S.2886 - Banking Integrity Act of 2009

A bill to prohibit certain affiliations (between commercial banking and investment banking companies), and for other purposes. view all titles (2)

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  • Official: A bill to prohibit certain affiliations (between commercial banking and investment banking companies), and for other purposes. as introduced.
  • Short: Banking Integrity Act of 2009 as introduced.

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Introduced
 
Senate
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House
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President
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12/15/09
 
 
 
 
 
 
 

Official Bill Text Comment on about 3 Pages

OpenCongress Summary

A response to the recent financial crisis and the subsequent government bailouts, this bill would essentially reinstate the New Deal-era Glass-Steagall Act that, until its repeal in 1999, separated commercial banking from investment banking.
OpenCongress bill summaries are written by OpenCongress editors and are entirely independent of Congress and the federal government. For the summary provided by Congress itself, via the Congressional Research Service, see the "Official Summary" below.

Official Summary

12/16/2009--Introduced.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,
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Official Summary

12/16/2009--Introduced.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.

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Recent Blog Coverage

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12/30/10
As Long As “WE THE PEOPLE” Remain In The Dark ~ NWO Gang Remains ...

The Senate bill, as is well known, is that introduced by Senators Maria Cantwell (D-WA) and John McCain (R-AZ), called the Banking Integrity Act (S. 2886), with 6 co-sponsors. There is, of course, one simple way to move the ...

Source: Political Vel Craft
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09/16/10
S. 2886 [110th]: Alternative Minimum Tax and Extenders Tax Relief ...

16 Apr 2008

Source: Active Legislation -- Tracked by GovTrack.us
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09/07/10
"Bailout Barney" is Personally Sitting On, And Blocking, Glass ...

The Senate bill, as is well known, is that introduced by Senators Maria Cantwell (D-WA) and John McCain (R-AZ), called the Banking Integrity Act (S. 2886), with 6 co-sponsors. There is, of course, one simple way to move the ...

Source: LaRouchePAC
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