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Keep Big Tech Out Of Finance Act

USA116th CongressHR-4813| House 
| Updated: 11/13/2019
Jesús G. "Chuy" García

Jesús G. "Chuy" García

Democratic Representative

Illinois

Commodity Markets, Digital Assets, and Rural Development Subcommittee, Agriculture Committee, Financial Services Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Keep Big Tech Out Of Finance Act This bill generally prohibits certain large technology companies (e.g., social media platforms) from offering financial services. Specifically, these companies may not be a financial institution; be affiliated with a financial institution; or establish, maintain, or operate a digital currency. The bill provides for a one-year wind-down period for a company engaging in these prohibited activities.
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Timeline
Oct 23, 2019
Introduced in House
Oct 23, 2019
Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Nov 13, 2019
Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.
  • October 23, 2019
    Introduced in House


  • October 23, 2019
    Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.


  • November 13, 2019
    Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.

Finance and Financial Sector

Banking and financial institutions regulationBroadcasting, cable, digital technologiesCurrency

Keep Big Tech Out Of Finance Act

USA116th CongressHR-4813| House 
| Updated: 11/13/2019
Keep Big Tech Out Of Finance Act This bill generally prohibits certain large technology companies (e.g., social media platforms) from offering financial services. Specifically, these companies may not be a financial institution; be affiliated with a financial institution; or establish, maintain, or operate a digital currency. The bill provides for a one-year wind-down period for a company engaging in these prohibited activities.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Oct 23, 2019
Introduced in House
Oct 23, 2019
Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Nov 13, 2019
Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.
  • October 23, 2019
    Introduced in House


  • October 23, 2019
    Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.


  • November 13, 2019
    Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.
Jesús G. "Chuy" García

Jesús G. "Chuy" García

Democratic Representative

Illinois

Commodity Markets, Digital Assets, and Rural Development Subcommittee, Agriculture Committee, Financial Services Committee

Finance and Financial Sector

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Banking and financial institutions regulationBroadcasting, cable, digital technologiesCurrency