H.R.4461 - Banking Integrity Act of 2010

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

All Bill Titles

  • Short: Banking Integrity Act of 2010 as introduced.
  • Official: To prohibit certain affiliations (between commercial banking and investment banking companies), and for other purposes. as introduced.

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Introduced
 
House
Passes
 
Senate
Passes
 
President
Signs
 

 
01/15/10
 
 
 
 
 
 
 

Official Summary

Banking Integrity Act of 2010 - 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 oth

Official Summary

Banking Integrity Act of 2010 - 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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