Financial Services Competitiveness Act

Summary

Financial Services Competitiveness Act - Sets as a prerequisite for the establishment of a diversified financial services holding company (DFSHC) compliance with the notice and procedural requirements prescribed by the Board of Governors of the Federal Reserve System (the Board) pursuant to this Act. States that a noncomplying company shall cease to be a DFSHC as of its date of noncompliance. Amends the Bank Holding Company Act of 1956, the Home Owners' Loan Act, and the Banking Act of 1933 to exclude from their purview financial services institution holding companies (and their affiliates) that have filed notice with the Board pursuant to this Act. Subjects a DFSHC to the acquisition and capitalization requirements of the Federal Deposit Insurance Act. Prescribes capitalization guidelines for an undercapitalized insured depository institution subsidiary of a DFSHC (including conservatorship and divestiture orders). Prohibits any Federal banking agency from imposing capital requirements upon a DFSHC. Subjects a DFSHC to the: (1) insider lending restrictions of the Federal Reserve Act; and (2) tying restrictions of the Bank Holding Company Act Amendments of 1970. Prescribes guidelines for regulatory oversight by the appropriate Federal banking agencies, including criminal and civil penalties for violations of this Act.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 12 August 1994

   Introduced

   Referred to the House Committee on Banking, Finance + Urban Affrs.

   Source: IntroReferral

2. 12 August 1994

   Introduced

   Introduced in House

   Source: IntroReferral

3. 12 August 1994

   Introduced

   Sponsor introductory remarks on measure. (CR H8041-8044)

   Source: IntroReferral

4. 12 August 1994

   Introduced

   Introduced in House

   Source: IntroReferral

5. 30 August 1994

   Referred

   Referred to the Subcommittee on Financial Institutions Supervision, Regulation and Deposit Insurance.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 12 August 1994 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 12 August 1994

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 12 August 1994

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 12 August 1994

  Open at official source

  Leesvertaling

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  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Neal, Stephen L. [D-NC-5] · D · Sponsor
• Rep. McCollum, Bill [R-FL-8] · R · Sponsor
• Rep. LaFalce, John J. [D-NY-29] · D · Sponsor
• Rep. Frank, Barney [D-MA-4] · D · Sponsor
• Rep. LaRocco, Larry [D-ID-1] · D · Sponsor
• Rep. Orton, Bill [D-UT-3] · D · Sponsor
• Rep. Dooley, Calvin M. [D-CA-20] · D · Sponsor
• Rep. Ridge, Thomas J. [R-PA-21] · R · Sponsor
• Rep. Baker, Richard H. [R-LA-6] · R · Sponsor
• Rep. King, Peter T. [R-NY-2] · R · Sponsor
• Rep. Furse, Elizabeth [D-OR-1] · D · Cosponsor
• · hsif00 · Standing
• · hsba00 · Standing

Related records

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