HR 4085 · 96th Congress · Foreign Trade and International Finance

A bill to provide for national treatment of all banks and to prohibit Edge Corporations from branching interstate.

Introduced 1979-05-14· 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 House Committee on Banking, Finance and Urban Affairs.(1979-05-14)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the International Banking Act of 1978 to limit the rights and powers of foreign banks to the authority to accept demand deposits and make commercial loans. Amends the Federal Reserve Act to prohibit corporations organized for the purpose of engaging in international financial operations (Edge Act corporations) from establishing any branch or agency in the United States.…

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