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S.685: Too Big to Fail, Too Big to Exist Act

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 Bernard Sanders, I-Vt.
Total Cosponsors 0
Introduced April 9, 2013
Latest Major Action April 9, 2013
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Bill Progress

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

Bill Summary

Too Big to Fail, Too Big to Exist Act - Instructs the Secretary of the Treasury to: (1) submit to Congress, within 90 days after enactment of this Act, a list of all commercial banks, investment banks, hedge funds, and insurance companies that the Secretary believes are too big to fail ("Too Big To Fail List"), including, but not limited to, any U.S. bank holding companies identified by the Financial Stability Board as systemically important banks; and (2) break up entities on the list so that their failure would no longer cause a catastrophic effect on the U.S. or global economy without a taxpayer bailout.

(Source: Congressional Research Service)

Bill Actions

Date Description
April 9, 2013 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.