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Titles (2)

Short Titles

Short Titles - Senate

Short Titles as Introduced

21st Century Glass-Steagall Act of 2017

Official Titles

Official Titles - Senate

Official Titles as Introduced

A bill to reduce risks to the financial system by limiting banks' ability to engage in certain risky activities and limiting conflicts of interest, to reinstate certain Glass-Steagall Act protections that were repealed by the Gramm-Leach-Bliley Act, and for other purposes.


Actions Overview (1)

Date
04/06/2017Introduced in Senate

All Actions (2)

Date
05/18/2017Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-57.
04/06/2017Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Action By: Senate

Cosponsors (8)


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
Senate Banking, Housing, and Urban Affairs04/06/2017 Referred to
05/18/2017 Hearings by

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Latest Summary (1)

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Shown Here:
Introduced in Senate (04/06/2017)

21st Century Glass-Steagall Act of 2017

This bill amends the Federal Deposit Insurance Act, the Bank Holding Company Act of 1956, the Home Owner's Loan Act, the International Banking Act of 1978, the federal bankruptcy code, and other laws to:

  • limit affiliations between an insured depository institution and any insurance company, securities entity, or swaps entity;
  • restrict the authority of a national banking association to purchase or sell investment securities or stock, invest in certain structured or synthetic products, control or hold an interest in financial subsidiaries, or otherwise engage in nonbanking activities;
  • restrict the authority of a federal savings association to invest in, redeem, or hold shares or certificates issued by an open-end management investment company; 
  • limit the authority of a financial holding company to engage in nonfinancial activities;
  • disallow certain foreign banks from engaging in nonbanking activities in the United States;
  • repeal bankruptcy code provisions related to the contractual right to liquidate, terminate, or accelerate certain types of financial instruments; and
  • establish various enforcement and penalty provisions.