S. 1282 - 21st Century Glass-Steagall Act of 2013

Finance and financial sector. 113th Congress (2013-2014) View bill details
Sponsor:
Summary:
A bill to reduce risks to the financial system by limiting banks' ability to engage in certain risky activities and limiting conflicts of interest, to reinstate certain Glass-Steagall Act protections that were repealed by the Gramm-Leach-Bliley Act, and for other purposes. (by CRS) 
Status:
The bill has been referred to committee. 
There have been no votes on this bill.

21st Century Glass-Steagall Act of 2013

S. 1282 — 113th Congress (2013–2014)

Summary
A bill to reduce risks to the financial system by limiting banks' ability to engage in certain risky activities and limiting conflicts of interest, to reinstate certain Glass-Steagall Act protections that were repealed by the Gramm-Leach-Bliley Act, and for other purposes. (by CRS)
Learn More
At OpenCongress
Title
A bill to reduce risks to the financial system by limiting banks' ability to engage in certain risky activities and limiting conflicts of interest, to reinstate certain Glass-Steagall Act protections that were repealed by the Gramm-Leach-Bliley Act, and for other purposes.
Other Titles
  • 21st Century Glass-Steagall Act of 2013
  • 21st Century Glass-Steagall Act of 2013
Sponsor
Elizabeth Warren
Co-Sponsors
Subjects
  • Finance and financial sector
  • Banking and financial institutions regulation
  • Bankruptcy
  • Congressional oversight
  • Contracts and agency
  • Financial services and investments
  • Insurance industry and regulation
  • Securities
Related Bills
Major Actions
Introduced7/11/2013
Referred to Committee
Bill History

There have been no votes on this bill.

ActionDateDescription
Introduced7/11/2013
7/11/2013Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
7/11/2013Sponsor introductory remarks on measure.
7/11/2013Introduced in Senate
NumberSponsorDate OfferedStatus
scale for bar graph of contributions

Contributions

  1. January - February 2009 For $145,923 Against $117,080
  2. March - April 2009 For $310,220 Against $261,255
  3. May - June 2009 For $310,356 Against $308,325
  4. July - August 2009 For $85,766 Against $187,755
  5. September - October 2009 For $282,744 Against $328,672
  6. November - December 2009 For $228,593 Against $277,775
  7. January - February 2010 For $106,565 Against $288,025
  8. March - April 2010 For $421,922 Against $519,975
  9. May - June 2010 For $456,787 Against $436,441
  10. July - August 2010 For $452,002 Against $430,144
  11. September - October 2010 For $1,137,076 Against $806,981
  12. November - December 2010 For $96,787 Against $160,400
  13. January - February 2011 For $245,475 Against $205,180
  14. March - April 2011 For $444,917 Against $598,085
  15. May - June 2011 For $445,652 Against $514,112
  16. July - August 2011 For $241,048 Against $229,571
  17. September - October 2011 For $669,854 Against $331,156
  18. November - December 2011 For $600,441 Against $297,479
  19. January - February 2012 For $397,945 Against $228,312
  20. March - April 2012 For $715,401 Against $445,864
  21. May - June 2012 For $1,129,870 Against $521,953
  22. July - August 2012 For $814,569 Against $376,548
  23. September - October 2012 For $2,439,315 Against $561,473
  24. November - December 2012 For $264,929 Against $217,010
  25. January - February 2013 For $141,771 Against $228,728
  26. March - April 2013 For $291,294 Against $447,559
  27. May - June 2013 For $305,366 Against $325,675
  28. July - August 2013 For $187,934 Against $282,206
  29. September - October 2013 For $331,145 Against $344,596
  30. November - December 2013 For $326,647 Against $335,893
  31. January - February 2014 For $204,583 Against $259,320
  32. March - April 2014 For $577,461 Against $474,004
  33. May - June 2014 For $734,955 Against $440,844
  34. July - August 2014 For $548,768 Against $280,020
  35. September - October 2014 For $1,434,965 Against $606,924
  36. November - December 2014 For $144,427 Against $110,970

