Regulate nonbank financial institutions to ensure they follow the same safety rules as traditional banks.
One policy goal, tracked across every bill that has carried it.
What’s happening with Close the Shadow Banking Loophole Act?
The bill S. 3734 remains in the Senate Committee on Banking, Housing, and Urban Affairs as of June 28, 2026. The committee members must decide to hold a vote to move the bill forward, but most bills fail because committees do not take action on them. This proposal has seen no recorded movement since January 28, 2026.
Updated July 9, 2026 · Generated by AI. Always verify with official sources.
Where it stands
Now carried by Close the Shadow Banking Loophole Act (S. 3734 (119th)) →
Legislative Progress
How we got here
Every bill that has carried this goal, oldest first.
Died with Congress · Jan 3, 2025
Died when the 118th Congress ended without final passage. Bills must be reintroduced under a new number to be revived.
Reintroduced · Jan 3, 2025
Reintroduced from S. 3538 (118th), which died when its Congress ended.
S. 3538 (118th) →
Vehicles
Who’s behind it
John Kennedy (R-LA)Wrote and sponsored the current bill.