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On April 20, 2022, Senator Patty Murray said that the banking amendment was likely to get passed in the America COMPETES Act "in a little over a month" through conference committee negotiations. [35] Murray became the third-ranking member of the party in control of the U.S. Senate in 2016, [ 36 ] and is a member of the conference committee.
[4] Related legislation was passed in the Bank Holding Act of 1970, which gave regulatory powers to the Federal Reserve to cap bank sizes, but it was weakly enforced. [4] A previous (1994) law limited a bank's total deposits to less than 10% of the nation's total, but waivers were issued to JPMorgan Chase, Wells Fargo, and Bank of America. [9]
Bill passed after senators rejected 11 proposed amendments
Following Silicon Valley Bank's collapse, Sen. Elizabeth Warren and Rep. Katie Porter have a bill to restore bank regulations undone under then-President Trump. Democrats, led by Warren and Porter ...
Provisions of the 1933 Banking Act that were later repealed or replaced include (1) Sections 5(c) and 19, which required an owner of more than 50% of a Federal Reserve System member bank's stock to receive a permit from (and submit to inspection by) the Federal Reserve Board to vote that stock (replaced by the Bank Holding Company Act of 1956 ...
Bill co-sponsor Sen. Chuck Grassley of Iowa said: “The American people ought to be able to spend their money how they choose without the possibility that every transaction could be tracked by ...
Sen. Carter Glass (D–Va.) and Rep. Henry B. Steagall (D–Ala.-3), the co-sponsors of the Glass–Steagall Act. The sponsors of both the Banking Act of 1933 and the Glass–Steagall Act of 1932 were southern Democrats: Senator Carter Glass of Virginia (who by 1932 had served in the House and the Senate, and as the Secretary of the Treasury); and Representative Henry B. Steagall of Alabama ...
To amend the Inspector General Act of 1978 to strengthen the independence of the Inspectors General, and for other purposes Pub. L. 114–317 (text) 114-318: December 16, 2016 Federal Property Management Reform Act of 2016: To improve the Government-wide management of Federal property Pub. L. 114–318 (text) 114-319: December 16, 2016