Votes

    36 Organizations Supported and 3 Opposed; See Which Ones

    Organizations that took a position on
    21st Century Glass-Steagall Act of 2013

    36 organizations supported this bill

    AFL-CIO
    undersigned organizations (2014, June 0). Coalition Letter on S 1282. Retrieved July 9, 2014, from Americans for Financial Reform.
    Alliance for a Just Society
    undersigned organizations (2014, June 0). Coalition Letter on S 1282. Retrieved July 9, 2014, from Americans for Financial Reform.
    American Federation of State, County and Municipal Employees
    undersigned organizations (2014, June 0). Coalition Letter on S 1282. Retrieved July 9, 2014, from Americans for Financial Reform.
    Americans for Financial Reform
    Jim Lardner (2013, July 11). AFR Statement On Warren/McCain/Cantwell/King ‘21st Century Glass Steagall Act’. Retrieved July 17, 2013, from Our Financial Security.
    Center for Effective Government
    undersigned organizations (2014, June 0). Coalition Letter on S 1282. Retrieved July 9, 2014, from Americans for Financial Reform.
    Center for Popular Democracy
    undersigned organizations (2014, June 0). Coalition Letter on S 1282. Retrieved July 9, 2014, from Americans for Financial Reform.
    Communications Workers of America
    undersigned organizations (2014, June 0). Coalition Letter on S 1282. Retrieved July 9, 2014, from Americans for Financial Reform.
    Consumer Action
    undersigned organizations (2014, June 0). Coalition Letter on S 1282. Retrieved July 9, 2014, from Americans for Financial Reform.
    Consumers Union
    undersigned organizations (2014, June 0). Coalition Letter on S 1282. Retrieved July 9, 2014, from Americans for Financial Reform.
    Demos
    Alex Amend (2013, July 12). Reinstating Glass-Steagall for the 21st Century. Retrieved July 17, 2013, from Demos.
    Gray Panthers
    undersigned organizations (2014, June 0). Coalition Letter on S 1282. Retrieved July 9, 2014, from Americans for Financial Reform.
    Green America
    undersigned organizations (2014, June 0). Coalition Letter on S 1282. Retrieved July 9, 2014, from Americans for Financial Reform.
    Institute for Agriculture and Trade Policy
    undersigned organizations (2014, June 0). Coalition Letter on S 1282. Retrieved July 9, 2014, from Americans for Financial Reform.
    International Association of Machinists and Aerospace Workers
    undersigned organizations (2014, June 0). Coalition Letter on S 1282. Retrieved July 9, 2014, from Americans for Financial Reform.
    International Brotherhood of Teamsters
    undersigned organizations (2014, June 0). Coalition Letter on S 1282. Retrieved July 9, 2014, from Americans for Financial Reform.
    International Union, United Automobile, Aerospace and Agricultural Implement Workers of America
    undersigned organizations (2014, June 0). Coalition Letter on S 1282. Retrieved July 9, 2014, from Americans for Financial Reform.
    Jobs with Justice
    undersigned organizations (2014, June 0). Coalition Letter on S 1282. Retrieved July 9, 2014, from Americans for Financial Reform.
    LaRouche PAC
    LaRouchePAC Policy Committee (2013, July 29). FINAL WEEK FOR CONGRESS TO ACT: WE CAN WIN GLASS-STEAGALL. Retrieved August 13, 2013, from LaRouchePAC.
