AZ SCM1016

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 separation between commercial and investment banking.

Asserts that the 1999 repeal of the Glass-Steagall Act contributed to the financial crisis and recession, causing job losses, home foreclosures, and requiring taxpayer-funded bailouts of financial institutions.

Calls for legislation prohibiting commercial banks and bank holding companies from investing in stocks, underwriting securities, or investing in derivative transactions to prevent future financial crises.

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

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 legislation.