To require the Federal prudential banking agencies to determine whether certain institutions they regulate engage in a pattern or practice of violations of Federal banking and consumer protection laws and regulations, to provide for the revocation of banking charters and Federal deposit insurance for such institutions, and for other purposes.
USA115th CongressHR-3937| House
| Updated: 10/4/2017
Maxine Waters
Democratic Representative
California
Cosponsors (9)
Financial Services Committee
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Megabank Accountability and Consequences Act of 2017 This bill directs federal prudential banking agencies to review certain institutions for patterns or practices of (1) unsound banking practices, or (2) violations of federal consumer protection laws. Institutions found to demonstrate any such patterns or practices shall be subject to specified consequences, including the termination of their banking charters.
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Timeline
Introduced in House
Referred to the House Committee on Financial Services.
Finance and Financial Sector
Banking and financial institutions regulationBankruptcyBusiness ethicsCivil actions and liabilityCongressional oversightConsumer affairsCorporate finance and managementFederal Reserve SystemFinancial crises and stabilizationForeign and international bankingFraud offenses and financial crimesGovernment studies and investigationsLicensing and registrationsMinority and disadvantaged businessesMinority employmentState and local government operationsWomen in businessWomen's employment
To require the Federal prudential banking agencies to determine whether certain institutions they regulate engage in a pattern or practice of violations of Federal banking and consumer protection laws and regulations, to provide for the revocation of banking charters and Federal deposit insurance for such institutions, and for other purposes.
USA115th CongressHR-3937| House
| Updated: 10/4/2017
Megabank Accountability and Consequences Act of 2017 This bill directs federal prudential banking agencies to review certain institutions for patterns or practices of (1) unsound banking practices, or (2) violations of federal consumer protection laws. Institutions found to demonstrate any such patterns or practices shall be subject to specified consequences, including the termination of their banking charters.
View Full TextSuggested Questions
Get AI-generated questions to help you understand this bill better
Timeline
Introduced in House
Referred to the House Committee on Financial Services.
Maxine Waters
Democratic Representative
California
Cosponsors (9)
Financial Services Committee
Finance and Financial Sector
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Banking and financial institutions regulationBankruptcyBusiness ethicsCivil actions and liabilityCongressional oversightConsumer affairsCorporate finance and managementFederal Reserve SystemFinancial crises and stabilizationForeign and international bankingFraud offenses and financial crimesGovernment studies and investigationsLicensing and registrationsMinority and disadvantaged businessesMinority employmentState and local government operationsWomen in businessWomen's employment