DE HCR8

Urges the President and Congress to reinstate the separation between commercial and investment banking that existed under the Glass-Steagall Act of 1933, which was repealed in 1999

Cites the 1999 repeal as enabling commercial banks to merge with investment firms, insurance companies, and mortgage companies, leading to speculative activities that contributed to the housing market collapse and 2008 recession

Notes that the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 failed to adequately separate commercial and investment banking functions

References specific federal legislation including the "Return to Prudent Banking Act of 2015" (H.R.381) and the "21st Century Glass-Steagall Act of 2015" (H.R.3054 and S.1709) as models for restoring the separation

Directs that copies of this resolution be sent to the President, presiding officers of both houses of Congress, and all Delaware members of Congress