A bill to amend the Bank Holding Company Act of 1956 to limit the property and casualty and life insurance activities of bank holding companies and their subsidiaries.

Summary

Amends the Bank Holding Company Act of 1956 to prohibit bank holding companies and their subsidiaries from selling insurance as principals, agents, or brokers, except: (1) where the insurance secures an extension of credit in the event of death or disability of the debtor; (2) any insurance activity in a community of less than 5,000 or which has inadequate insurance agency facilities; (3) any insurance activity approved prior to June 6, 1978; or (4) any insurance activity of a bank holding company with less than $50,000,000 in total assets.

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Timeline

1. 13 March 1979

   Introduced

   Referred to House Committee on Banking, Finance and Urban Affairs.

   Source: IntroReferral

2. 13 March 1979

   Introduced

   Introduced in House

   Source: IntroReferral

3. 13 March 1979

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 13 March 1979

  Open at official source

Sponsors

• Rep. Hammerschmidt, John P. [R-AR-3] · R · Sponsor
• Sen. Symms, Steven D. [R-ID] · R · Cosponsor
• · hsba00 · Standing

Related records

• related to → Cash Discount Act