A bill to authorize new powers for depository institutions.
Financial Institutions Competition Act - Amends the Investment Company Act of 1940 to permit a bank, a bank holding company or a subsidiary thereof, a savings and loan association, a savings bank, or a credit union to: (1) organize, sponsor, operate, control, or render investment advice to an investment company; or (2) underwrite, distribute, sell, or issue securities of any investment company if certain standards are met. Sets forth procedures to insure compliance with such standards.
Introduced in House
Introduced in House
Referred to House Committee on Banking, Finance and Urban Affairs.
Referred to House Committee on Energy and Commerce.
Referred to Subcommittee on Telecommunications, Consumer Protection and Finance.
Referred to Subcommittee on Financial Institutions Supervision, Regulation and Insurance.
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