To address applications for deposit insurance submitted by industrial banks to the Federal Deposit Insurance Corporation, and for other purposes.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
This bill, To address applications for deposit insurance submitted by industrial banks to the Federal Deposit Insurance Corporation, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers. The main policy domain is Finance, Foreign Policy, Defense.
Who Benefits and How
financial institutions, investors, and borrowers may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.
Who Bears the Burden and How
federal implementing agencies, financial institutions, investors, and borrowers may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.
Key Provisions
- Section S1: 1. Short title This Act may be cited as the Close the Shadow Banking Loophole Act.
- Section id14D2A59F32144BD6AC0BF5DE310BD60B: 2. Industrial banks In this section: The term appropriate Federal banking agency has the meaning given the term in section 3(q) of the Federal Deposit...
- Section HC178C7DCEDD649B4B8A6B65B75B92DEB: 3. Supervision of parent companies of industrial loan companies The Bank Holding Company Act of 1956 (12 U.S.C. 1841 et seq.) is amended by inserting after...
- Section HDEC7997F878A44668561D1F195813D85: 6. Supervision of parent companies of industrial loan companies In this section: The term Corporation means the Federal Deposit Insurance Corporation. The term...
- Section HD6BA59CBF21F4AD8AB9FC1379632AD7A: 4. Application with respect to contracts and other agreements In this section, the term industrial loan company means an industrial loan company, industrial...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
This bill, To address applications for deposit insurance submitted by industrial banks to the Federal Deposit Insurance Corporation, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Key Policy Areas
Finance, Foreign Policy, Defense
Primary Purpose
This bill, To address applications for deposit insurance submitted by industrial banks to the Federal Deposit Insurance Corporation, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Policy Domains
Whole bill
Identified Gains
- financial institutions, investors, and borrowers
Identified Costs
- federal implementing agencies
- financial institutions, investors, and borrowers
Sponsors
Legislative Progress
IntroducedMr. Brown (for himself, Mr. Kennedy, Mr. Casey, Mr. Van …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "federal_implementing_agencies"
- → Federal agencies assigned duties by the bill
Key Definitions
Terms defined in this bill
a company— that is not directly or indirectly subject to a primary financial regulatory agency (as defined in section 2 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (12 U.S.C. 5301))
a company— that is not directly or indirectly subject to a primary financial regulatory agency (as defined in section 2 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (12 U.S.C. 5301))
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology