Close the Shadow Banking Loophole Act
In committee: it can still change before the session ends.
- Stage
- In committee
- Started in
- Senate
- Sponsors
- 2
- Latest action
- Jan 29, 2026
What it does
The Close the Shadow Banking Loophole Act would amend the Bank Holding Company Act of 1956 to restrict deposit insurance eligibility for industrial banks by requiring FDIC approval only for applications submitted on or before September 23, 2021, with a 90-day public comment period, public hearing, and a two-thirds FDIC Board vote for approval, and deeming any such application denied if not approved by September 30, 2026. It grants the FDIC and primary financial regulators enhanced authority to supervise parent companies of industrial banks, including conducting examinations, imposing restrictions on transactions, and disapproving changes in control unless specific exceptions apply, such as…
No official summary is available here. This one was written by AI from the bill’s text.
Where it stands
Introduced (Done)
Committee (Current step)
Floor (Not started)
Law (Not started)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
Where it goes next
While a bill can still move, the questions are about people and money.