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HR 3882 109th Congress House

Financial Safety and Equity Act of 2005

Official title: To preserve competitive equity in financial services.

Introduced: July 12, 2006 See on congress.gov
Finance and Financial Sector Bank holding companiesCommerceCorporate divestitureNonbank banks
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This bill died when the 109th Congress ended
It never became law before the 109th Congress (2005–2006) 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 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 17, 2005
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Sep 22, 2005
Referred to the House Committee on Financial Services.
Sep 22, 2005
Introduced in House
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 Latest action October 17, 2005

Referred to the Subcommittee on Financial Institutions and Consumer Credit.

 Plain-English summary Congressional Research Service

Financial Safety and Equity Act of 2005 - Amends the Bank Holding Company Act of 1956 regarding interests in nonbanking organizations to provide that any company that controls an industrial loan company, industrial bank, or similar institution shall become a financial holding company.

Requires such entity to comply with all federal conditions, requirements, restrictions and limitations applicable to a financial holding company.

Grants a five-year divestiture period for nonconforming activities to an entity that: (1) owned or controlled an industrial loan company, industrial bank, or similar institution on January 1, 2005; and (2) was not a bank holding company or a foreign bank on that date.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 1
All 1 Independent 1
I
Sanders, Bernard
Vermont · Jul 12, 2006
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 3882: Financial Safety and Equity Act of 2005. 109th Congress. Open America. https://openamerica.io/bill/109-HR-3882/
MLA
"H.R. 3882: Financial Safety and Equity Act of 2005." 109th Congress, 2026, Open America, https://openamerica.io/bill/109-HR-3882/.
Bluebook (legal)
H.R. 3882, 109th Cong. (2026), https://openamerica.io/bill/109-HR-3882/.
Markdown link
[H.R. 3882: Financial Safety and Equity Act of 2005](https://openamerica.io/bill/109-HR-3882/)
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