HR 4813 · 116th Congress · Finance and Financial Sector

Keep Big Tech Out Of Finance Act

Introduced 2019-10-23· Sponsored by Rep. Garcia, Jesus G. "Chuy" [D-IL-4]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.(2019-11-13)

Plain Language Summary

[AI summary unavailable — showing source text] Keep Big Tech Out Of Finance Act This bill generally prohibits certain large technology companies (e.g., social media platforms) from offering financial services. Specifically, these companies may not be a financial institution; be affiliated with a financial institution; or establish, maintain, or operate a digital currency. The bill provides for a one-year wind-down period for a company engaging in these prohibited activities.…

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