-05-04 False N000002 Rep. Nadler, Jerrold [D-NY-10] JERROLD NADLER D NY 10 2017-05-04 False B001300 Rep. Barragan, Nanette Diaz [D-CA-44] Nanette Barragan D CA Diaz 44 2017-05-19 False C001084 Rep. Cicilline, David N. [D-RI-1] David Cicilline D RI N. 1 2017-05-19 False G000553 Rep. Green, Al [D-TX-9] Al Green D TX 9 2017-06-08 False G000410 Rep. Green, Gene [D-TX-29] GENE GREEN D TX 29 2017-06-08 False E000215 Rep. Eshoo, Anna G. [D-CA-18] ANNA ESHOO D CA G. 18 2017-06-16 False J000032 Rep. Jackson Lee, Sheila [D-TX-18] SHEILA JACKSON LEE D TX 18 2017-07-13 False D000623 Rep. DeSaulnier, Mark [D-CA-11] Mark DeSaulnier D CA 11 2017-07-19 False S001177 Del. Sablan, Gregorio Kilili Camacho [D-MP-At Large] Gregorio Sablan D MP Kilili Camacho 0 2017-07-24 False L000397 Rep. Lofgren, Zoe [D-CA-19] ZOE LOFGREN D CA 19 2017-07-27 False S001200 Rep. Soto, Darren [D-FL-9] Darren Soto D FL 9 2017-09-27 False L000586 Rep. Lawson, Al, Jr. [D-FL-5] Al Lawson D FL 5 2018-02-08 False B001292 Rep. Beyer, Donald S., Jr. [D-VA-8] Donald Beyer D VA S. 8 2018-07-17 False Finance and Financial Sector Administrative remedies Banking and financial institutions regulation Corporate finance and management Department of the Treasury Federal Reserve System Federal appellate courts Federal district courts Financial services and investments Securities Supreme Court Finance and Financial Sector 00 2017-02-01 Introduced in House 2017-12-18T20:37:48Z Return to Prudent Banking Act of 2017

This bill prohibits an insured depository institution from affiliating with any person or firm engaged principally in, among other things, issuing or selling stocks, bonds, notes, or other securities.

Officers, directors and employees of securities firms are prohibited from simultaneously serving as an officer, director, or employee of a depository institution, except in specified circumstances. Any such individual serving as an officer, director, employee, or other institution-affiliated party of any insured depository institution must terminate such service as soon as practicable after enactment of this bill.

Any affiliation of an insured depository institution with any broker, dealer, investment adviser, or investment company must be terminated as soon as practicable.

No entity issuing or selling stocks, bonds, or other securities may engage in the business of receiving deposits, which includes the establishment and maintenance of transaction accounts, as defined in the Federal Reserve Act.

This bill declares that Congress ratifies the interpretation by the Supreme Court of specified statutory language in Investment Company Institute v. Camp (ICI) regarding permissible activities of banks and securities firms. It further declares that the reasoning of the Court in that case shall continue to apply to the limitations placed upon security affiliations under the Federal Deposit Insurance Act as enacted by this bill. No federal banking agency or federal court shall issue an interpretation regarding such security affiliations that is narrower than that of the court in ICI.

This bill repeals certain provisions of the Gramm-Leach-Bliley Act, including those pertaining to regulation of financial holding companies and the conditions for engaging in financial activities.]]>

Return to Prudent Banking Act of 2017 Display Title Return to Prudent Banking Act of 2017 Official Title as Introduced To repeal certain provisions of the Gramm-Leach-Bliley Act and revive the separation between commercial banking and the securities business, in the manner provided in the Banking Act of 1933, the so-called "Glass-Steagall Act", and for other purposes. Introduced in House IH Short Titles as Introduced Return to Prudent Banking Act of 2017 Introduced in House 2017-02-01T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115hr790ih/xml/BILLS-115hr790ih.xml 2017-02-03 Sponsor introductory remarks on measure. (CR E139) 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.