    Leadership Conference on Civil and Human Rights
    undersigned organizations (2014, June 0). Coalition Letter on S 1282. Retrieved July 9, 2014, from Americans for Financial Reform.
    Main Street Alliance
    Welter, Joshua (2013, July 18). With Wall Street “Too Big to Fail,” is Main Street “Too Small to Prevail"?. Retrieved August 13, 2013, from Alliance for a Just Society.
    Missionary Oblates of Mary Immaculate
    undersigned organizations (2014, June 0). Coalition Letter on S 1282. Retrieved July 9, 2014, from Americans for Financial Reform.
    National Association of Consumer Advocates
    undersigned organizations (2014, June 0). Coalition Letter on S 1282. Retrieved July 9, 2014, from Americans for Financial Reform.
    National Community Reinvestment Coalition
    undersigned organizations (2014, June 0). Coalition Letter on S 1282. Retrieved July 9, 2014, from Americans for Financial Reform.
    National Farmers Organization
    National Farmers (2013, July 23). National Farmers supports legislation for increased banking, economic security . Retrieved August 13, 2013, from National Farmers Latest.
    National Housing Law Project
    undersigned organizations (2014, June 0). Coalition Letter on S 1282. Retrieved July 9, 2014, from Americans for Financial Reform.
    National People's Action
    undersigned organizations (2014, June 0). Coalition Letter on S 1282. Retrieved July 9, 2014, from Americans for Financial Reform.
    New England Fuel Institute
    undersigned organizations (2014, June 0). Coalition Letter on S 1282. Retrieved July 9, 2014, from Americans for Financial Reform.
    PICO National Network
    undersigned organizations (2014, June 0). Coalition Letter on S 1282. Retrieved July 9, 2014, from Americans for Financial Reform.
    Progressives United
    PU (2013, July 13). Sign on to the 21st Century Glass-Steagall Act. Retrieved July 17, 2013, from PU.
    Public Citizen
    Bartlett Naylor (2013, July 11). Public Citizen Welcomes Warren-McCain 21st Century Reinstatement of Glass-Steagall. Retrieved July 17, 2013, from Public Citizen.
    SAFER - Committee of Economists for Safe and Efficient Financial Reform
    undersigned organizations (2014, June 0). Coalition Letter on S 1282. Retrieved July 9, 2014, from Americans for Financial Reform.
    Service Employees International Union
    undersigned organizations (2014, June 0). Coalition Letter on S 1282. Retrieved July 9, 2014, from Americans for Financial Reform.
    U.S. PIRG
    undersigned organizations (2014, June 0). Coalition Letter on S 1282. Retrieved July 9, 2014, from Americans for Financial Reform.
    United Church of Christ, Justice and Witness Ministries
    undersigned organizations (2014, June 0). Coalition Letter on S 1282. Retrieved July 9, 2014, from Americans for Financial Reform.
    United for a Fair Economy
    undersigned organizations (2014, June 0). Coalition Letter on S 1282. Retrieved July 9, 2014, from Americans for Financial Reform.
    USAction
    undersigned organizations (2014, June 0). Coalition Letter on S 1282. Retrieved July 9, 2014, from Americans for Financial Reform.

