S 1539 · 96th Congress · Foreign Trade and International Finance

Foreign Bank Takeover Act

Introduced 1979-07-18· Sponsored by Sen. Proxmire, William [D-WI]· Senate

Bill Progress

✓
Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Referred to Senate Committee on Banking, Housing and Urban Affairs.(1979-07-18)

Plain Language Summary

[AI summary unavailable — showing source text] Foreign Bank Takeover Act - Prohibits foreigners from acquiring any U.S. financial institutions with assets of over $100,000,000 prior to April 1, 1981. Directs the President, in consultation with other Federal agencies, to report to Congress with recommendations concerning: (1) the effect of foreign takeovers on domestic financial institutions; (2) the potential impact of various possible foreign policy changes on such institutions controlled by foreigners; and (3) the adequacy of existing regulations and laws to handle problems.…

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