HR75 Alabama 2014 Session

Summary

Primary Sponsor

Thomas JacksonRepresentative

Democrat

Session

Regular Session 2014

Title

Congress, urged to reenact provisions separating commercial banking, investment banking, insurance, securities trading, Glass-Steagall Banking Act

Summary

Alabama House resolution urges Congress to reenact Glass-Steagall provisions that would separate commercial and investment banking and related activities.

What This Bill Does

This is a non-binding resolution; it does not change Alabama law. It asks Congress and the President to enact Glass-Steagall provisions that would restore the separation between commercial and investment banking and prohibit commercial banks and bank holding companies from investing in stocks, underwriting securities, or investing in or guaranteeing derivatives. The resolution argues that such changes would protect the public from bailout costs and could shift credit toward infrastructure and other investments, and it directs that a copy be sent to federal leaders.

Who It Affects

• Federal policymakers (the United States Congress and the President), who would be urged to enact Glass-Steagall provisions.
• Alabama residents and taxpayers, who would experience indirect effects if the provisions are enacted, such as potential changes in financial stability and access to credit.

Key Provisions

• Urges the United States Congress and the President to enact Glass-Steagall–inspired legislation that reinstates the separation of commercial and investment banking and prohibits commercial banks and bank holding companies from investing in stocks, underwriting securities, or investing in or acting as guarantors for derivatives.
• Requires a copy of the resolution to be provided to the President, the presiding officers of both Houses of Congress, and every member of Alabama's congressional delegation.

AI-generated summary using openai/gpt-5-nano on Feb 24, 2026. May contain errors — refer to the official bill text for accuracy.

Subjects

Resolutions, Legislative