    3 organizations opposed this bill

    Bank of America
    Touryalai, Halah (2013, July 11). Elizabeth Warren Hits Big Banks Where It Hurts, New Bill Would Restore Glass-Steagall. Retrieved July 17, 2013, from Forbes.
    Financial Services Forum
    Politi, James. & Kirchgaessner, Stephanie. (2013, July 12). Bill to restore Glass-Steagall unnerves Wall St. Financial Times. Retrieved July 23, 2013, from http://www.ft.com/intl/cms/s/0/0678f04c-eb15-11e2-bfdb-00144feabdc0.html.
    JPMorgan Chase
    Touryalai, Halah (2013, July 11). Elizabeth Warren Hits Big Banks Where It Hurts, New Bill Would Restore Glass-Steagall. Forbes. Retrieved July 17, 2013, from http://www.forbes.com/sites/halahtouryalai/2013/07/11/elizabeth-warren-hits-big-banks-where-it-hurts-new-bill-would-restore-glass-steagall/.

    Need proof?

    View citations of support and opposition

    Includes reported contributions to congressional campaigns of Senators in office during the 113th U.S. Congress, from interest groups invested in the vote according to MapLight, January 1, 2009 – December 31, 2014.
    Contributions data source: OpenSecrets.org

    Contributions by Legislator

    Namesort iconPartyState$ From Interest Groups
    That Supported
    $ From Interest Groups
    That Opposed
    Andrew Lamar AlexanderRTN$44,378$115,550
    Kelly AyotteRNH$13,500$71,766
    Tammy BaldwinDWI$882,980$28,350
    John BarrassoRWY$10,000$68,833
    Max BaucusDMT$29,050$106,900
    Mark BegichDAK$390,749$72,825
    Michael F. BennetDCO$401,650$205,472
    Richard BlumenthalDCT$155,256$52,400
    Roy BluntRMO$48,042$332,833
    John BoozmanRAR$11,000$84,730
    Barbara BoxerDCA$579,705$41,000
    Sherrod BrownDOH$642,894$147,880
    Richard BurrRNC$35,092$193,134
    Maria CantwellDWA$142,700$25,300
    Ben CardinDMD$141,025$35,250
    Tom CarperDDE$51,020$202,410
    Bob CaseyDPA$204,204$96,810
    Clarence Saxby ChamblissRGA$7,500$26,200
    Jeff ChiesaRNJ$0$0
    Daniel CoatsRIN$12,650$102,050
    Tom CoburnROK$1,000$53,650
    William Thad CochranRMS$57,900$103,000
    Susan M. CollinsRME$60,550$72,250
    Christopher A. CoonsDDE$269,646$239,216
    Bob CorkerRTN$16,100$364,500
    John CornynRTX$15,750$336,840
    William M. CowanDMA$0$0
    Mike CrapoRID$9,300$141,550
    Ted CruzRTX$13,050$256,160
    Joe DonnellyDIN$285,277$113,750
    Dick DurbinDIL$191,709$25,100
    Mike EnziRWY$12,750$56,900
