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HR 7046 116th Congress House Finance and Financial Sector Administrative law and regulatory procedures Banking and financial institutions regulation Commodities markets Corporate finance and management Federal Reserve System Monetary policy

To amend the Bank Holding Company Act of 1956 to place certain limitations on commodity ownership and to repeal the merchant banking authority, and for other purposes.

Introduced: May 28, 2020 Introduced by: Casten, Sean Democratic · Illinois 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
May 28, 2020
Referred to the House Committee on Financial Services.
May 28, 2020
Introduced in House
 Plain-English summary Congressional Research Service

This bill limits the types of investment activities banks are allowed to engage in, including certain merchant banking activities and commodities ownership.

Additionally, the bill finalizes the Federal Reserve Board's proposed rule published September 30, 2016, regarding physical commodity trading activities conducted by financial holding companies.

What's happening now May 28, 2020

Referred to the House Committee on Financial Services.

 Committees of jurisdiction 1