US Congress House Bill 2585 (Prior Session Legislation)

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Spectrum: Strong Partisan Bill (Democrat 11-1)
Status: Introduced on May 22 2017 - 25% progression, died in committee
Action: 2017-06-23 - Referred to the Subcommittee on Regulatory Reform, Commercial And Antitrust Law.
Pending: House Subcommittee on Regulatory Reform, Commercial And Antitrust Law Committee
Text: Latest bill text (Introduced) [PDF]

21st Century Glass-Steagall Act of 2017 This bill amends the Federal Deposit Insurance Act, the Bank Holding Company Act of 1956, the Home Owner's Loan Act, the International Banking Act of 1978, the federal bankruptcy code, and other laws to: limit affiliations between an insured depository institution and any insurance company, securities entity, or swaps entity; restrict the authority of a national banking association to purchase or sell investment securities or stock, invest in certain structured or synthetic products, control or hold an interest in financial subsidiaries, or otherwise engage in nonbanking activities; restrict the authority of a federal savings association to invest in, redeem, or hold shares or certificates issued by an open-end management investment company; limit the authority of a financial holding company to engage in nonfinancial activities; disallow certain foreign banks from engaging in nonbanking activities in the United States; repeal bankruptcy code provisions related to the contractual right to liquidate, terminate, or accelerate certain types of financial instruments; and establish various enforcement and penalty provisions.

21st Century Glass-Steagall Act of 2017

Rep. Michael Capuano [D-MA]	Rep. Walter Jones [R-NC]	Rep. Keith Ellison [D-MN]	Rep. Gene Green [D-TX]
Rep. Paul Tonko [D-NY]	Rep. Eleanor Norton [D-DC]	Rep. John Conyers [D-MI]	Rep. James McGovern [D-MA]
Sen. Peter Welch [D-VT]	Rep. Tulsi Gabbard [D-HI]	Rep. Barbara Lee [D-CA]	Rep. Niki Tsongas [D-MA]

Date	Chamber	Action
2017-06-23	House	Referred to the Subcommittee on Regulatory Reform, Commercial And Antitrust Law.
2017-05-22	House	Referred to the Committee on Financial Services, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2017-05-22	House	Referred to the Committee on Financial Services, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2017-05-22	House	Referred to the Committee on Financial Services, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2017-05-22	House	Introduced in House

SB881 (Related) 2017-05-18 - Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-57.

Type	Source
Summary	https://www.congress.gov/bill/115th-congress/house-bill/2585/all-info
Text	https://www.congress.gov/115/bills/hr2585/BILLS-115hr2585ih.pdf