H.R.2451 - Glass-Steagall Restoration Act of 2011

To restore certain provisions of the Banking Act of 1933, commonly referred to as the "Glass-Steagall Act", and for other purposes. view all titles (2)

All Bill Titles

  • Official: To restore certain provisions of the Banking Act of 1933, commonly referred to as the "Glass-Steagall Act", and for other purposes. as introduced.
  • Short: Glass-Steagall Restoration Act of 2011 as introduced.

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Introduced
 
House
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Senate
Passes
 
President
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07/07/11
 
 
 
 
 
 
 

Official Summary

Glass-Steagall Restoration Act of 2011 - 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, note

Official Summary

Glass-Steagall Restoration Act of 2011 - 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. Authorizes the Board of Governors of the Federal Reserve System to grant an exception in limited classes of cases when in the Board's judgment it would not unduly influence the investment policies of such member bank or the advice it gives its customers regarding investments.

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