Limited Purpose Bank Amendments of 1997

Summary

Limited Purpose Bank Amendments of 1997 - Amends the Bank Holding Company Act of 1956 to set forth transactions involving demand deposits, commercial loans, and overdrafts by a bank subsidiary which will cause the parent company to lose its statutory exemption from being treated as a bank holding company. Expands the asset class over which a parent company may exercise more than five percent control without losing such exemption. Repeals the restrictions placed upon banks under such exempt holding companies' control. Permits a parent holding company to retain such exemption if it acquires an insured institution that has been found by Federal or State authority to be undercapitalized. Revises divestiture requirements to cite circumstances under which the parent holding company may regain a lost exemption from treatment as a bank holding company.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 16 May 1997

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• Introduced in House (PDF)

  Introduced in House · EN · 16 May 1997

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• Introduced in House

  summary · EN · 16 May 1997

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