Marcy has proposed the Return to Prudent Banking Act, which would reinstate the provisions of the Glass-Steagall Act to address these issues and more.
Return to prudent banking by reinstating Glass-Steagall provisions.
Occurrences
Evidence
unverified · Source version 9460 · locator unknown
Marcy says her office has "proposed the Return to Prudent Banking Act, which would reinstate the provisions of the Glass-Steagall Act" to address Wall Street and banking risks.
unverified · Source version 9616 · locator unknown
Congress.gov lists Kaptur as sponsor and shows the bill's latest action as referral to the House Committee on Financial Services on 04/19/2023, with status "Introduced."
unverified · Source version 9617 · locator unknown
Congress.gov shows Kaptur introduced H.R.381, titled the Return to Prudent Banking Act, and the only recorded action was referral to the House Committee on Financial Services.
unverified · Source version 58077 · locator unknown
"Last Action Date Listed April 19, 2023"; "Ms. Kaptur ... introduced the following bill; which was referred to the Committee on Financial Services"; "Bill Version Introduced in House (IH)"; "To repeal certain provisions of the Gramm-Leach-Bliley Act and revive the separation between commercial banking and the securities business"
unverified · Source version 58079 · locator unknown
"377. Repealed."; "§377. Repealed. Pub. L. 106–102, title I, §101(a), Nov. 12, 1999, 113 Stat. 1341"; "prohibited member banks from affiliating with organizations dealing in securities and provided for penalties."
Assessments
Kaptur repeatedly sponsored the Return to Prudent Banking Act to reinstate Glass-Steagall-style separation of commercial and investment banking, including H.R.381 in 2015 and H.R.2714 in 2023. The cited bills were introduced and referred to committee but did not pass, and the promised federal banking-law change was not enacted. Because she made a concrete legislative attempt toward the promised outcome, the result is non-delivery with an effort badge rather than no effort.
Kaptur made concrete legislative attempts to reinstate Glass-Steagall-style banking separation, including sponsoring the Return to Prudent Banking Act in multiple Congresses. However, the cited bills were only introduced and referred to committee, with no evidence that Glass-Steagall provisions were enacted or otherwise implemented. Because the promised policy outcome was not delivered despite serious legislative effort, the proper outcome is never with an effort badge.