HR 7046 · 116th Congress · Finance and Financial Sector

To amend the Bank Holding Company Act of 1956 to place certain limitations on commodity ownership and to repeal the merchant banking authority, and for other purposes.

Introduced 2020-05-28· Sponsored by Rep. Casten, Sean [D-IL-6]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Financial Services.(2020-05-28)

Plain Language Summary

[AI summary unavailable — showing source text] This bill limits the types of investment activities banks are allowed to engage in, including certain merchant banking activities and commodities ownership. Additionally, the bill finalizes the Federal Reserve Board's proposed rule published September 30, 2016, regarding physical commodity trading activities conducted by financial holding companies.…

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