United States 114th Congress Status: Died 1 D cosponsors

HR 2600 — Too Big To Fail, Too Big To Exist Act

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

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. Died in session

This bill died with 114th 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This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Too Big To Fail, Too Big To Exist Act This bill directs the Financial Stability Oversight Council to compile and submit to the Secretary of the Treasury a list of entities that the Council deems Too Big To Fail (List), including U.S. bank holding companies the Financial Stability Board has identified as systemically important banks. The Secretary of the Treasury shall: (1) submit the List to Congress and the President, and (2) break up entities on the List so that their failure would no longer cause a catastrophic effect upon the U.S. or global economy without a taxpayer bailout. Any entity on the List may not use or have access to advances from any Federal Reserve credit facility, the Federal Reserve discount window, or any program or facility made available under the Federal Reserve Act, including asset purchases, temporary or bridge loans, government investments in debt or equity, or capital injections from any federal institution. No insured depository institution on the List, nor any entity that owns one, may use insured deposit amounts to fund: any activity relating to hedging that is not directly related to commercial banking activity at the insured bank, any use of derivatives for speculative purposes, any activity related to the dealing of derivatives, or any other form of speculative activity specified by regulators. Nor may any entity on the List conduct such activities in a manner that either: (1) puts insured deposits at risk, or (2) creates a risk of loss to the Deposit Insurance Fund.

Bill Text

We don't have the full text on file for this bill yet.

Read HR 2600 on the official United States source →

Action History

  1. Referred to the House Committee on Financial Services.

  2. Introduced in House

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.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

taxation finance
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does HR 2600 do?
Too Big To Fail, Too Big To Exist Act This bill directs the Financial Stability Oversight Council to compile and submit to the Secretary of the Treasury a list of entities that the Council deems Too Big To Fail (List), including U.S. bank holding companies the Financial Stability Board has identified as systemically important banks. The Secretary of the Treasury shall: (1) submit the List to Congress and the President, and (2) break up entities on the List so that their failure would no longer cause a catastrophic effect upon the U.S. or global economy without a taxpayer bailout. Any entity on the List may not use or have access to advances from any Federal Reserve credit facility, the Federal Reserve discount window, or any program or facility made available under the Federal Reserve Act, including asset purchases, temporary or bridge loans, government investments in debt or equity, or capital injections from any federal institution. No insured depository institution on the List, nor any entity that owns one, may use insured deposit amounts to fund: any activity relating to hedging that is not directly related to commercial banking activity at the insured bank, any use of derivatives for speculative purposes, any activity related to the dealing of derivatives, or any other form of speculative activity specified by regulators. Nor may any entity on the List conduct such activities in a manner that either: (1) puts insured deposits at risk, or (2) creates a risk of loss to the Deposit Insurance Fund.
Who sponsors HR 2600?
HR 2600 is sponsored by Brad Sherman (D).
What is the current status of HR 2600?
This bill died with 114th 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 2600?
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