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Increased Oversight for Large Banks Without Holding Companies

This bill aims to extend financial oversight rules to large banks that are not part of larger banking groups. This means these banks will be subject to the same strict controls and standards as those belonging to holding companies. The goal is to enhance the safety of the financial system, which can indirectly impact citizens' savings and loans stability.
Key points
Large banks without a bank holding company will face the same strict oversight rules as banks with holding companies.
The change aims to close a legal loophole, ensuring all large financial institutions are equally monitored.
Greater bank stability can mean increased security for citizens' savings and loans.
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Expired
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Additional Information
Print number: 118_HR_4210
Sponsor: Rep. Waters, Maxine [D-CA-43]
Process start date: 2023-06-20
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Closing the Enhanced Prudential Standards Loophole Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_4210.

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 2023-06-20.

What are the main provisions?

Key points include:

  • Large banks without a bank holding company will face the same strict oversight rules as banks with holding companies.
  • The change aims to close a legal loophole, ensuring all large financial institutions are equally monitored.
  • Greater bank stability can mean increased security for citizens' savings and loans.
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. Waters, Maxine [D-CA-43].

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