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HR 3937 115th Congress House

Megabank Accountability and Consequences Act of 2017

Official title: To require the Federal prudential banking agencies to determine whether certain institutions they regulate engage in a pattern or practice of violations of Fed… Show full official titleShow less

Official title: To require the Federal prudential banking agencies to determine whether certain institutions they regulate engage in a pattern or practice of violations of Federal banking and consumer protection laws and regulations, to provide for the revocation of banking charters and Federal deposit insurance for such institutions, and for other purposes.

Introduced: October 4, 2017 Introduced by: Waters, Maxine Democratic · California See on congress.gov
Finance and Financial Sector Banking and financial institutions regulationBankruptcyBusiness ethicsCivil actions and liability
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Congressional oversightConsumer affairsCorporate finance and managementFederal Reserve SystemFinancial crises and stabilizationForeign and international bankingFraud offenses and financial crimesGovernment studies and investigationsLicensing and registrationsMinority and disadvantaged businessesMinority employmentState and local government operationsWomen in businessWomen's employment
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This bill died when the 115th Congress ended
It never became law before the 115th Congress (2017–2018) 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 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 4, 2017
Referred to the House Committee on Financial Services.
Oct 4, 2017
Introduced in House
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 Latest action October 4, 2017

Referred to the House Committee on Financial Services.

 Plain-English summary Congressional Research Service

Megabank Accountability and Consequences Act of 2017

This bill directs federal prudential banking agencies to review certain institutions for patterns or practices of (1) unsound banking practices, or (2) violations of federal consumer protection laws. Institutions found to demonstrate any such patterns or practices shall be subject to specified consequences, including the termination of their banking charters.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 6
All 6 Democratic 6
D
McGovern, James P.
Massachusetts · Nov 1, 2017
 D
Green, Al
Texas · Oct 4, 2017
 D
Jayapal, Pramila
Washington · Oct 4, 2017
 D
Kaptur, Marcy
Ohio · Oct 4, 2017
 D
Raskin, Jamie
Maryland · Oct 4, 2017
 D
Schakowsky, Janice D.
Illinois · Oct 4, 2017
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 3937: Megabank Accountability and Consequences Act of 2017. 115th Congress. Open America. https://openamerica.io/bill/115-HR-3937/
MLA
"H.R. 3937: Megabank Accountability and Consequences Act of 2017." 115th Congress, 2026, Open America, https://openamerica.io/bill/115-HR-3937/.
Bluebook (legal)
H.R. 3937, 115th Cong. (2026), https://openamerica.io/bill/115-HR-3937/.
Markdown link
[H.R. 3937: Megabank Accountability and Consequences Act of 2017](https://openamerica.io/bill/115-HR-3937/)
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