AZ HCM2002

Urges the United States Congress to adopt legislation similar to H.R. 129 (Return to Prudent Banking Act of 2013) and S. 1282 (21st Century Glass-Steagall Act of 2013) to reinstate Glass-Steagall protections.

Requests Congress enact legislation that separates commercial and investment banking by prohibiting commercial banks and bank holding companies from investing in stocks, underwriting securities, or investing in derivative transactions.

Cites the 1999 repeal of Glass-Steagall during the Clinton Administration as a contributing factor to the 2008 financial crisis and resulting recession that cost millions of jobs and required billions in taxpayer bailouts.

Notes that as of September 9, 2013, eighteen states had filed similar resolutions, with Maine and South Dakota having passed resolutions through both houses of their legislatures.

Directs the Arizona Secretary of State to transmit the memorial to the President, Congress, Arizona's congressional delegation, and the sponsors of the Glass-Steagall bills (Representatives Kaptur and Jones; Senators Warren, Cantwell, McCain, and King).