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risky activities and limiting conflicts of interest, to reinstate certain Glass-Steagall Act protections that were repealed by the Gramm-Leach-Bliley Act, and for other purposes.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risky activities and limiting conflicts of interest, to reinstate certain Glass-Steagall Act protections that were repealed by the Gramm-Leach-Bliley Act, and for other purposes.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risky activities and limiting conflicts of interest, to reinstate certain Glass-Steagall Act protections that were repealed by the Gramm-Leach-Bliley Act, and for other purposes.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. September - October 2008 For $1,796,737 Against $237,950
  2. November - December 2008 For $387,373 Against $128,099
  3. January - February 2009 For $165,683 Against $102,950
  4. March - April 2009 For $337,885 Against $220,380
  5. May - June 2009 For $374,206 Against $257,825
  6. July - August 2009 For $73,971 Against $155,525
  7. September - October 2009 For $297,636 Against $310,822
  8. November - December 2009 For $254,726 Against $254,225
  9. January - February 2010 For $138,830 Against $252,800
  10. March - April 2010 For $484,527 Against $526,700
  11. May - June 2010 For $487,767 Against $402,191
  12. July - August 2010 For $467,378 Against $394,607
  13. September - October 2010 For $1,148,516 Against $754,244
  14. November - December 2010 For $95,531 Against $152,050
  15. January - February 2011 For $246,925 Against $200,340
  16. March - April 2011 For $443,467 Against $586,585
  17. May - June 2011 For $440,902 Against $504,162
  18. July - August 2011 For $239,048 Against $230,921
  19. September - October 2011 For $684,351 Against $320,156
  20. November - December 2011 For $596,159 Against $279,980
  21. January - February 2012 For $392,913 Against $219,562
  22. March - April 2012 For $735,575 Against $439,983
  23. May - June 2012 For $1,121,771 Against $514,703
  24. July - August 2012 For $786,287 Against $366,748
  25. September - October 2012 For $2,414,193 Against $541,373
  26. November - December 2012 For $264,212 Against $206,110
  27. January - February 2013 For $185,022 Against $250,968
  28. March - April 2013 For $401,502 Against $459,159
  29. May - June 2013 For $338,565 Against $312,775
  30. July - August 2013 For $236,567 Against $276,606
  31. September - October 2013 For $464,105 Against $343,775
  32. November - December 2013 For $428,502 Against $331,943
  33. January - February 2014 For $349,558 Against $278,320
  34. March - April 2014 For $834,417 Against $473,364
  35. May - June 2014 For $1,039,988 Against $444,944
  36. July - August 2014 For $529,566 Against $218,520
  37. September - October 2014 For $1,034,244 Against $284,375

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, October 1, 2008 – September 30, 2014.
    Contributions data source: OpenSecrets.org

