# 116-hr-7046: To amend the Bank Holding Company Act of 1956 to place certain limitations on commodity ownership and to repeal the merchant banking authority, and for other purposes.

116-hr-7046, To amend the Bank Holding Company Act of 1956 to place certain limitations on commodity ownership and to repeal the merchant banking authority, and for other purposes., is a 116th Congress bill sponsored by Rep. Casten, Sean [D-IL-6] (D-IL); status Referred to the House Committee on Financial Services. (as of 2025-11-18).

- Canonical: https://policyrisk.com/legislation/116-hr-7046
- As of: 2025-11-18
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 116-hr-7046
- Congress: 116
- Title: To amend the Bank Holding Company Act of 1956 to place certain limitations on commodity ownership and to repeal the merchant banking authority, and for other purposes.
- Status: Referred to the House Committee on Financial Services.
- Introduced: 2020-05-28
- Sponsor: Rep. Casten, Sean [D-IL-6] (D-IL)
- Cosponsors: 0
- Policy area: Finance and Financial Sector
- Touches household money: no
- Last recorded action: 2025-11-18

## Summary

This bill limits the types of investment activities banks are allowed to engage in, including certain merchant banking activities and commodities ownership. Additionally, the bill finalizes the Federal Reserve Board's proposed rule published September 30, 2016, regarding physical commodity trading activities conducted by financial holding companies.

## Related bills

- 116-hr-8797: Commission on American Civics Education Act of 2020
- 116-hr-8796: To direct the Secretary of the Treasury and the Attorney General to jointly conduct a study on the efforts of authoritarian regimes in foreign countries to exp…
- 116-hr-8782: Keeping All Students Safe Act
- 116-hr-8591: Daniel Anderl Judicial Security and Privacy Act of 2020
- 116-hr-8582: Tradeable Performance Standard Act
- 116-hr-8433: Preventing Future Pandemics Act of 2020

## Sources
- [116-hr-7046 on Congress.gov](https://www.congress.gov/bill/116th-congress/house-bill/7046)

## Related
- [116-hr-8797: Commission on American Civics Education Act of 2020](https://policyrisk.com/legislation/116-hr-8797)
- [116-hr-8796: To direct the Secretary of the Treasury and the Attorney General to jointly con…](https://policyrisk.com/legislation/116-hr-8796)
- [116-hr-8782: Keeping All Students Safe Act](https://policyrisk.com/legislation/116-hr-8782)
- [116-hr-8591: Daniel Anderl Judicial Security and Privacy Act of 2020](https://policyrisk.com/legislation/116-hr-8591)
- [116-hr-8582: Tradeable Performance Standard Act](https://policyrisk.com/legislation/116-hr-8582)
- [116-hr-8433: Preventing Future Pandemics Act of 2020](https://policyrisk.com/legislation/116-hr-8433)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/116-hr-7046 (as of 2025-11-18).