S. 1709: 21st Century Glass-Steagall Act of 2015

Introduced:

Jul 7, 2015

Status:

Referred to Committee on Jul 7, 2015

This bill was assigned to a congressional committee on July 7, 2015, which will consider it before possibly sending it on to the House or Senate as a whole.

Sponsor:

Elizabeth Warren

Senior Senator from Massachusetts

Democrat

Text:

Read Text »
Last Updated: Jul 7, 2015
Length: 36 pages

Prognosis:

1% chance of being enacted (details)

About the bill

Full Title

A bill to reduce risks to the financial system by limiting banks' ability to engage in certain risky activities and limiting conflicts of interest, to reinstate certain Glass-Steagall Act protections that were repealed by the Gramm-Leach-Bliley Act, and for other purposes.

The bill’s titles are written by its sponsor.

Summary

The 21st Century Glass-Steagall Act (S. 1709, H.R. 3054) would prohibit commercial banks insured by the Federal Deposit Insurance Corporation (FDIC) from acting as or affiliating with investment banks.

A commercial bank holds checking and savings accounts and provides loans for customers. These banks are often insured by the FDIC, which provides a safety guarantee for customers of the ...

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History

Jul 7, 2015
 
Introduced

This is the first step in the legislative process.

 
Reported by Committee

 
Passed Senate

 
Passed House

 
Signed by the President

This page is about 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.

Links & tools

Primary Source

Congress.gov

Congress.gov is updated generally one day after events occur. Legislative activity since the last update may not be reflected on GovTrack. Data via congress project.

Citation

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