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© 2026 Govwatch

S2663Referred to Committee

Merchant Banking Modernization Act

Share:
Introduced
In Committee
3
Passed One Chamber
4
Passed Both
5
Signed into Law
119th
Congress
2025-08-01
Introduced
13
Cosponsors
S
ⓘ
Type

Sponsor

Mike Rounds
Mike Rounds
Republican · SD · Senator
Votes with party: 35.7% (322 recorded votes)

Full profile: /officials/R000605

Source: Congress.gov · FEC

Cosponsors (13)

Members who have signed on to support this bill since introduction. Source: Congress.gov.

  • Bill Hagerty (R-TN)Original· 2025-08-01
  • Kevin Cramer (R-ND)Original· 2025-08-01
  • Rick Scott (R-FL)Original· 2025-08-01
  • Steve Daines (R-MT)Original· 2025-08-01
  • Thom Tillis (R-NC)Original· 2025-08-01
  • Tim Scott (R-SC)Original· 2025-08-01
  • John Cornyn (R-TX)· 2025-09-02
  • Ted Cruz (R-TX)· 2025-09-02
  • Jim Banks (R-IN)· 2025-09-18
  • Bill Cassidy (R-LA)· 2025-10-14
  • Dan Sullivan (R-AK)· 2025-10-29
  • Jerry Moran (R-KS)· 2026-04-30

Latest Action

The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

2025-08-01

Source: Congress.gov

Committee Activity

Previously

  • Banking, Housing, and Urban Affairs CommitteeReferred To · 2025-08-01
  • Senate Committee on Banking, Housing, and Urban AffairsReferred To · 2025-08-01

Plain-English Summary

The proposal would update rules for how banks can invest in and own non-financial businesses, allowing them greater flexibility in these activities while potentially requiring stronger oversight to manage risks. Banks and their investors would benefit from expanded opportunities to grow their businesses beyond traditional banking services, though regulators would need to ensure these investments don't threaten the stability of the financial system or harm consumers.

AI-assisted summary generated from the official bill metadata (title, subjects, actions) sourced from Congress.gov. Cached and reviewed. Always verify against the official text linked below.

Subjects

Finance and Financial Sector
Full bill text is not yet cached locally.
Open text viewRead on Congress.gov

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Bills by the same sponsor or covering overlapping subjects.

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