Search Results: keywords:"bank holding company act of 1956"

  • S. 3538 — To address applications for deposit insurance submitted by industrial banks to the Federal Deposit Insurance Corporation, and for other purposes.
    Status:Introduced in Senate
    Words:2,051

    S. 3538, also known as the "Close the Shadow Banking Loophole Act," aims to regulate industrial banks' applications for deposit insurance submitted to the Federal Deposit Insurance Corporation (FDIC). The bill introduces stricter conditions for industrial banks' deposit insurance applications...

    Simple Explanation

    The bill wants to make sure that special banks called industrial banks follow strict rules if they want to keep people's money safe with insurance. It also wants to double-check that the big companies in charge of these banks are making smart and safe choices.

  • H. R. 7403 — To specify when the record is complete on certain acquisition applications related to depository institution holding companies, and for other purposes.
    Status:Introduced in House
    Words:1,178

    The bill, known as the "Bank Failure Prevention Act of 2024," aims to establish clear procedures and deadlines for processing acquisition applications related to depository institution holding companies and savings and loan holding companies. It requires the Board to notify applicants within...

    Simple Explanation

    The "Bank Failure Prevention Act of 2024" is a plan to make sure decisions about certain bank company applications are made quickly, usually within 90 days. If it takes too long, the application is automatically approved, and the people checking the applications are not allowed to use outside information to make a decision.