HR 5180
116th Congress
House
Finance and Financial Sector
Administrative law and regulatory procedures
Banking and financial institutions regulation
Congressional oversight
Corporate finance and management
Currency
Digital media
Federal Reserve System
Government studies and investigations
Internet and video services
Internet, web applications, social media
Monetary policy
Protecting Consumers from Market Manipulation Act
Introduced: November 19, 2019
Introduced by:
García, Jesús G. "Chuy"
Democratic
· Illinois
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Nov 19, 2019
Referred to the House Committee on Financial Services.
Nov 19, 2019
Sponsor introductory remarks on measure. (CR E1468)
Nov 19, 2019
Introduced in House
Plain-English summary
Protecting Consumers from Market Manipulation Act
This bill prohibits large nonfinancial companies from engaging in financial activities that would result in producing the lower of (1) 5% of the company's revenue, or (2) $1,000,000,000 in revenue. The bill limits the types of investment activities banks are allowed to engage in, including certain merchant banking activities.
The Financial Stability Oversight Council and the Federal Reserve must report on issues related to digital currency.
What's happening now
Referred to the House Committee on Financial Services.
Committees of jurisdiction
1
Cosponsors
1