Glass-Steagall Restoration Act

Summary

Glass-Steagall Restoration Act - Amends the Banking Act of 1933 (Glass-Steagall Act) to prohibit a member bank from being affiliated with specified organizations engaged principally in the issue, flotation, underwriting, public sale, or distribution of stocks, bonds, debenture, notes, or other securities. Prohibits the staff and personnel of corporations and partnerships (as well as any individual) primarily engaged in the issue, flotation, underwriting, public sale, or distribution, of stocks, bonds, or other similar securities from serving simultaneously as an officer, director, or employee of any member bank. Authorizes the Board of Governors of the Federal Reserve System to grant an exception in limited classes of cases when in the Board's judgment it would not unduly influence the investment policies of such member bank or the advice it gives its customers regarding investments.

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Timeline

1. 16 December 2009

   Introduced

   Referred to the House Committee on Financial Services.

   Source: IntroReferral

2. 16 December 2009

   Introduced

   Introduced in House

   Source: IntroReferral

3. 16 December 2009

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 16 December 2009 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 16 December 2009

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 16 December 2009

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 16 December 2009

  Open at official source

Sponsors

• Rep. Hinchey, Maurice D. [D-NY-22] · D · Sponsor
• Rep. Inslee, Jay [D-WA-1] · D · Sponsor
• Rep. Tierney, John F. [D-MA-6] · D · Sponsor
• PETER DEFAZIO · D · Sponsor
• Marcy Kaptur · D · Sponsor
• Rep. McDermott, Jim [D-WA-7] · D · Sponsor
• WALTER JONES · R · Cosponsor
• Rep. Watson, Diane E. [D-CA-33] · D · Cosponsor
• Rep. Moran, James P. [D-VA-8] · D · Cosponsor
• Daniel Lipinski · D · Cosponsor
• PETER VISCLOSKY · D · Cosponsor
• Janice Schakowsky · D · Cosponsor
• MICHAEL CAPUANO · D · Cosponsor
• Rep. Kagen, Steve [D-WI-8] · D · Cosponsor
• Rep. Woolsey, Lynn C. [D-CA-6] · D · Cosponsor
• · hsba00 · Standing

Related records

• related to ← Banking Integrity Act of 2010
• related to ← Banking Integrity Act of 2009