A bill to provide for a study of foreign acquisitions of domestic financial institutions, to impose a moratorium on such acquisitions, and for other purposes.
Foreign Bank Takeover Act - Prohibits foreigners from acquiring any U.S. financial institutions with assets of over $100,000,000 prior to April 1, 1981.
Directs the President, in consultation with other Federal agencies, to report to Congress with recommendations concerning: (1) the effect of foreign takeovers on domestic financial institutions; (2) the potential impact of various possible foreign policy changes on such institutions controlled by foreigners; and (3) the adequacy of existing regulations and laws to handle problems.
Introduced in Senate
Referred to Senate Committee on Banking, Housing and Urban Affairs.
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