{"bill":{"id":"119-hr-5291","congress":119,"type":"HR","number":5291,"title":"Merchant Banking Modernization Act","originChamber":"House","introducedDate":"2025-09-10","sponsors":[{"bioguideId":"W000816","fullName":"Rep. Williams, Roger [R-TX-25]","party":"R","state":"TX","district":25}],"cosponsorsCount":1,"latestAction":{"actionDate":"2025-11-04","text":"Placed on the Union Calendar, Calendar No. 320."},"policyArea":"Finance and Financial Sector","subjects":["Bank accounts, deposits, capital","Banking and financial institutions regulation","Business investment and capital"],"actions":[{"date":"2025-11-04","text":"Placed on the Union Calendar, Calendar No. 320.","type":"Calendars","chamber":"House floor actions","hasVote":false},{"date":"2025-11-04","text":"Reported (Amended) by the Committee on Financial Services. H. Rept. 119-368.","type":"Committee","chamber":"House floor actions","hasVote":false},{"date":"2025-11-04","text":"Reported (Amended) by the Committee on Financial Services. H. Rept. 119-368.","type":"Committee","chamber":"Library of Congress","hasVote":false},{"date":"2025-09-16","text":"Ordered to be Reported (Amended) by the Yeas and Nays: 35 - 17.","type":"Committee","chamber":"House committee actions","hasVote":false},{"date":"2025-09-16","text":"Committee Consideration and Mark-up Session Held","type":"Committee","chamber":"House committee actions","hasVote":false},{"date":"2025-09-10","text":"Referred to the House Committee on Financial Services.","type":"IntroReferral","chamber":"House floor actions","hasVote":false},{"date":"2025-09-10","text":"Introduced in House","type":"IntroReferral","chamber":"Library of Congress","hasVote":false},{"date":"2025-09-10","text":"Introduced in House","type":"IntroReferral","chamber":"Library of Congress","hasVote":false}],"summary":"<p><strong>Merchant Banking Modernization Act</strong></p><p>This bill requires financial holding companies to be allowed to hold merchant banking investments&nbsp;for a minimum of 15 years.</p><p>Currently, financial holding companies are generally prohibited from holding interests in nonfinancial companies, however, there are statutory exemptions for merchant banking activities—financial services for private commercial entities. As a result of these financial services, the financial holding company may gain equity in these private commercial entities through portfolio holdings. Under current regulations, these holdings are subject to certain limitations, including a holding limit of 10 years, with the option of extending the period subject to review by the Federal Reserve Board.</p>","updateDate":"2026-02-04T05:06:15Z"},"markets":[],"stateBills":[],"meta":{"sources":["congress.gov"],"latencyMs":368,"ts":"2026-04-15T17:44:59.654Z"},"nextActions":{"inspect":[],"related":[{"description":"Search related legislation","method":"GET","url":"/api/public/query-gov?q=Merchant%20Banking%20Modernization%20Act"}]}}