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Return to Prudent Banking: Protecting Savings and Financial Stability

This act aims to separate banks that accept deposits from citizens from companies involved in stock market investments. This is intended to protect your savings from financial market risks and prevent situations where banks become too large and risky. In practice, this means banks will have to focus on core banking services rather than speculative investments.
Key points
Banks accepting deposits will not be allowed to be affiliated with investment firms, which aims to increase the security of your money.
Individuals managing investment firms will not be able to simultaneously serve on bank boards to avoid conflicts of interest.
Existing affiliations between banks and investment firms will have to be terminated within two years, with possible extensions in exceptional cases.
The act reinstates principles from 1933, which were intended to prevent excessive risk in the banking sector.
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Expired
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Additional Information
Print number: 118_HR_2714
Sponsor: Rep. Kaptur, Marcy [D-OH-9]
Process start date: 2023-04-19
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Return to Prudent Banking Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_2714.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-04-19.

What are the main provisions?

Key points include:

  • Banks accepting deposits will not be allowed to be affiliated with investment firms, which aims to increase the security of your money.
  • Individuals managing investment firms will not be able to simultaneously serve on bank boards to avoid conflicts of interest.
  • Existing affiliations between banks and investment firms will have to be terminated within two years, with possible extensions in exceptional cases.
  • The act reinstates principles from 1933, which were intended to prevent excessive risk in the banking sector.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Kaptur, Marcy [D-OH-9].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Economy