MS HR165

Urges Congress to enact legislation reinstating the separation of commercial and investment banking functions that existed under the Glass-Steagall Act before its 1999 repeal.

Cites the 1999 repeal of Glass-Steagall as a contributing factor to the 2008 financial crisis, resulting in widespread foreclosures, job losses, and financial strain on states and municipalities.

References House Resolution No. 129 (Return to Prudent Banking Act of 2013) as proposed federal legislation to revive the Glass-Steagall separation.

Prohibits commercial banks and bank holding companies from investing in stocks, underwriting securities, or engaging in derivative transactions to prevent future financial institution bailouts.

Requires distribution of the resolution to the President, congressional leadership, and Mississippi's congressional delegation.