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House Bill 4604
116th Congress(2019-2020)
Small Financial Institution Certainty Act
Introduced
Introduced
Introduced in House on Oct 4, 2019
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Introduced in House 
Oct 4, 2019
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Introduced in House(Oct 4, 2019)
Oct 4, 2019
Not Scanned for Linkage
About Linkage
Multiple bills can contain the same text. This could be an identical bill in the opposite chamber or a smaller bill with a section embedded in a larger bill.
Bill Sponsor regularly scans bill texts to find sections that are contained in other bill texts. When a matching section is found, the bills containing that section can be viewed by clicking "View Bills" within the bill text section.
Bill Sponsor is currently only finding exact word-for-word section matches. In a future release, partial matches will be included.
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H. R. 4604 (Introduced-in-House)


116th CONGRESS
1st Session
H. R. 4604


To clarify the clearing exemption for small financial institutions under the Commodity Exchange Act.

IN THE HOUSE OF REPRESENTATIVES

October 4, 2019

Mr. Dunn (for himself and Mr. Cox of California) introduced the following bill; which was referred to the Committee on Agriculture

A BILL

To clarify the clearing exemption for small financial institutions under the Commodity Exchange Act.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “Small Financial Institution Certainty Act”.

SEC. 2. Certainty for small holding companies.

Section 2(h)(7)(C)(ii) of the Commodity Exchange Act (7 U.S.C. 2(h)(7)(C)(ii)) is amended to read as follows:

“(ii) SMALL FINANCIAL ENTITY EXCLUSION.—Such definition shall not include any—

“(I) insured depository institution with total assets of $10,000,000,000 or less;

“(II) farm credit system institution with total assets of $10,000,000,000 or less;

“(III) credit union with total assets of $10,000,000,000 or less;

“(IV) bank holding company (as defined in section 2 of the Bank Holding Company Act of 1956) that has aggregated assets, including the assets of its subsidiaries, of $10,000,000,000 or less; or

“(V) savings and loan holding company (as defined in section 10 of the Home Owners’ Loan Act of 1933) that has aggregated assets, including the assets of its subsidiaries, of $10,000,000,000 or less.”.