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H.R.3913: To amend the Bank Holding Company Act of 1956 to require agencies to make considerations relating to the promotion of efficiency, competition, and capital formation before issuing or modifying certain regulations.

About this Bill

This bill was introduced in the 113th Congress
This bill is primarily about finance and financial sector
You can read the bill
Sponsor Sean Duffy, R-Wis.
Total Cosponsors 1 (All Republicans)
Introduced Jan. 16, 2014
Latest Major Action July 30, 2014
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Bill Progress

  • Bill introduced in the House   
  • Bill passed in the House   
  • Bill passed in the Senate   
  • Bill signed into law

Bill Summary

Amends the Bank Holding Company Act of 1956 with respect to certain prohibitions against proprietary trading by banking entities and certain relationships of such entities with hedge funds and private equity funds (Volcker rule).

Directs the Commodity Futures Trading Commission (CFTC), the Securities and Exchange Commission (SEC), and the appropriate federal banking agencies, when issuing or modifying any regulation related to such prohibitions, to consider: (1) whether it is necessary or appropriate in the public interest; (2) whether it will promote efficiency, competition, and capital formation; and (3) the impact it would have on competition.

Prohibits such agencies from adopting a regulation that would impose a burden on competition neither necessary nor appropriate in furtherance of the Act.

Directs such agencies to include in the statement of basis and purpose incorporated in the regulation the reasons for determining that any burden on competition imp...

(Source: Congressional Research Service)

Bill Actions

Date Description
July 30, 2014 Ordered to be Reported by the Yeas and Nays: 32 - 22.
July 30, 2014 Committee Consideration and Mark-up Session Held.
July 15, 2014 Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.
Jan. 16, 2014 Referred to the House Committee on Financial Services.