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risky activities and limiting conflicts of interest, to reinstate certain Glass-Steagall Act protections that were repealed by the Gramm-Leach-Bliley Act, and for other purposes.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risky activities and limiting conflicts of interest, to reinstate certain Glass-Steagall Act protections that were repealed by the Gramm-Leach-Bliley Act, and for other purposes.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risky activities and limiting conflicts of interest, to reinstate certain Glass-Steagall Act protections that were repealed by the Gramm-Leach-Bliley Act, and for other purposes.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
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.
NumberSponsorDate OfferedStatus
scale for bar graph of contributions

Contributions

  1. January - February 2008 For $475,229 Against $229,260
  2. March - April 2008 For $1,069,725 Against $309,183
  3. May - June 2008 For $1,726,604 Against $364,316
  4. July - August 2008 For $1,007,303 Against $235,355
  5. September - October 2008 For $3,396,799 Against $435,749
  6. November - December 2008 For $388,123 Against $128,099
  7. January - February 2009 For $164,383 Against $102,200
  8. March - April 2009 For $340,085 Against $220,380
  9. May - June 2009 For $376,956 Against $257,825
  10. July - August 2009 For $75,121 Against $155,525
  11. September - October 2009 For $305,636 Against $306,422
  12. November - December 2009 For $255,726 Against $253,225
  13. January - February 2010 For $139,030 Against $251,300
  14. March - April 2010 For $493,127 Against $525,700
  15. May - June 2010 For $487,767 Against $402,191
  16. July - August 2010 For $471,278 Against $393,357
  17. September - October 2010 For $1,158,216 Against $748,244
  18. November - December 2010 For $95,031 Against $151,050
  19. January - February 2011 For $247,425 Against $200,340
  20. March - April 2011 For $445,217 Against $585,585
  21. May - June 2011 For $447,302 Against $504,162
  22. July - August 2011 For $240,048 Against $229,921
  23. September - October 2011 For $686,870 Against $320,156
  24. November - December 2011 For $597,659 Against $275,480
  25. January - February 2012 For $393,213 Against $219,562
  26. March - April 2012 For $745,975 Against $436,583
  27. May - June 2012 For $1,122,021 Against $512,203
  28. July - August 2012 For $797,287 Against $362,248
  29. September - October 2012 For $2,425,243 Against $543,873
  30. November - December 2012 For $254,462 Against $202,610
  31. January - February 2013 For $140,445 Against $190,518
  32. March - April 2013 For $259,116 Against $420,109
  33. May - June 2013 For $215,487 Against $287,275
  34. July - August 2013 For $129,376 Against $250,528
  35. September - October 2013 For $202,945 Against $252,288
  36. November - December 2013 For $46,439 Against $124,851

Votes

    36 Organizations Support and 3 Oppose; See Which Ones

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

    36 organizations support 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.
    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 Automobile Workers
    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 oppose 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, 2008 – December 31, 2013.
    Contributions data source: OpenSecrets.org

