US Congress House Bill 2451 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 6-0)
Status: Introduced on July 7 2011 - 25% progression, died in committee
Action: 2011-07-07 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]

Glass-Steagall Restoration Act of 2011 - Amends the Banking Act of 1933 (Glass-Steagall Act) to prohibit a member bank from being affiliated with specified organizations engaged principally in the issue, flotation, underwriting, public sale, or distribution of stocks, bonds, debenture, notes, or other securities. Prohibits the staff and personnel of corporations and partnerships (as well as any individual) primarily engaged in the issue, flotation, underwriting, public sale, or distribution, of stocks, bonds, or other similar securities from serving simultaneously as an officer, director, or employee of any member bank. Authorizes the Board of Governors of the Federal Reserve System to grant an exception in limited classes of cases when in the Board's judgment it would not unduly influence the investment policies of such member bank or the advice it gives its customers regarding investments.

Glass-Steagall Restoration Act of 2011

Rep. Maurice Hinchey [D-NY]	Rep. Michael Capuano [D-MA]	Rep. John Conyers [D-MI]	Rep. Peter DeFazio [D-OR]
Rep. Jay Inslee [D-WA]	Rep. Lynn Woolsey [D-CA]

Date	Chamber	Action
2011-07-07	House	Referred to the House Committee on Financial Services.

Type	Source
Summary	https://www.congress.gov/bill/112th-congress/house-bill/2451/all-info
Text	https://www.congress.gov/112/bills/hr2451/BILLS-112hr2451ih.pdf