    Dianne FeinsteinDCA$92,378$78,150
    Deb FischerRNE$16,500$126,450
    Jeff FlakeRAZ$11,750$117,122
    Al FrankenDMN$497,147$55,300
    Kirsten E. GillibrandDNY$428,509$456,070
    Lindsey GrahamRSC$51,363$140,422
    Chuck GrassleyRIA$22,300$56,200
    Kay R. HaganDNC$488,996$265,450
    Tom HarkinDIA$40,903$3,000
    Orrin G. HatchRUT$30,850$180,233
    Martin HeinrichDNM$648,725$33,774
    Heidi HeitkampDND$151,250$67,450
    Dean HellerRNV$23,500$179,353
    Mazie K. HironoDHI$233,442$57,600
    John HoevenRND$15,300$107,100
    Jim InhofeROK$3,500$56,550
    Johnny IsaksonRGA$19,400$143,680
    Mike JohannsRNE$5,500$16,450
    Ron JohnsonRWI$7,250$86,991
    Tim JohnsonDSD$15,300$164,050
    Tim KaineDVA$624,729$98,500
    Angus S. King, Jr.IME$79,185$29,950
    Mark KirkRIL$23,970$282,910
    Amy KlobucharDMN$114,785$168,289
    Mary L. LandrieuDLA$350,528$124,800
    Patrick J. LeahyDVT$102,875$5,250
    Mike LeeRUT$3,400$56,422
    Carl LevinDMI$0$0
    Joe Manchin, IIIDWV$209,665$152,400
    John McCainRAZ$8,550$110,650
    Claire McCaskillDMO$262,058$117,025
    Addison "Mitch" McConnellRKY$46,400$590,144
    Bob MenéndezDNJ$123,200$125,008
    Jeff MerkleyDOR$334,001$45,166
    Barbara A. MikulskiDMD$81,100$13,250
    Jerry MoranRKS$41,349$163,890
    Lisa MurkowskiRAK$22,750$34,470
    Chris MurphyDCT$660,064$134,350
    Patty MurrayDWA$322,472$50,204
    Clarence "Bill" NelsonDFL$234,776$113,650
    Rand PaulRKY$14,700$81,801
    Rob PortmanROH$48,690$589,274
    Mark L. PryorDAR$217,800$85,950
    John "Jack" ReedDRI$60,050$98,100
    Harry ReidDNV$395,041$129,000
    Jim RischRID$16,500$61,500
    Charles "Pat" RobertsRKS$34,656$171,900
    John "Jay" RockefellerDWV$12,275$0
    Marco RubioRFL$51,293$147,135
    Bernie SandersIVT$391,402$700
    Brian SchatzDHI$227,215$81,848
    Chuck SchumerDNY$205,150$408,900
    Tim ScottRSC$13,650$157,295
    Jeff SessionsRAL$12,000$35,100
    Jeanne ShaheenDNH$438,618$75,400
    Richard C. ShelbyRAL$17,700$213,650
    Debbie StabenowDMI$240,029$175,112
    Jon TesterDMT$503,852$362,119
    John ThuneRSD$29,150$180,830
    Patrick J. ToomeyRPA$69,382$290,116
    Mark UdallDCO$989,253$53,375
    Tom UdallDNM$324,733$33,570
    David VitterRLA$49,850$82,450
    Mark R. WarnerDVA$148,852$410,600
    Elizabeth WarrenDMA$1,702,731$96,500
    Sheldon WhitehouseDRI$176,040$27,650
    Roger F. WickerRMS$12,450$94,253
    Ron WydenDOR$84,264$61,850