    Contributions by Legislator

    Namesort iconPartyState$ From Interest Groups
    That Support
    $ From Interest Groups
    That Oppose
    Andrew Lamar AlexanderRTN$20,900$97,950
    Kelly AyotteRNH$10,000$56,016
    Tammy BaldwinDWI$917,387$29,850
    John BarrassoRWY$11,000$101,249
    Mark BegichDAK$564,991$58,625
    Michael BennetDCO$442,942$194,772
    Richard BlumenthalDCT$156,106$45,590
    Roy BluntRMO$26,698$245,583
    John BoozmanRAR$13,300$84,100
    Barbara BoxerDCA$895,023$39,050
    Sherrod BrownDOH$646,478$127,880
    Richard BurrRNC$41,042$200,407
    Maria CantwellDWA$170,178$21,150
    Ben CardinDMD$137,775$38,250
    Tom CarperDDE$52,620$196,700
    Bob CaseyDPA$194,354$109,680
    Clarence Saxby ChamblissRGA$71,275$129,100
    Daniel CoatsRIN$12,650$97,300
    Tom CoburnROK$1,250$56,750
    William Thad CochranRMS$25,550$16,500
    Susan CollinsRME$24,800$76,384
    Chris CoonsDDE$132,704$124,716
    Bob CorkerRTN$23,600$385,900
    John CornynRTX$33,275$281,980
    Mike CrapoRID$10,300$127,200
    Ted CruzRTX$10,500$203,810
    Joe DonnellyDIN$304,522$112,100
    Dick DurbinDIL$153,971$38,700
    Mike EnziRWY$17,500$35,150
    Dianne FeinsteinDCA$91,434$78,650
    Deb FischerRNE$15,200$121,200
    Jeff FlakeRAZ$24,250$108,872
    Alan FrankenDMN$1,052,710$49,400
    Kirsten GillibrandDNY$597,097$460,616
    Lindsey GrahamRSC$14,700$84,622
    Chuck GrassleyRIA$24,150$60,250
    Kay HaganDNC$1,900,087$224,633
    Tom HarkinDIA$113,563$28,000
    Orrin HatchRUT$37,850$172,800
    Martin HeinrichDNM$1,197,776$34,574
    Heidi HeitkampDND$149,326$59,450
    Dean HellerRNV$29,500$201,172
    Mazie HironoDHI$252,243$63,000
    John HoevenRND$7,700$82,000
    Jim InhofeROK$7,799$56,150
    Johnny IsaksonRGA$16,650$125,400
    Mike JohannsRNE$21,950$58,800
    Ron JohnsonRWI$7,000$103,641
    Tim JohnsonDSD$158,024$218,845
    Timothy KaineDVA$626,279$85,500
    Angus KingIME$74,685$30,650
    Mark KirkRIL$42,680$233,475
    Amy KlobucharDMN$111,063$154,039
    Mary LandrieuDLA$184,494$77,900
    Patrick LeahyDVT$129,300$12,000
    Mike LeeRUT$3,400$33,050
    Carl LevinDMI$105,898$29,850
    Joe ManchinDWV$185,015$129,550
    John McCainRAZ$4,050$54,600
    Claire McCaskillDMO$262,197$110,525
    Addison "Mitch" McConnellRKY$49,944$535,430
    Bob MenéndezDNJ$119,150$112,858
    Jeff MerkleyDOR$611,588$37,663
    Barbara MikulskiDMD$72,800$11,250
    Jerry MoranRKS$60,599$145,434
    Lisa MurkowskiRAK$18,750$40,520
    Chris MurphyDCT$716,884$154,050
    Patty MurrayDWA$334,048$37,475
    Clarence "Bill" NelsonDFL$237,395$109,150
    Rand PaulRKY$13,500$50,551
    Rob PortmanROH$26,500$420,074
    Mark PryorDAR$73,850$47,650
    John "Jack" ReedDRI$73,660$105,300
    Harry ReidDNV$430,204$151,700
    Jim RischRID$8,050$57,750
    Charles "Pat" RobertsRKS$33,117$122,200
    John "Jay" RockefellerDWV$78,425$13,800
    Marco RubioRFL$58,780$98,370
    Bernie SandersIVT$383,495$700
    Brian SchatzDHI$57,801$54,999
    Chuck SchumerDNY$230,950$237,050
    Tim ScottRSC$8,900$97,400
    Jeff SessionsRAL$9,700$43,282
    Jeanne ShaheenDNH$575,123$63,270
    Richard ShelbyRAL$21,400$251,950
    Debbie StabenowDMI$232,669$176,662
    Jon TesterDMT$522,352$348,119
    John ThuneRSD$32,269$158,905
    Patrick ToomeyRPA$51,932$213,816
    Mark UdallDCO$694,896$49,037
    Tom UdallDNM$710,492$20,233
    David VitterRLA$51,800$86,750
    Mark WarnerDVA$760,892$354,300
    Elizabeth WarrenDMA$1,625,453$75,000
    Sheldon WhitehouseDRI$172,740$23,150
    Roger WickerRMS$24,500$164,319
    Ron WydenDOR$67,300$41,850

    Add Data Filters:

