Skip to main content
HR 19 104th Congress House Finance and Financial Sector Administrative procedure American investments Bank holding companies Bank mergers Commerce Congress Congressional reporting requirements Department of the Treasury Dispute settlement EEC countries Europe European Union Exports Foreign Trade and International Finance Foreign corporations Government Operations and Politics Independent regulatory commissions Insurance companies International Affairs

Fair Trade in Financial Services Act of 1995

Introduced: January 4, 1995 See on congress.gov
Sign in to write a letter Sign in to watch
 Everywhere this bill has been 7 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 21, 1995
Referred to the Subcommittee on Telecommunications and Finance, for a period to be subsequently determined by the Chairman.
Feb 21, 1995
Referred to the Subcommittee on Commerce, Trade, and Hazardous Materials, for a period to be subsequently determined by the Chairman.
Jan 27, 1995
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Jan 27, 1995
Referred to the Subcommittee on Domestic and International Monetary Policy.
Jan 20, 1995
Referred to the Subcommittee on Trade.
Jan 4, 1995
Referred to the Committee on Banking and Financial Services, and in addition to the Committees on Commerce, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Jan 4, 1995
Introduced in House
 Plain-English summary Congressional Research Service

Fair Trade in Financial Services Act of 1995 - Directs the Secretary of the Treasury (the President in the case of insurance organizations) to identify foreign countries that may be denying national treatment to U.S. banking and securities organizations and determine whether such possible denial may be having a significant adverse effect on them. Requires the Secretary and the President, when making such determinations, to: (1) consider specified factors; and (2) initiate negotiations (through the U.S. Trade Representative, in the President's case) with such foreign country to ensure that it accords national treatment to such U.S. organizations upon the determination of such possible denial.

Authorizes the Secretary to recommend to the appropriate Federal regulatory agency that it suspend consideration of, or deny a request for, authorization filed by a person of a foreign country determined to have denied such national treatment. Authorizes the President to recommend similar action to the Secretary with respect to the registration of alien insurance organizations. Prohibits such sanctions with respect to any request for authorization filed by specified U.S. depository institutions, securities organizations, or alien insurance organizations which do business in the United States as of a specified date (reciprocal grandfather exemptions).

Requires the Secretary (the President with respect to insurance organizations) to report annually to the Congress on foreign countries that deny national treatment to such U.S. organizations.

Prohibits alien insurance organizations from engaging in insurance activities within the United States unless certain registration and related State requirements have been met.

What's happening now February 21, 1995

Referred to the Subcommittee on Telecommunications and Finance, for a period to be subsequently determined by the Chairman.

 Committees of jurisdiction 8