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Bill To Restore Glass-Steagall Filed in The House

Bill To Restore Glass-Steagall Filed in The House

Jan. 15, 2015 (EIRNS)—Rep. Marcy Kaptur (D-Ohio), a lead sponsor of the bill to restore Glass-Steagall in the last Congress, yesterday filed a bill into the new Congress, with 16 co-sponsors, to restore the Glass Steagall Act. Titled "To repeal certain provisions of the Gramm-Leach-Bliley Act and revive the separation between commercial banking and the securities business, in the manner provided in the Banking Act of 1933, the so-called ’Glass-Steagall Act’, and for other purposes," it has been assigned number H.R. 381.

The co-sponsors—all of whom were among the 83 co-sponsors of Kaptur’s bill in the previous Congress to restore Glass Steagall — are Earl Blumenauer (D-Ore), Michael Capuano (D-Mass.), Elijah Cummings (D-Md.), John Garamendi (D-Cal.), Gene Green (D-Tex.), Eddie Bernice Johnson (D-Tex.), Walter Jones (R-N.C.), Alan Lowenthal (D-Cal,), Stephen Lynch (D-Mass.), James McGovern (D-Mass.), Eleanor Holmes Norton (D-D.C.), Charles Rangel (D-N.Y.), Louise Slaughter (D-N.Y.), Paul Tonko (D-N.Y.), Niki Tsongas (D-Mass.), and Peter Welch (D-Vt.)