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Eliminating Corporate Shadow Banking Act of 2019

11/1/2022, 5:02 AM

Congressional Summary of S 2839

Eliminating Corporate Shadow Banking Act of 2019

This bill provides for the regulation of industrial loan companies by the Federal Reserve. Industrial loan companies must comply with specified reporting, examination, and ownership requirements. (Industrial loan companies may generally provide services similar to depository institutions, but their parent holding company may be a nonfinancial, commercial firm.)

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Current Status of Bill S 2839

Bill S 2839 is currently in the status of Bill Introduced since November 12, 2019. Bill S 2839 was introduced during Congress 116 and was introduced to the Senate on November 12, 2019.  Bill S 2839's most recent activity was Committee on Banking, Housing, and Urban Affairs. Hearings held. as of December 5, 2019

Bipartisan Support of Bill S 2839

Total Number of Sponsors
1
Democrat Sponsors
0
Republican Sponsors
1
Unaffiliated Sponsors
0
Total Number of Cosponsors
0
Democrat Cosponsors
0
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill S 2839

Primary Policy Focus

Finance and Financial Sector

Potential Impact Areas

- Administrative law and regulatory procedures
- Bank accounts, deposits, capital
- Banking and financial institutions regulation
- Business records
- Corporate finance and management
- Credit and credit markets
- Federal Reserve System
- Licensing and registrations

Alternate Title(s) of Bill S 2839

Eliminating Corporate Shadow Banking Act of 2019
Eliminating Corporate Shadow Banking Act of 2019
A bill to amend the Bank Holding Company Act of 1956 to regulate industrial bank holding companies, and for other purposes.

Comments

Sponsors and Cosponsors of S 2839

John Kennedy
John Kennedy
LouisianaRepublican

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