HR75 Summary

• Urges the United States Congress and President to enact Glass-Steagall inspired legislation that reinstates the separation of commercial and investment banking functions.

• Proposes prohibiting commercial banks and bank holding companies from investing in stocks, underwriting securities, or investing in or acting as guarantors to derivatives transactions.

• Cites the 1999 repeal of Glass-Steagall as contributing to financial speculation, the 2008 economic crisis, and subsequent taxpayer-funded bank bailouts totaling billions of dollars.

• References federal reserve issuance of $85 billion per month in 2013 to "too big to fail" banks and notes banks decreased Main Street lending by $700 billion since 2008.

• Directs distribution of the resolution to the President, presiding officers of both Houses of Congress, and each member of the Alabama Congressional delegation.