About the bill
At what size should a bank become subject to federal regulations?
Context
Silicon Valley Bank’s March bankruptcy marked the largest U.S. bank failure since Washington Mutual in 2008. (It also came mere weeks after *Forbes *magazine named Silicon Valley Bank one of the 20 best banks in America.)
Could congressional legislation have prevented the bank’s collapse? Many Democrats say yes.
After the 2008–09 financial crash, Congress under Democratic control enacted the Dodd-Frank Wall Street Reform and Consumer Protection Act. One of its main reforms required financial institutions to meet certain new requirements if they had at least $50 billion in assets, including maintaining adequate levels of cash to cover customers in event of a potential bank failure.
In 2018, Congress under Republican control enacted the Economic Growth, …
Sponsor and status
118th Congress (2023–2025)
Introduced on Mar 15, 2023
This bill is in the first stage of the legislative process. It was introduced into Congress on March 15, 2023. It will typically be considered by committee next before it is possibly sent on to the House or Senate as a whole.
Other activity may have occurred on another bill with identical or similar provisions.
Not available yet.
18 Cosponsors (17 Democrats, 1 Independent)
Position statements
History
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Mar 15, 2023
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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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Passed Committee
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Passed Senate
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Passed House
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Signed by the President
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S. 817 is 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. 817. This is the one from the 118th Congress.
How to cite this information.
We recommend the following MLA-formatted citation when using the information you see here in academic work:
“S. 817 — 118th Congress: A bill to repeal title IV of the Economic Growth, Regulatory Relief, and Consumer Protection ….” www.GovTrack.us. 2023. March 30, 2023 <https://www.govtrack.us/congress/bills/118/s817>
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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.
