AZ HCM2004

Urges the United States Congress to enact H.R. 381 (Return to Prudent Banking Act of 2015) and S. 1709 (21st Century Glass-Steagall Act of 2015) to restore separation between commercial and investment banking.

Cites the 1999 repeal of Glass-Steagall provisions as contributing to the financial crisis and subsequent recession that cost millions of jobs, millions of foreclosures, and required billions in taxpayer-funded bank bailouts.

Requests Congress enact legislation prohibiting commercial banks and bank holding companies from investing in stocks, underwriting securities, or investing in derivative transactions to protect American taxpayers from future financial crises.

Notes that legislation to restore Glass-Steagall protections has bipartisan support from economists, business leaders, and national publications, and has been introduced in more than half of U.S. states with at least four states passing resolutions.

Directs the Arizona Secretary of State to transmit copies of the memorial to the President, Congress, Arizona's congressional delegation, and the sponsors of the federal Glass-Steagall bills.