HR 2255 · 96th Congress · Finance and Financial Sector
Cash Discount Act
Bill Progress
✓
Introduced✓
Committee✓
House Vote4
Senate5
EnactedLatest: Reported to Senate from the Committee on Banking, Housing and Urban Affairs with amendment, S. Rept. 96-923.(1980-09-04)
Recorded Votes
PassedHouse · 1980-06-12
Yea 333Nay 25
PassedHouse · 1980-06-12
Yea 333Nay 25
Plain Language Summary
[AI summary unavailable — showing source text]
Amends the Bank Holding Company Act of 1956 to prohibit bank holding companies and their subsidiaries from selling insurance as principals, agents, or brokers, except: (1) where the insurance secures an extension of credit in the event of death or disability of the debtor; (2) any insurance activity in a community of less than 5,000 or which has inadequate insurance agency facilities; (3) any insurance activity approved prior to June 6, 1978; or (4) any insurance activity of a bank holding company with less than $50,000,000 in total assets.…
Summarized by Claude AI · Non-partisan · For informational purposes only
Cosponsors (20)
15 Democrats5 Republicans