I 
111TH CONGRESS 
2D SESSION 
H. R. 4461 
To prohibit certain affiliations (between commercial banking and investment 
banking companies), and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
JANUARY 15, 2010 
Mr. DINGELL introduced the following bill; which was referred to the 
Committee on Financial Services 
A BILL 
To prohibit certain affiliations (between commercial banking 
and investment banking companies), and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Banking Integrity Act 
of 2010’’. 
SEC. 2. RESTORING LIMITATIONS ON FINANCIAL INSTITU-
TION AFFILIATIONS. 
(a) LIMITATION ON AFFILIATION.—The Banking Act 
of 1933 (12 U.S.C. 221a et seq.) is amended by inserting 
before section 21 the following: 
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‘‘SEC. 20. Beginning 1 year after the date of the en-
actment of the Banking Integrity Act of 2010, no member 
bank may be affiliated, in any manner described in section 
2(b), with any corporation, association, business trust, or 
other similar organization that is engaged principally in 
the issue, flotation, underwriting, public sale, or distribu-
tion at wholesale or retail or through syndicate participa-
tion stocks, bonds, debenture, notes, or other securities, 
except that nothing in this section shall apply to any such 
organization which shall have been placed in formal liq-
uidation and which shall transact no business, except such 
as may be incidental to the liquidation of its affairs.’’. 
(b) LIMITATION ON COMPENSATION.—The Banking 
Act of 1933 (12 U.S.C. 221 et seq.) is amended by insert-
ing after section 31 the following: 
‘‘SEC. 32. Beginning 1 year after the date of the en-
actment of the Banking Integrity Act of 2010, no officer, 
director, or employee of any corporation or unincorporated 
association, no partner or employee of any partnership, 
and no individual, primarily engaged in the issue, flota-
tion, underwriting, public sale, or distribution, at whole-
sale or retail, or through syndicate participation, of stocks, 
bonds, or other similar securities, shall serve simulta-
neously as an officer, director, or employee of any member 
bank, except in limited classes of cases in which the Board 
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of Governors of the Federal Reserve System may allow 
such service by general regulations when, in the judgment 
of the Board of Governors, it would not unduly influence 
the investment policies of such member bank or the advice 
given to customers by the member bank regarding invest-
ments.’’. 
SEC. 3. PROHIBITING DEPOSITORY INSTITUTIONS FROM 
ENGAGING IN INSURANCE-RELATED ACTIVI-
TIES. 
(a) IN GENERAL.—Beginning 1 year after the date 
of the enactment of this Act, and notwithstanding any 
other provision of law, in no case may a depository institu-
tion engage in the business of insurance or any insurance- 
related activity. 
(b) DEFINITION.—As used in this section, the term 
‘‘business of insurance’’ means the writing of insurance 
or the reinsuring of risks by an insurer, including all acts 
necessary to such writing or reinsuring and the activities 
relating to the writing of insurance or the reinsuring of 
risks conducted by persons who act as, or are, officers, 
directors, agents, or employees of insurers or who are 
other persons authorized to act on behalf of such persons. 
Æ 
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