S. 2839 · 116th Congress
Eliminating Corporate Shadow Banking Act of 2019
- Stage
- In committee
- Sponsor
- John Kennedy
- Introduced
- 2019-11-12
- Latest action
- 2019-12-05 · Committee on Banking, Housing, and Urban Affairs. Hearings held.
Summary
Eliminating Corporate Shadow Banking Act of 2019
This bill provides for the regulation of industrial loan companies by the Federal Reserve. Industrial loan companies must comply with specified reporting, examination, and ownership requirements. (Industrial loan companies may generally provide services similar to depository institutions, but their parent holding company may be a nonfinancial, commercial firm.)