PlainBillCongress, translated.Legislation. Context. Public interest.Ordered to be Reported by the Yeas and Nays: 32 - 22.
Congressional Research Service
Version 00 · Introduced in House · Jan 16, 2014
Amends the Bank Holding Company Act of 1956 with respect to certain prohibitions against proprietary trading by banking entities and certain relationships of such entities with hedge funds and private equity funds (Volcker rule).
Directs the Commodity Futures Trading Commission (CFTC), the Securities and Exchange Commission (SEC), and the appropriate federal banking agencies, when issuing or modifying any regulation related to such prohibitions, to consider: (1) whether it is necessary or appropriate in the public interest; (2) whether it will promote efficiency, competition, and capital formation; and (3) the impact it would have on competition.
Prohibits such agencies from adopting a regulation that would impose a burden on competition neither necessary nor appropriate in furtherance of the Act.
Directs such agencies to include in the statement of basis and purpose incorporated in the regulation the reasons for determining that any burden on competition imposed by the regulation is necessary or appropriate in furtherance of this Act.
People & committees
Rep. Duffy, Sean P. [R-WI-7] · R–WI
Legislative record
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Ordered to be Reported by the Yeas and Nays: 32 - 22.
Committee Consideration and Mark-up Session Held.
Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.
Referred to the House Committee on Financial Services.
Introduced in House
Introduced in House
Primary sources
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No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Apr 7, 2025. Consult Congress.gov for the current record.
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Analyze H.R.3913 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.
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