    Contributions by Legislator

    Namesort iconPartyState$ From Interest Groups
    That Supported
    $ From Interest Groups
    That Opposed
    Andrew Lamar AlexanderRTN$38,478$120,150
    Kelly AyotteRNH$12,500$76,916
    Tammy BaldwinDWI$876,817$26,300
    John BarrassoRWY$10,000$81,999
    Max BaucusDMT$42,300$102,300
    Mark BegichDAK$569,958$83,575
    Michael F. BennetDCO$446,764$190,772
    Richard BlumenthalDCT$158,356$51,790
    Roy BluntRMO$33,198$253,883
    John BoozmanRAR$11,300$79,600
    Barbara BoxerDCA$825,098$32,300
    Sherrod BrownDOH$644,228$144,130
    Richard BurrRNC$35,092$188,307
    Maria CantwellDWA$151,578$21,200
    Ben CardinDMD$139,275$32,750
    Tom CarperDDE$50,520$199,260
    Bob CaseyDPA$196,854$105,230
    Clarence Saxby ChamblissRGA$53,200$104,750
    Jeff ChiesaRNJ$0$0
    Daniel CoatsRIN$13,650$100,900
    Tom CoburnROK$1,000$52,150
    William Thad CochranRMS$62,400$91,500
    Susan M. CollinsRME$54,850$73,250
    Christopher A. CoonsDDE$224,256$219,866
    Bob CorkerRTN$16,600$377,150
    John CornynRTX$17,150$334,445
    William M. CowanDMA$0$0
    Mike CrapoRID$10,300$150,350
    Ted CruzRTX$9,450$231,560
    Joe DonnellyDIN$270,472$121,850
    Dick DurbinDIL$219,620$42,400
    Mike EnziRWY$15,250$50,300
    Dianne FeinsteinDCA$86,934$78,650
    Deb FischerRNE$14,200$122,700
    Jeff FlakeRAZ$11,500$105,122
    Al FrankenDMN$878,528$59,550
    Kirsten E. GillibrandDNY$494,767$449,820
    Lindsey GrahamRSC$50,863$148,222
    Chuck GrassleyRIA$20,900$61,250
    Kay R. HaganDNC$1,337,236$310,850
    Tom HarkinDIA$56,153$8,000
    Orrin G. HatchRUT$36,850$168,800
    Martin HeinrichDNM$783,123$39,024
    Heidi HeitkampDND$151,326$65,450
    Dean HellerRNV$24,500$180,772
    Mazie K. HironoDHI$231,433$57,850
    John HoevenRND$10,800$83,400
    Jim InhofeROK$3,500$45,700
    Johnny IsaksonRGA$16,400$131,890
    Mike JohannsRNE$10,500$23,450
    Ron JohnsonRWI$7,000$117,991
    Tim JohnsonDSD$50,200$166,550
    Tim KaineDVA$646,479$87,500
    Angus S. King, Jr.IME$74,685$30,650
    Mark KirkRIL$39,270$245,975
    Amy KlobucharDMN$116,563$154,789
    Mary L. LandrieuDLA$310,856$104,000
    Patrick J. LeahyDVT$123,450$2,250
    Mike LeeRUT$3,400$42,650
    Carl LevinDMI$8,310$0
    Joe Manchin, IIIDWV$185,015$141,050
    John McCainRAZ$3,550$81,550
    Claire McCaskillDMO$263,197$110,525
    Addison "Mitch" McConnellRKY$63,450$573,509
    Bob MenéndezDNJ$118,150$106,358
    Jeff MerkleyDOR$561,559$30,066
    Barbara A. MikulskiDMD$70,500$12,250
    Jerry MoranRKS$47,699$129,040
    Lisa MurkowskiRAK$19,650$36,520
    Chris MurphyDCT$653,764$132,850
    Patty MurrayDWA$338,085$35,674
    Clarence "Bill" NelsonDFL$219,026$110,750
    Rand PaulRKY$13,000$58,051
    Rob PortmanROH$40,440$545,774
    Mark L. PryorDAR$168,637$64,400
    John "Jack" ReedDRI$84,234$90,100
    Harry ReidDNV$431,904$120,700
    Jim RischRID$19,550$62,750
    Charles "Pat" RobertsRKS$55,864$144,450
    John "Jay" RockefellerDWV$17,525$2,000
    Marco RubioRFL$57,693$125,870
    Bernie SandersIVT$403,695$700
    Brian SchatzDHI$241,777$72,148
    Chuck SchumerDNY$247,400$355,450
    Tim ScottRSC$12,650$150,325
    Jeff SessionsRAL$12,000$37,800
    Jeanne ShaheenDNH$543,317$87,000
    Richard C. ShelbyRAL$17,700$241,650
    Debbie StabenowDMI$240,419$175,862
    Jon TesterDMT$518,252$358,319
    John ThuneRSD$27,150$168,230
    Patrick J. ToomeyRPA$40,282$257,966
    Mark UdallDCO$1,256,104$55,225
    Tom UdallDNM$422,777$33,370
    David VitterRLA$47,800$79,250
    Mark R. WarnerDVA$472,505$378,250
    Elizabeth WarrenDMA$1,707,205$75,000
    Sheldon WhitehouseDRI$174,940$23,900
    Roger F. WickerRMS$4,250$81,920
    Ron WydenDOR$85,650$55,350

    Add Data Filters:

