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S 2886 111th Congress Senate Finance and Financial Sector Banking and financial institutions regulation Insurance industry and regulation Securities

Banking Integrity Act of 2009

Introduced: December 16, 2009 Introduced by: Cantwell, Maria Democratic · Washington See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 16, 2009
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Dec 16, 2009
Introduced in Senate
 Plain-English summary Congressional Research Service

Banking Integrity Act of 2009 - Amends the Banking Act of 1933 (Glass-Steagall Act) to prohibit a member bank from being affiliated with specified organizations engaged principally in the issue, flotation, underwriting, public sale, or distribution of stocks, bonds, debenture, notes, or other securities.

Prohibits the staff and personnel of corporations and partnerships (as well as any individual) primarily engaged in the issue, flotation, underwriting, public sale, or distribution, of stocks, bonds, or other similar securities, from serving simultaneously as an officer, director, or employee of any member bank of the Federal Reserve System. Authorizes the Board of Governors of the Federal Reserve System to grant limited exceptions.

Prohibits a depository institution from engaging in the business of insurance or any insurance-related activity.

What's happening now December 16, 2009

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Independent 1