United States 116th Congress Status: In Committee 1 D cosponsors

HR 5180 — Protecting Consumers from Market Manipulation Act

Last action — Referred to the House Committee on Financial Services.

  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 116th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there are no live odds of enactment. It would have to be reintroduced in the current session to move again.

Summary

Protecting Consumers from Market Manipulation Act This bill prohibits large nonfinancial companies from engaging in financial activities that would result in producing the lower of (1) 5% of the company's revenue, or (2) $1,000,000,000 in revenue. The bill limits the types of investment activities banks are allowed to engage in, including certain merchant banking activities. The Financial Stability Oversight Council and the Federal Reserve must report on issues related to digital currency.

Bill Text

How this bill changes current law

6 changes Share ↗

Compared against current U.S. Code AI-generated reading aid — verify against the official bill.

The bill amends the Bank Holding Company Act to prohibit bank holding companies from owning non-financial assets and modifies regulatory requirements related to financial activities.

  • 12 U.S.C. 1843

    subsection (o)

    The bill eliminates subsection (o), which may pertain to regulations of bank holding companies.

  • 12 U.S.C. 1843

    subparagraph (H) or (I) → subparagraph (H)

    The bill modifies references to remove subparagraph (I) from certain provisions.

  • 12 U.S.C. 1843

    by regulation or order → , by regulation

    The bill clarifies the language regarding how certain determinations are made by regulators.

  • 12 U.S.C. 1843

    if such determination is made jointly, by rule, with the Federal Deposit Insurance Corporation. → if such determination is made jointly, by rule, with the Federal Deposit Insurance Corporation.

    The bill strengthens the requirement that activity determinations be made jointly with the FDIC.

  • 12 U.S.C. 1843

    subsection (k), (n), or (o) → subsection (k) or (n)

    The bill limits certain references to subsection (k) and (n), excluding subsection (o).

  • 12 U.S.C. 1843

    the federal deposit insurance corporation → and the federal deposit insurance corporation

    The bill adds FDIC to a provision regarding joint determinations.

Action History

  1. Introduced in House

  2. Introduced in House

  3. Sponsor introductory remarks on measure. (CR E1468)

  4. Referred to the House Committee on Financial Services.

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 546 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (546)

546 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

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Subjects

finance
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Frequently asked questions

What does HR 5180 do?
Protecting Consumers from Market Manipulation Act This bill prohibits large nonfinancial companies from engaging in financial activities that would result in producing the lower of (1) 5% of the company's revenue, or (2) $1,000,000,000 in revenue. The bill limits the types of investment activities banks are allowed to engage in, including certain merchant banking activities. The Financial Stability Oversight Council and the Federal Reserve must report on issues related to digital currency.
Who sponsors HR 5180?
HR 5180 is sponsored by García, Jesús G. "Chuy" (Democratic).
What is the current status of HR 5180?
This bill died with 116th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HR 5180?
Track HR 5180 free on One Click Politics — get push/email alerts when it moves.

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