Key Votes
S 900 - Financial Services Modernization Bill - Key Vote
National Key Votes
Rick Santorum voted Yea (Passage) on this legislation.
Read recent statements Rick Santorum made in this general time period.
Stages
- Nov. 12, 1999 Became Law Without Governor's Signature
- Nov. 4, 1999 House Conference Report Adopted
- Nov. 4, 1999 Senate Conference Report Adopted
- July 20, 1999 House Bill Passed
- May 6, 1999 Senate Bill Passed
- April 28, 1999 Introduced
Family
- S 900 - Financial Services Modernization Bill
- H 298 - Response to the Patient Protection and Affordable Care Act
Issues
Stage Details
Legislation - Became Law Without Governor's Signature (Executive) - Became Public Law No. 106-102 - Nov. 12, 1999
Legislation - Conference Report Adopted (House) (362-57) - Nov. 4, 1999
Legislation - Conference Report Adopted (Senate) (90-8) - Nov. 4, 1999
Legislation - Bill Passed (House) - July 20, 1999
NOTE: THIS IS A SUBSTITUTE BILL, MEANING THE LANGUAGE OF THE ORIGINAL BILL HAS BEEN REPLACED. THE DEGREE TO WHICH THE SUBSTITUTE BILL TEXT DIFFERS FROM THE PREVIOUS VERSION OF THE TEXT CAN VARY GREATLY.
NOTE: THIS VOTE PASSED BY UNANIMOUS CONSENT, MEANING NO MEMBER OBJECTED TO THE PASSAGE OF THE VOTE. THIS DOES NOT NECESSARILY INDICATE THAT ALL MEMBERS FAVORED THE VOTE'S OUTCOME.
Legislation - Bill Passed (Senate) (54-44) - May 6, 1999 (Key vote)
Title: Financial Services Modernization Bill
Vote to pass a bill that alters the set of rules and regulations that govern relationships between banks, securities firms and insurance companies.
- Removes restrictions placed on associations between banking, securities and insurance industries by the 1933 Glass-Steagall Act.
- Allows banks to sell insurance and operate in financial services, while also allowing insurance companies to purchase banks.
- Grants the Treasury Department oversight responsibility of banks' financial services, excluding real estate activities and insurance underwriting.
- Requires public disclosure of all financial agreements made under the 1977 Community Reinvestment (CRA) Act and all fees banks charge for use of automatic teller machines (ATMs).
- Exempts rural banks with less than $100 million in assets from the Community Reinvestment Act (CRA).
Legislation - Introduced (Senate) - April 28, 1999
Title: Financial Services Modernization Bill
Sponsors
- William Phillip 'Phil' Gramm (TX - ) (Out Of Office)
