HR 19 · 104th Congress · Finance and Financial Sector

Fair Trade in Financial Services Act of 1995

Introduced 1995-01-04· Sponsored by Rep. Leach, James A. [R-IA-1]· House

Bill Progress

Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the Subcommittee on Telecommunications and Finance, for a period to be subsequently determined by the Chairman.(1995-02-21)

Plain Language Summary

[AI summary unavailable — showing source text] Fair Trade in Financial Services Act of 1995 - Directs the Secretary of the Treasury (the President in the case of insurance organizations) to identify foreign countries that may be denying national treatment to U.S. banking and securities organizations and determine whether such possible denial may be having a significant adverse effect on them. Requires the Secretary and the President, when making such determinations, to: (1) consider specified factors; and (2) initiate negotiations (through the U.S. Trade Representative, in the President's case) with such foreign country to ensure that it accords national treatment to such U.S. organizations upon the determination of such possible denial. Authorizes the Secretary to recommend to the appropriate Federal regulatory agency that it suspend consideration of, or deny a request for, authorization filed by a person of a foreign country determined to have denied such national treatment. Authorizes the President to recommend similar action to the Secretary with respect to the registration of alien insurance organizations. Prohibits such sanctions with respect to any request for authorization filed by specified U.S. depository institutions…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (2)

1 Democrat1 Republican