Key Votes
HR 10 - Financial Services Act of 1998 - Key Vote
National Key Votes
Hal Rogers voted Nay (Passage) on this legislation.
Read recent statements Hal Rogers made in this general time period.
Stages
Family
- HR 10 - Financial Services Act of 1998
- H Amdt 621 - Enhance Banking Flexibility Amendment
- SB 3042 - Funding for Community and Junior Colleges
Issues
Stage Details
Legislation - Bill Passed (House) (214-213) - May 13, 1998 (Key vote)
Title: Financial Services Act of 1998
Vote to pass a bill that allows partnerships in services between banks, securities firms, and other financial providers to increase competition within the sector.
- Repeals past restrictions that prohibit cross-ownership of banks, brokerages and insurance companies.
- Prevents banks from engaging in investment activities.
- Allows nationally chartered banks to continue to sell insurance and states to retain jurisdiction over those sales.
- Gives community banks access to low-cost funds through the Home Loan Bank System.
- Phases out the unitary thrift charters, institutions originally created to offer home loans and has allowed commercial companies to open savings banks.
Legislation - Introduced (House) - Jan. 7, 1997
Title: Financial Services Act of 1998
Sponsors
- James A. 'Jim' Leach (IA - R) (Out Of Office)
Co-sponsors
- Michael N. 'Mike' Castle (DE - R) (Out Of Office)
- Rick A. Lazio (NY - ) (Out Of Office)
- Marge S. Roukema (NJ - R) (Out Of Office)