Banking Geographic Deregulation Act of 1985

Summary

Banking Geographic Deregulation Act of 1985 - Amends the Bank Holding Company Act of 1956 to authorize a State to permit an out-of-State bank holding company to acquire interest in, or voting shares or assets of, a State bank either without restriction or on the basis of: (1) reciprocal treatment for holding companies of such State; or (2) the location of the other States involved, provided that the State must include any contiguous State among any States qualifying by location. Provides that as of May 1, 1987: (1) any State statute restricting bank acquisitions by out-of-State bank holding company companies on the basis of the location of the other States involved shall be null and void; and (2) a State may not amend or repeal a statute permitting acquisitions by out-of-State bank holding companies in order to limit the ability of such a company to qualify in an equal manner for such an acquisition if any acquisition qualifying under such statute has been approved by the Federal Reserve Board.

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

Timeline

1. 1 May 1985

   Introduced

   Read twice and referred to the Committee on Banking.

   Source: IntroReferral

2. 1 May 1985

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

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Versions

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Documents

1 official file

• Introduced in Senate

  summary · EN · 1 May 1985

  Open at official source

Sponsors

• Sen. D'Amato, Alfonse [R-NY] · R · Sponsor
• Sen. Moynihan, Daniel Patrick [D-NY] · D · Sponsor
• · ssbk00 · Standing

Related records

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