US Congress House Bill 4375 (Prior Session Legislation)

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Spectrum: Strong Partisan Bill (Democrat 14-1)
Status: Introduced on December 16 2009 - 25% progression, died in committee
Action: 2009-12-16 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]

Glass-Steagall Restoration Act - 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

Rep. Michael Capuano [D-MA]	Rep. Peter DeFazio [D-OR]	Rep. Maurice Hinchey [D-NY]	Rep. Jay Inslee [D-WA]
Rep. Walter Jones [R-NC]	Rep. Steve Kagen [D-WI]	Rep. Marcy Kaptur [D-OH]	Rep. Daniel Lipinski [D-IL]
Rep. Jim McDermott [D-WA]	Rep. James Moran [D-VA]	Rep. Janice Schakowsky [D-IL]	Rep. John Tierney [D-MA]
Rep. Peter Visclosky [D-IN]	Rep. Diane Watson [D-CA]	Rep. Lynn Woolsey [D-CA]

Date	Chamber	Action
2009-12-16		Referred to the House Committee on Financial Services.

HB4461 (Related) 2010-01-15 - Referred to the House Committee on Financial Services.
SB2886 (Related) 2009-12-16 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Type	Source
Summary	https://www.congress.gov/bill/111th-congress/house-bill/4375/all-info
Text	https://www.congress.gov/111/bills/hr4375/BILLS-111hr4375ih.pdf