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DE SCR46
Concurrent Resolution
Status
3/15/2018
Primary Sponsor
Bruce Ennis
Click for details
AI Summary
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Urges Congress to reinstate the separation of commercial and investment banking functions that existed under the Glass-Steagall Act (Banking Act of 1933)
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Calls for federal legislation to prohibit commercial banks and bank holding companies from investing in stocks, underwriting securities, or investing in derivative transactions
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References the 1999 repeal of Glass-Steagall and argues the subsequent 2008 financial crisis demonstrates the need to restore banking sector protections for taxpayers
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Notes widespread bipartisan and organizational support for Glass-Steagall reinstatement, including from labor unions, economists, business leaders, and major newspapers
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Directs the Delaware Senate to send copies of the resolution to the President, Congressional leadership, and Delaware's Congressional Delegation
Legislative Description
Requesting The Congress Of The United States To Reinstate The Separation Of Commercial And Investment Banking Functions Previously In Effect Under The Glass-steagall Act And Support Efforts To Return To National Banking Policies To Repair Our Nation's Infrastructure.
Last Action
Introduced in Senate
3/15/2018