PlainBillCongress, translated.Legislation. Context. Public interest.Placed on the Union Calendar, Calendar No. 320.
Congressional Research Service
Version 07 · Reported to House · Nov 4, 2025
Merchant Banking Modernization Act
This bill requires financial holding companies to be allowed to hold merchant banking investments for a minimum of 15 years.
Currently, financial holding companies are generally prohibited from holding interests in nonfinancial companies, however, there are statutory exemptions for merchant banking activities—financial services for private commercial entities. As a result of these financial services, the financial holding company may gain equity in these private commercial entities through portfolio holdings. Under current regulations, these holdings are subject to certain limitations, including a holding limit of 10 years, with the option of extending the period subject to review by the Federal Reserve Board.
People & committees
Rep. Williams, Roger [R-TX-25] · R–TX
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Placed on the Union Calendar, Calendar No. 320.
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-368.
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-368.
Ordered to be Reported (Amended) by the Yeas and Nays: 35 - 17.
Committee Consideration and Mark-up Session Held
Referred to the House Committee on Financial Services.
Introduced in House
Introduced in House
Primary sources
Text links open the official source. We currently store references to these documents.
Source last updated: Sep 19, 2026. Consult Congress.gov for the current record.
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