H.R. 5180 · 116th Congress
Protecting Consumers from Market Manipulation Act
- Stage
- In committee
- Sponsor
- Chuy García
- Introduced
- 2019-11-19
- Latest action
- 2019-11-19 · Introduced in House
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.