H.R.4813 - Keep Big Tech Out Of Finance Act116th Congress (2019-2020)
|Sponsor:||Rep. Garcia, Jesus G. "Chuy" [D-IL-4] (Introduced 10/23/2019)|
|Committees:||House - Financial Services; Agriculture|
|Latest Action:||House - 11/13/2019 Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit. (All Actions)|
This bill has the status Introduced
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Summary: H.R.4813 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in House (10/23/2019)
Keep Big Tech Out Of Finance Act
This bill generally prohibits certain large technology companies (e.g., social media platforms) from offering financial services. Specifically, these companies may not be a financial institution; be affiliated with a financial institution; or establish, maintain, or operate a digital currency.
The bill provides for a one-year wind-down period for a company engaging in these prohibited activities.