Bill116th CongressFiled May 28, 2020Finance and Financial Sector
H.R. 7046
To amend the Bank Holding Company Act of 1956 to place certain limitations on commodity ownership and to repeal the merchant banking authority, and for other purposes.
Bill journey · stage 2 of 5
Under committee review
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What it doesSummary introduced in house (May 28, 2020)
This bill limits the types of investment activities banks are allowed to engage in, including certain merchant banking activities and commodities ownership.
Additionally, the bill finalizes the Federal Reserve Board's proposed rule published September 30, 2016, regarding physical commodity trading activities conducted by financial holding companies.
What just happenedMay 28, 2020
Referred to the House Committee on Financial Services.
Who’s behind it
Rep. Casten, Sean [D-IL-6](D-IL)Sponsor
1committees3actions6subjects
- Introduced in HouseMay 28, 2020
- May 28, 2020IntroReferralH11100
Referred to the House Committee on Financial Services.
Financial Services Committee - May 28, 2020IntroReferralIntro-H
Introduced in House
- May 28, 2020IntroReferral1000
Introduced in House