HI HR173

Requests that U.S. Congress pass legislation to reinstate the separation of commercial and investment banking functions that were in effect under the Glass-Steagall Act of 1933.

Prohibitions would prevent commercial banks and bank holding companies from investing in stocks, underwriting securities, or investing in or acting as guarantors to derivative transactions.

Cites the 1999 repeal of Glass-Steagall sections as potentially contributing to the 2007-2009 Great Recession, which caused widespread home foreclosures, job losses, and financial strain on states and municipalities.

References Senator Elizabeth Warren's 2017 legislation (S. 881, the 21st Century Glass-Steagall Act of 2017) as a model for reducing financial system risks and limiting conflicts of interest.

Directs transmission of certified copies to the U.S. Senate Majority Leader, House Speaker, and Hawaii's congressional delegation.