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S. 900: | Gramm-Leach-Bliley Act | 106th Congress 1999-2000 |
An Act to enhance competition in the financial services industry by providing a prudential framework for the affiliation of banks, securities firms, and other financial service providers, and for other purposes. OverviewSponsor: | | Text: | Summary
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Full Text | Status: |  | Introduced | Apr 28, 1999 | | Referred to Committee | View Committee Assignments | | Reported by Committee | Mar 4, 1999 | | Amendments (15 proposed) | View Amendments | | Passed Senate | May 6, 1999 | | Passed House | Jul 20, 1999 | | Differences Resolved | Nov 4, 1999 | | Signed by President | Nov 12, 1999 |
| Last Action: | Nov 12, 1999:
Became Public Law No: 106-102. | Other Titles: | -- Financial Services Modernization bill -- ATM Fee Reform Act of 1999 -- Federal Home Loan Bank System Modernization Act of 1999 -- Prime Act -- Program for Investment in Microentrepreneurs Act of 1999 | Related: | See the Related Legislation page for other bills related to this one and a list of subject terms
that have been applied to this bill.
Sometimes the text of one bill or resolution is incorporated into another, and in those cases the original bill or resolution, as it would appear here, would seem to be abandoned. | Votes: | May 6, 1999:
This bill passed in the Senate by roll call vote.
The totals were 54 Ayes, 44 Nays, 2 Present/Not Voting.
Vote Details.
Jul 20, 1999:
This bill passed in the House of Representatives without objection.
A record of each
representative’s position was not kept. Nov 4, 1999:
After passing both the Senate and House, a conference committee is created to work out differences
between the Senate and House versions of the bill.
A conference report resolving those differences passed in the Senate, paving the way for
enactment of the bill, by roll call vote.
The totals were 90 Ayes, 8 Nays, 2 Present/Not Voting.
Vote Details.
Nov 4, 1999:
After passing both the Senate and House, a conference committee is created to work out differences
between the Senate and House versions of the bill.
A conference report resolving those differences passed in the House of Representatives, paving the way for
enactment of the bill, by roll call vote.
The totals were 362 Ayes, 57 Nays, 15 Present/Not Voting.
Vote Details.
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Question & Answer 
Can you answer any of these questions posed by other users? Think of it as a civic good deed.
You can submit a short question too.
Sep 24, 2008 6:34 PM - Is this the bill that has lead to the financial debaucle facing our nation today, Sept.24,2008, where Congress is querying the Fed Chairman about bailing out Fanny Mae and Feddy Mac? -
Read AnswersAnswered by a visitor on Oct 3, 2008 4:07 AM -
Yup.. this left the door open for our current situation to transpire. http://www.allbusiness.com/legal/laws/675369-1.html?yahss=114-2974554-675369&siap=1 "[..] the Gramm-Leach-Bliley Financial Services Modernization Act (GLBA), repealing after 66 years the Glass-Steagall Act that prohibited cross-sector affiliation between the banking and securities industries. It also repealed the 1956 Bank Holding Company Act, which prohibited unions between the banking and insurance industries." Answered by a visitor on Dec 17, 2009 12:30 PM -
This is a part of it but not the entire reason. You should also read the Community Reinvestment Act of 1977 which forced lenders to lend in certain communities and at certain income levels even if the credit or ability to pay back loans was appropriate. I would also point to the 2005 legislation introduced by John McCain which attempted to further regulate Fannie Mae and Freddy Mac. If introduced, this would have at least somewhat prevented the crisis in its current form. Unfortunately, this legislation was blocked in Congress and never made it to the president's desk. Nov 30, 2008 11:22 AM - how many pages was this GLBA? -
Answer it! |
Because the U.S. Congress posts most legislative information online one legislative day after events occur, GovTrack is usually one legislative day behind. For more information about where this data comes from, see
About GovTrack.us. S. 900--106th Congress: Gramm-Leach-Bliley Act.
(1999).
In GovTrack.us (database of federal legislation).
Retrieved Feb 9, 2010, from
http://www.govtrack.us/congress/bill.xpd?bill=s106-900
"S. 900--106th Congress: Gramm-Leach-Bliley Act."
GovTrack.us (database of federal legislation).
1999.
Feb 9, 2010
<http://www.govtrack.us/congress/bill.xpd?bill=s106-900>
{{cite web
|url=http://www.govtrack.us/congress/bill.xpd?bill=s106-900
|title=S. 900
|accessdate=Feb 9, 2010
|author=106th Congress (1999)
|date=Apr 28, 1999
|work=Legislation
|publisher=GovTrack.us
|quote=Gramm-Leach-Bliley Act
}} | | | |
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