Summary: H.R.4813 — 116th Congress (2019-2020)All Information (Except Text)

There is one summary for H.R.4813. Bill summaries are authored by CRS.

Shown Here:
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.