    Add Data Filters:

    Legislator Filters
    Legislator Filters
    Show All
    NamePartyState$ From Interest Groups
    That Supported
    $ From Interest Groups
    That Opposed
    Andrew Lamar AlexanderRTN$44,378$115,550
    Kelly AyotteRNH$13,500$71,766
    Tammy BaldwinDWI$882,980$28,350
    John BarrassoRWY$10,000$68,833
    Max BaucusDMT$29,050$106,900
    Mark BegichDAK$390,749$72,825
    Michael F. BennetDCO$401,650$205,472
    Richard BlumenthalDCT$155,256$52,400
    Roy BluntRMO$48,042$332,833
    John BoozmanRAR$11,000$84,730
    Barbara BoxerDCA$579,705$41,000
    Sherrod BrownDOH$642,894$147,880
    Richard BurrRNC$35,092$193,134
    Maria CantwellDWA$142,700$25,300
    Ben CardinDMD$141,025$35,250
    Tom CarperDDE$51,020$202,410
    Bob CaseyDPA$204,204$96,810
    Clarence Saxby ChamblissRGA$7,500$26,200
    Jeff ChiesaRNJ$0$0
    Daniel CoatsRIN$12,650$102,050
    Tom CoburnROK$1,000$53,650
    William Thad CochranRMS$57,900$103,000
    Susan M. CollinsRME$60,550$72,250
    Christopher A. CoonsDDE$269,646$239,216
    Bob CorkerRTN$16,100$364,500
    John CornynRTX$15,750$336,840
    William M. CowanDMA$0$0
    Mike CrapoRID$9,300$141,550
    Ted CruzRTX$13,050$256,160
    Joe DonnellyDIN$285,277$113,750
    Dick DurbinDIL$191,709$25,100
    Mike EnziRWY$12,750$56,900
    Dianne FeinsteinDCA$92,378$78,150
    Deb FischerRNE$16,500$126,450
    Jeff FlakeRAZ$11,750$117,122
    Al FrankenDMN$497,147$55,300
    Kirsten E. GillibrandDNY$428,509$456,070
    Lindsey GrahamRSC$51,363$140,422
    Chuck GrassleyRIA$22,300$56,200
    Kay R. HaganDNC$488,996$265,450
    Tom HarkinDIA$40,903$3,000
    Orrin G. HatchRUT$30,850$180,233
    Martin HeinrichDNM$648,725$33,774
    Heidi HeitkampDND$151,250$67,450
    Dean HellerRNV$23,500$179,353
    Mazie K. HironoDHI$233,442$57,600
    John HoevenRND$15,300$107,100
    Jim InhofeROK$3,500$56,550
    Johnny IsaksonRGA$19,400$143,680
    Mike JohannsRNE$5,500$16,450
    Ron JohnsonRWI$7,250$86,991
    Tim JohnsonDSD$15,300$164,050
    Tim KaineDVA$624,729$98,500
    Angus S. King, Jr.IME$79,185$29,950
    Mark KirkRIL$23,970$282,910
    Amy KlobucharDMN$114,785$168,289
    Mary L. LandrieuDLA$350,528$124,800
    Patrick J. LeahyDVT$102,875$5,250
    Mike LeeRUT$3,400$56,422
    Carl LevinDMI$0$0
    Joe Manchin, IIIDWV$209,665$152,400
    John McCainRAZ$8,550$110,650
    Claire McCaskillDMO$262,058$117,025
    Addison "Mitch" McConnellRKY$46,400$590,144
    Bob MenéndezDNJ$123,200$125,008
    Jeff MerkleyDOR$334,001$45,166
    Barbara A. MikulskiDMD$81,100$13,250
    Jerry MoranRKS$41,349$163,890
    Lisa MurkowskiRAK$22,750$34,470
    Chris MurphyDCT$660,064$134,350
    Patty MurrayDWA$322,472$50,204
    Clarence "Bill" NelsonDFL$234,776$113,650
    Rand PaulRKY$14,700$81,801
    Rob PortmanROH$48,690$589,274
    Mark L. PryorDAR$217,800$85,950
    John "Jack" ReedDRI$60,050$98,100
    Harry ReidDNV$395,041$129,000
    Jim RischRID$16,500$61,500
    Charles "Pat" RobertsRKS$34,656$171,900
    John "Jay" RockefellerDWV$12,275$0
    Marco RubioRFL$51,293$147,135
    Bernie SandersIVT$391,402$700
    Brian SchatzDHI$227,215$81,848
    Chuck SchumerDNY$205,150$408,900
    Tim ScottRSC$13,650$157,295
    Jeff SessionsRAL$12,000$35,100
    Jeanne ShaheenDNH$438,618$75,400
    Richard C. ShelbyRAL$17,700$213,650
    Debbie StabenowDMI$240,029$175,112
    Jon TesterDMT$503,852$362,119
    John ThuneRSD$29,150$180,830
    Patrick J. ToomeyRPA$69,382$290,116
    Mark UdallDCO$989,253$53,375
    Tom UdallDNM$324,733$33,570
    David VitterRLA$49,850$82,450
    Mark R. WarnerDVA$148,852$410,600
    Elizabeth WarrenDMA$1,702,731$96,500
    Sheldon WhitehouseDRI$176,040$27,650
    Roger F. WickerRMS$12,450$94,253
    Ron WydenDOR$84,264$61,850

    Interest Groups that supported this bill

    $ Donated
    Democratic/Liberal$6,929,704
    Environmental policy$5,262,910
    Manufacturing unions$930,220
    State & local govt employee unions$571,020
    Commercial service unions$477,700
    Churches, clergy & religious organizations$469,949
    Communications & hi-tech unions$419,850
    Farm organizations & cooperatives$414,289
    Teamsters union$404,845
    Automotive Manufacturing union$369,532
    Health & welfare policy$360,505
    Elderly issues/Social Security$319,693
    Small business associations$314,627
    Labor Unions$266,515
    Fuel oil dealers$66,514
    Fiscal & tax policy$48,650
    Human Rights$38,300
    Consumer groups$8,650

    Interest Groups that opposed this bill

    $ Donated
    Commercial banks & bank holding companies$10,988,114
    Financial services & consulting$1,798,196
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