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HR 19 104th Congress House

Fair Trade in Financial Services Act of 1995

Official title: To encourage foreign countries to accord national treatment to United States banking, securities, and insurance organizations that operate or seek to operate in those countries.

Introduced: January 4, 1995 Introduced by: Schumer, Charles E. Democratic · New York See on congress.gov
Finance and Financial Sector Administrative procedureAmerican investmentsBank holding companiesBank mergers
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CommerceCongressCongressional reporting requirementsDepartment of the TreasuryDispute settlementEEC countriesEuropeEuropean UnionExportsForeign Trade and International FinanceForeign corporationsGovernment Operations and PoliticsIndependent regulatory commissionsInsurance companiesInternational Affairs
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This bill died when the 104th Congress ended
It never became law before the 104th Congress (1995–1996) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 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
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 Latest action February 21, 1995

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

 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.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 8
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APA
U.S. Congress. (2026). H.R. 19: Fair Trade in Financial Services Act of 1995. 104th Congress. Open America. https://openamerica.io/bill/104-HR-19/
MLA
"H.R. 19: Fair Trade in Financial Services Act of 1995." 104th Congress, 2026, Open America, https://openamerica.io/bill/104-HR-19/.
Bluebook (legal)
H.R. 19, 104th Cong. (2026), https://openamerica.io/bill/104-HR-19/.
Markdown link
[H.R. 19: Fair Trade in Financial Services Act of 1995](https://openamerica.io/bill/104-HR-19/)
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