Close the Shadow Banking Loophole Act
Sponsor
Full profile: /officials/K000393
Source: Congress.gov · FEC
Cosponsors (1)
Members who have signed on to support this bill since introduction. Source: Congress.gov.
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.
2026-01-29
Source: Congress.gov
Plain-English Summary
This bill would require non-bank financial companies like private equity firms and hedge funds to follow similar lending and borrowing rules as traditional banks, closing what supporters call a "shadow banking" loophole that allows these firms to operate with less government oversight. The measure would affect investment firms, lenders, and potentially borrowers who use these alternative financial services by bringing them under stricter federal regulation and transparency requirements. The goal is to reduce financial risks that could harm the broader economy if these large, loosely-regulated firms face problems.
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
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