HR466 Alabama 2013 Session

Summary

Primary Sponsor

Thomas JacksonRepresentative

Democrat

Session

Regular Session 2013

Title

Glass-Steagall Act, Congress urged to restore

Summary

The Alabama House urges Congress to restore the Glass-Steagall separation of commercial and investment banking.

What This Bill Does

If enacted, Congress would re-establish the separation between commercial banking and investment banking. It would prohibit commercial banks and bank holding companies from investing in stocks, underwriting securities, or investing in or guaranteeing derivative transactions. The goal is to reduce risk in the financial system and help prevent future bailouts.

Who It Affects

• Commercial banks and bank holding companies would be barred from certain activities (investing in stocks, underwriting securities, or investing in or guaranteeing derivatives).
• The general public and state finances could benefit from reduced risk of bank failures and bailouts.

Key Provisions

• Reinstates the separation of commercial and investment banking as it existed under Glass-Steagall.
• Prohibits commercial banks and bank holding companies from investing in stocks.
• Prohibits commercial banks and bank holding companies from underwriting securities.
• Prohibits commercial banks and bank holding companies from investing in or acting as guarantors for derivative transactions.
• Aims to prevent future bailouts of financial institutions.
• Requests distribution of the resolution to the President, leaders of both Houses of Congress, and Alabama's members of Congress.

AI-generated summary using openai/gpt-5-nano on Feb 25, 2026. May contain errors — refer to the official bill text for accuracy.

Subjects

Resolutions, Legislative