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.

referredUnited States· United States Congress· EN

Introduced

13 March 1979

Last action

—

Status

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

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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Documents

1 official file

Introduced in House
summary · EN · 13 March 1979
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/96th-congress/house-bill/2809
Open data entity: https://api.congress.gov/v3/bill/96/hr/2809