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Key Votes

HR 10 - Financial Modernization bill - Key Vote

National Key Votes

Mary Bono Mack voted Yea (Passage) on this Legislation.

Read statements Mary Bono Mack made in this general time period.

Stages

Family

Issues

Stage Details

Legislation - Placed on Calendar (Senate) -
Legislation - Bill Passed (House) (343-86) - (Key vote)

Title: Financial Modernization bill

Vote Smart's Synopsis:

Vote to pass a bill that allows for mergers between banks, insurance companies, securities firms and other financial services.

Highlights:
  • Allows merging companies to form as a financial holding company or an operating subsidiary.
  • Prohibits a wholesale financial institution, an uninsured bank, from receiving deposits of less than $100,000.
  • Requires banks to disclose any fees for use of their automated teller machines (ATMs).
  • Prohibits states from enacting laws and regulations that impede a company's ability to sell insurance.
  • Prohibits insurance companies from discriminating against domestic violence victims.
  • Prohibits financial companies from releasing a customer's financial information to third parties without the customer's approval.
  • Stipulates that the Federal Reserve must hold hearings in certain cities affected by the merging of banks that possess over $1 billion in assets.
Legislation - Introduced (House) -

Title: Financial Modernization bill

Sponsors

  • James A. 'Jim' Leach (IA - R) (Out Of Office)

Co-sponsors

  • Richard Hugh Baker (LA - R) (Out Of Office)
  • Michael N. 'Mike' Castle (DE - R) (Out Of Office)
  • Merrill A. Cook (UT - R) (Out Of Office)
  • Sue W. Kelly (NY - R) (Out Of Office)
  • Steven C. 'Steve' LaTourette (OH - R) (Out Of Office)
  • Rick A. Lazio (NY - ) (Out Of Office)
  • James H. 'Jim' Maloney (CT - D) (Out Of Office)
  • Bill McCollum (FL - R) (Out Of Office)
  • Robert William 'Bob' Ney (OH - R) (Out Of Office)
  • Marge S. Roukema (NJ - R) (Out Of Office)
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