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Titles (2)

Short Titles

Short Titles - House of Representatives

Short Titles as Introduced

U.S. Financial Services Global Viability Act

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

To make improvements to provisions of the Bank Holding Company Act of 1956 relating to proprietary trading by banking entities.

Actions Overview (1)

12/11/2013Introduced in House

All Actions (2)

12/11/2013Referred to the House Committee on Financial Services.
Action By: House of Representatives
12/11/2013Introduced in House
Action By: House of Representatives

Cosponsors (3)

* = Original cosponsor
CosponsorDate Cosponsored
Rep. Huizenga, Bill [R-MI-2]* 12/11/2013
Rep. Grimm, Michael G. [R-NY-11]* 12/11/2013
Rep. Miller, Gary G. [R-CA-31]* 12/11/2013

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Reports
House Financial Services12/11/2013 Referred to

No related bill information was received for H.R.3701.

Latest Summary (1)

There is one summary for H.R.3701. View summaries

Shown Here:
Introduced in House (12/11/2013)

U.S. Financial Services Global Viability Act - Amends the Bank Holding Company Act of 1956 to delay the effective date for prohibitions or the mandate for related rulemaking against proprietary trading by a banking entity and any equity, partnership, or other ownership interest of a banking entity in or sponsorship of hedge funds or private equity funds. (Currently the effective date of such prohibitions and the mandate to make related regulations is the earlier of 12 months after the date of the issuance of final rules or 2 years after the date of enactment [July 21, 2010].)

Delays the effective date of such prohibitions and regulatory mandate until the Secretary of the Treasury: (1) identifies the foreign countries having foreign banks chartered and headquartered in them that compete significantly with banking entities subject to such Act, and (2) certifies that such countries have applied to such foreign banks (including subsidiaries and affiliates) requirements equivalent to those set forth under such Act.