    Legislator Filters
    Legislator Filters
    Show All
    NamePartyState$ From Interest Groups
    That Support
    $ From Interest Groups
    That Oppose
    Andrew Lamar AlexanderRTN$20,900$97,950
    Kelly AyotteRNH$10,000$56,016
    Tammy BaldwinDWI$917,387$29,850
    John BarrassoRWY$11,000$101,249
    Mark BegichDAK$564,991$58,625
    Michael BennetDCO$442,942$194,772
    Richard BlumenthalDCT$156,106$45,590
    Roy BluntRMO$26,698$245,583
    John BoozmanRAR$13,300$84,100
    Barbara BoxerDCA$895,023$39,050
    Sherrod BrownDOH$646,478$127,880
    Richard BurrRNC$41,042$200,407
    Maria CantwellDWA$170,178$21,150
    Ben CardinDMD$137,775$38,250
    Tom CarperDDE$52,620$196,700
    Bob CaseyDPA$194,354$109,680
    Clarence Saxby ChamblissRGA$71,275$129,100
    Daniel CoatsRIN$12,650$97,300
    Tom CoburnROK$1,250$56,750
    William Thad CochranRMS$25,550$16,500
    Susan CollinsRME$24,800$76,384
    Chris CoonsDDE$132,704$124,716
    Bob CorkerRTN$23,600$385,900
    John CornynRTX$33,275$281,980
    Mike CrapoRID$10,300$127,200
    Ted CruzRTX$10,500$203,810
    Joe DonnellyDIN$304,522$112,100
    Dick DurbinDIL$153,971$38,700
    Mike EnziRWY$17,500$35,150
    Dianne FeinsteinDCA$91,434$78,650
    Deb FischerRNE$15,200$121,200
    Jeff FlakeRAZ$24,250$108,872
    Alan FrankenDMN$1,052,710$49,400
    Kirsten GillibrandDNY$597,097$460,616
    Lindsey GrahamRSC$14,700$84,622
    Chuck GrassleyRIA$24,150$60,250
    Kay HaganDNC$1,900,087$224,633
    Tom HarkinDIA$113,563$28,000
    Orrin HatchRUT$37,850$172,800
    Martin HeinrichDNM$1,197,776$34,574
    Heidi HeitkampDND$149,326$59,450
    Dean HellerRNV$29,500$201,172
    Mazie HironoDHI$252,243$63,000
    John HoevenRND$7,700$82,000
    Jim InhofeROK$7,799$56,150
    Johnny IsaksonRGA$16,650$125,400
    Mike JohannsRNE$21,950$58,800
    Ron JohnsonRWI$7,000$103,641
    Tim JohnsonDSD$158,024$218,845
    Timothy KaineDVA$626,279$85,500
    Angus KingIME$74,685$30,650
    Mark KirkRIL$42,680$233,475
    Amy KlobucharDMN$111,063$154,039
    Mary LandrieuDLA$184,494$77,900
    Patrick LeahyDVT$129,300$12,000
    Mike LeeRUT$3,400$33,050
    Carl LevinDMI$105,898$29,850
    Joe ManchinDWV$185,015$129,550
    John McCainRAZ$4,050$54,600
    Claire McCaskillDMO$262,197$110,525
    Addison "Mitch" McConnellRKY$49,944$535,430
    Bob MenéndezDNJ$119,150$112,858
    Jeff MerkleyDOR$611,588$37,663
    Barbara MikulskiDMD$72,800$11,250
    Jerry MoranRKS$60,599$145,434
    Lisa MurkowskiRAK$18,750$40,520
    Chris MurphyDCT$716,884$154,050
    Patty MurrayDWA$334,048$37,475
    Clarence "Bill" NelsonDFL$237,395$109,150
    Rand PaulRKY$13,500$50,551
    Rob PortmanROH$26,500$420,074
    Mark PryorDAR$73,850$47,650
    John "Jack" ReedDRI$73,660$105,300
    Harry ReidDNV$430,204$151,700
    Jim RischRID$8,050$57,750
    Charles "Pat" RobertsRKS$33,117$122,200
    John "Jay" RockefellerDWV$78,425$13,800
    Marco RubioRFL$58,780$98,370
    Bernie SandersIVT$383,495$700
    Brian SchatzDHI$57,801$54,999
    Chuck SchumerDNY$230,950$237,050
    Tim ScottRSC$8,900$97,400
    Jeff SessionsRAL$9,700$43,282
    Jeanne ShaheenDNH$575,123$63,270
    Richard ShelbyRAL$21,400$251,950
    Debbie StabenowDMI$232,669$176,662
    Jon TesterDMT$522,352$348,119
    John ThuneRSD$32,269$158,905
    Patrick ToomeyRPA$51,932$213,816
    Mark UdallDCO$694,896$49,037
    Tom UdallDNM$710,492$20,233
    David VitterRLA$51,800$86,750
    Mark WarnerDVA$760,892$354,300
    Elizabeth WarrenDMA$1,625,453$75,000
    Sheldon WhitehouseDRI$172,740$23,150
    Roger WickerRMS$24,500$164,319
    Ron WydenDOR$67,300$41,850

    Interest Groups that support this bill

    $ Donated
    Democratic/Liberal$12,123,378
    Environmental policy$3,985,644
    Manufacturing unions$1,092,770
    State & local govt employee unions$586,070
    Commercial service unions$565,097
    Teamsters union$485,195
    Farm organizations & cooperatives$454,284
    Communications & hi-tech unions$443,300
    Health & welfare policy$440,250
    Churches, clergy & religious organizations$412,978
    Small business associations$335,949
    Elderly issues/Social Security$320,842
    Labor Unions$316,700
    Agriculture$155,612
    Human Rights$44,600
    Fiscal & tax policy$38,300
    Fuel oil dealers$19,700
    Consumer groups$2,000
    Automotive unions$0

    Interest Groups that oppose this bill

    $ Donated
    Commercial banks & bank holding companies$10,115,368
    Financial services & consulting$1,272,305
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