    Legislator Filters
    Legislator Filters
    Show All
    NamePartyState$ From Interest Groups
    That Supported
    $ From Interest Groups
    That Opposed
    Andrew Lamar AlexanderRTN$38,478$120,150
    Kelly AyotteRNH$12,500$76,916
    Tammy BaldwinDWI$876,817$26,300
    John BarrassoRWY$10,000$81,999
    Max BaucusDMT$42,300$102,300
    Mark BegichDAK$569,958$83,575
    Michael F. BennetDCO$446,764$190,772
    Richard BlumenthalDCT$158,356$51,790
    Roy BluntRMO$33,198$253,883
    John BoozmanRAR$11,300$79,600
    Barbara BoxerDCA$825,098$32,300
    Sherrod BrownDOH$644,228$144,130
    Richard BurrRNC$35,092$188,307
    Maria CantwellDWA$151,578$21,200
    Ben CardinDMD$139,275$32,750
    Tom CarperDDE$50,520$199,260
    Bob CaseyDPA$196,854$105,230
    Clarence Saxby ChamblissRGA$53,200$104,750
    Jeff ChiesaRNJ$0$0
    Daniel CoatsRIN$13,650$100,900
    Tom CoburnROK$1,000$52,150
    William Thad CochranRMS$62,400$91,500
    Susan M. CollinsRME$54,850$73,250
    Christopher A. CoonsDDE$224,256$219,866
    Bob CorkerRTN$16,600$377,150
    John CornynRTX$17,150$334,445
    William M. CowanDMA$0$0
    Mike CrapoRID$10,300$150,350
    Ted CruzRTX$9,450$231,560
    Joe DonnellyDIN$270,472$121,850
    Dick DurbinDIL$219,620$42,400
    Mike EnziRWY$15,250$50,300
    Dianne FeinsteinDCA$86,934$78,650
    Deb FischerRNE$14,200$122,700
    Jeff FlakeRAZ$11,500$105,122
    Al FrankenDMN$878,528$59,550
    Kirsten E. GillibrandDNY$494,767$449,820
    Lindsey GrahamRSC$50,863$148,222
    Chuck GrassleyRIA$20,900$61,250
    Kay R. HaganDNC$1,337,236$310,850
    Tom HarkinDIA$56,153$8,000
    Orrin G. HatchRUT$36,850$168,800
    Martin HeinrichDNM$783,123$39,024
    Heidi HeitkampDND$151,326$65,450
    Dean HellerRNV$24,500$180,772
    Mazie K. HironoDHI$231,433$57,850
    John HoevenRND$10,800$83,400
    Jim InhofeROK$3,500$45,700
    Johnny IsaksonRGA$16,400$131,890
    Mike JohannsRNE$10,500$23,450
    Ron JohnsonRWI$7,000$117,991
    Tim JohnsonDSD$50,200$166,550
    Tim KaineDVA$646,479$87,500
    Angus S. King, Jr.IME$74,685$30,650
    Mark KirkRIL$39,270$245,975
    Amy KlobucharDMN$116,563$154,789
    Mary L. LandrieuDLA$310,856$104,000
    Patrick J. LeahyDVT$123,450$2,250
    Mike LeeRUT$3,400$42,650
    Carl LevinDMI$8,310$0
    Joe Manchin, IIIDWV$185,015$141,050
    John McCainRAZ$3,550$81,550
    Claire McCaskillDMO$263,197$110,525
    Addison "Mitch" McConnellRKY$63,450$573,509
    Bob MenéndezDNJ$118,150$106,358
    Jeff MerkleyDOR$561,559$30,066
    Barbara A. MikulskiDMD$70,500$12,250
    Jerry MoranRKS$47,699$129,040
    Lisa MurkowskiRAK$19,650$36,520
    Chris MurphyDCT$653,764$132,850
    Patty MurrayDWA$338,085$35,674
    Clarence "Bill" NelsonDFL$219,026$110,750
    Rand PaulRKY$13,000$58,051
    Rob PortmanROH$40,440$545,774
    Mark L. PryorDAR$168,637$64,400
    John "Jack" ReedDRI$84,234$90,100
    Harry ReidDNV$431,904$120,700
    Jim RischRID$19,550$62,750
    Charles "Pat" RobertsRKS$55,864$144,450
    John "Jay" RockefellerDWV$17,525$2,000
    Marco RubioRFL$57,693$125,870
    Bernie SandersIVT$403,695$700
    Brian SchatzDHI$241,777$72,148
    Chuck SchumerDNY$247,400$355,450
    Tim ScottRSC$12,650$150,325
    Jeff SessionsRAL$12,000$37,800
    Jeanne ShaheenDNH$543,317$87,000
    Richard C. ShelbyRAL$17,700$241,650
    Debbie StabenowDMI$240,419$175,862
    Jon TesterDMT$518,252$358,319
    John ThuneRSD$27,150$168,230
    Patrick J. ToomeyRPA$40,282$257,966
    Mark UdallDCO$1,256,104$55,225
    Tom UdallDNM$422,777$33,370
    David VitterRLA$47,800$79,250
    Mark R. WarnerDVA$472,505$378,250
    Elizabeth WarrenDMA$1,707,205$75,000
    Sheldon WhitehouseDRI$174,940$23,900
    Roger F. WickerRMS$4,250$81,920
    Ron WydenDOR$85,650$55,350

    Interest Groups that supported this bill

    $ Donated
    Democratic/Liberal$10,429,305
    Environmental policy$4,947,042
    Manufacturing unions$962,520
    State & local govt employee unions$577,070
    Commercial service unions$509,447
    Farm organizations & cooperatives$502,587
    Health & welfare policy$479,040
    Communications & hi-tech unions$420,350
    Churches, clergy & religious organizations$417,000
    Teamsters union$409,445
    Small business associations$330,377
    Elderly issues/Social Security$325,197
    Labor Unions$277,475
    Fuel oil dealers$45,700
    Human Rights$42,050
    Fiscal & tax policy$41,500
    Consumer groups$2,500
    Automotive unions$0

    Interest Groups that opposed this bill

    $ Donated
    Commercial banks & bank holding companies$10,637,097
    Financial services & consulting$1,598,643
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