- Not enactedThe President has not signed this bill
- The house has not voted
- The senate has not voted
Committee on Banking, Housing, and Urban AffairsIntroducedApril 6th, 2017
- senate Committees
For a half-century after the Great Depression commercial and investment banks were separated, and the U.S. financial sector avoided a significant crisis. Bringing back that separation would be a positive for banks and protect taxpayers from bailing out banks that took too many risks.
Breaking up large, multi-faceted financial institutions is going to have a negative impact on the economy, as they'll now have fewer resources to facilitate the type of lending that they now make. Not only that, but this bill by itself doesn’t end the threat to taxpayers posed by “too big to fail” banks.