S3734-119

In Committee

Close the Shadow Banking Loophole Act

119th Congress Introduced Jan 29, 2026

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

The bill expands a appropriation, loan guarantee, reporting req provision: 2. Industrial banks, expands a loan guarantee, reporting req, compliance mandate provision: 3, and expands a loan guarantee, reporting req, compliance mandate provision: 6. It relies on loan guarantees, reporting requirements, compliance mandates, and appropriations. The main policy areas are Defense and Finance.

Who Benefits and How

The available clause analysis does not identify a specific beneficiary group.

Who Bears the Burden and How

No clear private burden is identified from the available clause analysis; implementing agencies may still take on administrative work.

Key Provisions

  • Expands a appropriation, loan guarantee, reporting req provision: 2. Industrial banks.
  • Expands a loan guarantee, reporting req, compliance mandate provision: 3.
  • Expands a loan guarantee, reporting req, compliance mandate provision: 6.
  • Expands a loan guarantee, procurement, definition change provision: 4.

Evidence Chain:

This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for primary purpose and policy domains.

At a Glance

What This Bill Does

The bill expands a appropriation, loan guarantee, reporting req provision: 2. Industrial banks, expands a loan guarantee, reporting req, compliance mandate provision: 3, and expands a loan guarantee, reporting req, compliance mandate provision: 6.

Key Policy Areas

Defense, Finance

Primary Purpose

The bill expands a appropriation, loan guarantee, reporting req provision: 2. Industrial banks, expands a loan guarantee, reporting req, compliance mandate provision: 3, and expands a loan guarantee, reporting req, compliance mandate provision: 6.

Policy Domains

Defense Finance

Legislative Progress

In Committee
Introduced Committee Passed
Jan 29, 2026

Read twice and referred to the Committee on Banking, Housing, …

Jan 29, 2026

Introduced in Senate

Jan 29, 2026

Mr. Kennedy (for himself and Mr. Kim) introduced the following …

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?

Domains
Defense Finance
Actor Mappings
"federal_implementing_agencies"
→ Federal agencies assigned duties by the bill

Key Definitions

Terms defined in this bill

2 terms
"parent company of an industrial loan company" §HC178C7DCEDD649B4B8A6B65B75B92DEB

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))

"parent company of an industrial loan company" §HDEC7997F878A44668561D1F195813D85

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