About the bill
The Gramm–Leach–Bliley Act (GLBA), also known as the Financial Services Modernization Act of 1999, (Pub.L. 106–102, 113 Stat. 1338, enacted November 12, 1999) is an act of the 106th United States Congress (1999–2001). It repealed part of the Glass–Steagall Act of 1933, removing barriers in the market among banking companies, securities companies and insurance companies that prohibited any one institution from acting as any combination of an investment bank, a commercial bank, and an insurance company. With the bipartisan passage of the Gramm–Leach–Bliley Act, commercial banks, investment banks, securities firms, and insurance companies were allowed to consolidate. Furthermore, it failed to give to the SEC or any other financial regulatory agency the authority to regulate large investment bank holding companies. The legislation was signed into law by …
Sponsor and status
106th Congress (1999–2000)
Enacted — Signed by the President on Nov 12, 1999
This bill was enacted after being signed by the President on November 12, 1999.
Position statements
History
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Mar 4, 1999
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Ordered Reported
A committee has voted to issue a report to the full chamber recommending that the bill be considered further. Only about 1 in 4 bills are reported out of committee.
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Apr 28, 1999
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Introduced
Bills and resolutions are referred to committees which debate the bill before possibly sending it on to the whole chamber.
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May 6, 1999
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Passed Senate (House next)
The bill was passed in a vote in the Senate. It goes to the House next. |
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Jul 1, 1999
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Alternative Bill —
Passed House (Senate next)
This activity took place on a related bill, H.R. 10 (106th), possibly in lieu of similar activity on S. 900 (106th). |
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Jul 20, 1999
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Passed House
The bill was passed by both chambers in identical form. It goes to the President next who may sign or veto the bill. The vote was without objection so no record of individual votes was made. |
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Jul 20, 1999
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Text Published
Updated bill text was published as of Passed the House with an Amendment. |
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Nov 4, 1999
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Conference Report Agreed to by Senate (House next)
A conference committee was formed, comprising members of both the House and Senate, to resolve the differences in how each chamber passed the bill. The Senate approved the committee's report proposing the final form of the bill for consideration in both chambers. The House must also approve the conference report. |
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Nov 4, 1999
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Rules Change —
Agreed To
This activity took place on a related bill, H.Res. 355 (106th). |
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Nov 4, 1999
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Conference Report Agreed to by House
The bill was passed by both chambers in identical form. It goes to the President next who may sign or veto the bill. |
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Nov 12, 1999
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Enacted — Signed by the President
The President signed the bill and it became law.
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S. 900 (106th) was a bill in the United States Congress.
A bill must be passed by both the House and Senate in identical form and then be signed by the President to become law.
Bills numbers restart every two years. That means there are other bills with the number S. 900. This is the one from the 106th Congress.
This bill was introduced in the 106th Congress, which met from Jan 6, 1999 to Dec 15, 2000. Legislation not passed by the end of a Congress is cleared from the books.
How to cite this information.
We recommend the following MLA-formatted citation when using the information you see here in academic work:
“S. 900 — 106th Congress: Gramm-Leach-Bliley Act.” www.GovTrack.us. 1999. March 29, 2023 <https://www.govtrack.us/congress/bills/106/s900>
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Where is this information from?
GovTrack automatically collects legislative information from a variety of governmental and non-governmental sources. This page is sourced primarily from Congress.gov, the official portal of the United States Congress. Congress.gov is generally updated one day after events occur, and so legislative activity shown here may be one day behind. Data via the congress project.
