Page:United States Statutes at Large Volume 113 Part 2.djvu/318

 113 STAT. 1338 PUBLIC LAW 106-102—NOV. 12, 1999 Public Law 106-102 106th Congress Nov. 12, 1999 [S. 900] Gramm-Leach- Bliley Act. Intergovernmental relations. 12 USC 1811 note. An Act To enhance competition in the financial services industry by providing a prudential framework for the affiliation of banks, securities firms, insurance companies, and other financial service providers, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE; TABLE OF CONTENTS. (a) SHORT TITLE.—T his Act may be cited as the "Gramm-Leach- BHley Act". (b) TABLE OF CONTENTS. —The table of contents for this Act is as follows: Sec. 1. Short title; table of contents. TITLE I—FACILITATING AFFILIATION AMONG BANKS, SECURITIES FIRMS, AND INSURANCE COMPANIES Subtitle A—Affiliations Sec. 101. Glass-Steagall Act repeals. Sec. 102. Activity restrictions applicable to bank holding companies that are not financial holding companies. Sec. 103. Financial activities. Sec. 104. Operation of State law. Sec. 105. MAitual bank holding companies authorized. Sec. 106. Prohibition on deposit production offices. Sec. 107. Cross marketing restriction; limited purpose bank relief; divestiture. Sec. 108. Use of subordinated debt to protect financial system and deposit funds from "too big to fail" institutions. Sec. 109. Study of financial modernization's effect on the accessibility of small business and farm loans. Subtitle B—Streamlining Supervision of Bank Holding Companies Sec. 111. Streamlining bank holding company supervision. Sec. 112. Authority of State insurance regulator and Securities and Exchange Commission. Sec. 113. Role of the Board of Governors of the Federal Reserve System. Sec. 114. Prudential safeguards. Sec. 115. Examination of investment companies. Sec. 116. Elimination of application requirement for financial holding companies. Sec. 117. Preserving the integrity of FDIC resources. Sec. 118. Repeal of savings bank provisions in the Bank Holding Company Act of 1956. Sec. 119. Technical amendment. Subtitle C—Subsidiaries of National Banks Sec. 121. Subsidiaries of national banks. Sec. 122. Consideration of merchant banking activities by financial subsidiaries. Subtitle D—Preservation of FTC Authority Sec. 131. Amendment to the Bank Holding Company Act of 1956 to modify notification and post-approval waiting period for section 3 transactions. Sec. 132. I nteragency data shari ng.

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