Megabank Accountability and Consequences Act of 2017
Latest action · Oct 4, 2017 Referred to the House Committee on Financial Services.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedOct 4, 2017
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Megabank Accountability and Consequences Act of 2017
This bill directs federal prudential banking agencies to review certain institutions for patterns or practices of (1) unsound banking practices, or (2) violations of federal consumer protection laws. Institutions found to demonstrate any such patterns or practices shall be subject to specified consequences, including the termination of their banking charters.
Cosponsors 9
Members who signed on, in the order they did. Signatures ran from Oct 4, 2017 to Nov 1, 2017; 8 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-TX | Al Green | Original | Oct 4, 2017 |
| D-MD | Jamie Raskin | Original | Oct 4, 2017 |
| D-IL | Janice D. Schakowsky | Original | Oct 4, 2017 |
| D-MD | John P. Sarbanes | Original | Oct 4, 2017 |
| D-MN | Keith Ellison | Original | Oct 4, 2017 |
| D-OH | Marcy Kaptur | Original | Oct 4, 2017 |
| D-MA | Michael E. Capuano | Original | Oct 4, 2017 |
| D-WA | Pramila Jayapal | Original | Oct 4, 2017 |
| D-MA | James P. McGovern | Nov 1, 2017 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Financial Services Committee | Referred Oct 4, 2017 |
Actions 2
Everything that happened, newest first.
- Oct 4, 2017Introduced in House
- Oct 4, 2017Referred to the House Committee on Financial Services.
In the Congressional Record 2
Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.
| Where | In the Record | Members | Date |
|---|---|---|---|
| House | Debate and remarks H1633 | Maxine Waters D-CA | Mar 15, 2018 |
| House | Lists H7842H.R. 3937–3962 | — | Oct 4, 2017 |
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Constitutional authority
The sponsor’s statement, as printed in the Congressional Record, vol. 163, no. 159, October 4, 2017, page H7842.
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To require the Federal prudential banking agencies to determine whether certain institutions they regulate engage in a pattern or practice of violations of Federal banking and consumer protection laws and regulations, to provide for the revocation of banking charters and Federal deposit insurance for such institutions, and for other purposes.
- Short Titles as Introduced
- Megabank Accountability and Consequences Act of 2017
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
- Banking and financial institutions regulation
- Bankruptcy
- Business ethics
- Civil actions and liability
- Congressional oversight
- Consumer affairs
- Corporate finance and management
- Federal Reserve System
- Finance and Financial Sector
- Financial crises and stabilization
- Foreign and international banking
- Fraud offenses and financial crimes
- Government studies and investigations
- Licensing and registrations
- Minority and disadvantaged businesses
- Minority employment
- State and local government operations
- Women in business
- Women's employment
Text 1
Each version as it was printed, newest first.
- Oct 4, 2017Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
