,,ii  #aaith ,,congress  #b;d ,session  
,s4 #echi  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,september #ad1
 #bjbf,ms4 ,warren 7for herself1 ,mr4   
,reed1 ,mr4 ,van ,hollen1 ,mr4 ,murphy1 
,mr4 ,sanders1 ,mr4 ,blumenthal1 ,mr4   
,kim1 ,ms4 ,alsobrooks1 ,mr4 ,gallego1  
,ms4 ,blunt ,rochester1 ,ms4 ,duckworth1
 ,ms4 ,hirono1 ,mr4 ,coons1 and ,mr4    
,kelly7 introduced the following bill2  
which was read twice and referred to the
 ,committee on ,banking1 ,housing1 and  
,urban ,affairs  ,a ,,bill  ,to prevent 
corruption in banking applications1 to  
prohibit ,presidents from owning or     
controlling banks1 and for other        
purposes4  #a4 ,short title ,this ,act  
may be cited as the ,ending             
,presidential ,corruption in ,banking   
,act4  #b4 ,definitions ,in this ,act3  
7#a7 ,bank ,the term bank means-- 7,a7 a
 depository institution1 as defined in  
section #c of the ,federal ,deposit     
,insurance ,act 7#ab ,u4,s4,c4 #ahac72  
and  7,b7 any company that has control  

over a depository institution4  7#b7    
,covered application ,the term covered  
application means an application for--  
7,a7 a national bank charter2  7,b7 a   
master account2  7,c7 ,federal deposit  
insurance2 or  7,d7 any other banking   
license under ,federal law4  7#c7       
,covered person ,the term covered person
 means-- 7,a7 the ,president2  7,b7 the 
,vice ,president2  7,c7 a ,member of    
,congress2  7,d7 an individual appointed
 to a position in a department or agency
 of the executive branch of the ,united 
,states for which appointment is        
required to be made by the ,president1  
by and with the advice and consent of   
the ,senate2  7,e7 a special ,government
 employee1 as defined in section #bjb of
 title #ah1 ,united ,states ,code1      
associated with the ,executive ,office  
of the ,president2 or  7,f7 a spouse or 
child of the ,president or ,vice        
,president4  #c4 ,preventing corruption 
in banking applications  7a7            
,prohibition on approving covered       

applications for covered persons ,the   
,federal ,reserve ,board1 ,federal      
,deposit ,insurance ,corporation1 and   
,office of the ,comptroller of the      
,currency may not approve a covered     
application if a covered person1        
directly or indirectly1 or acting       
through or in concert with #a or more   
persons-- 7#a7 owns1 controls1 or has   
the power to vote more than #aj percent 
of any class of voting securities of the
 bank2  7#b7 is an organizer or senior  
executive of the bank2 or  7#c7         
otherwise exercises a controlling       
influence over the bank4  7b7 ,review   
and termination ,not later than #fj days
 after the date of enactment of this    
,act1 the ,federal ,reserve ,board1     
,federal ,deposit ,insurance            
,corporation1 and ,office of the        
,comptroller of the ,currency shall     
terminate the charters1 licenses1 master
 accounts1 and deposit insurance of     
those banks that had a covered          
application approved after ,january #bj1

 #bjbe1 while a covered person1 directly
 or indirectly1 or acting through or in 
concert with #a or more persons-- 7#a7  
owned1 controlled1 or had the power to  
vote more than #aj percent of any class 
of voting securities of the bank2  7#b7 
was an organizer or senior executive of 
the bank2 or  7#c7 otherwise exercised a
 controlling influence over the bank4   
#d4 ,prohibiting ,presidential banks    
7a7 ,in general ,it shall be unlawful   
for the ,president or ,vice ,president1 
or a spouse or child of the ,president  
or ,vice ,president1 directly or        
indirectly1 or acting through or in     
concert with #a or more persons1 to--   
7#a7 own1 control1 or have the power to 
vote more than #aj percent of any class 
of voting securities of a bank2  7#b7   
serve as a senior executive of a bank2  
or  7#c7 otherwise exercise a           
controlling influence over a bank4  7b7 
,termination ,if the ,president1 ,vice  
,president1 or a spouse or child of the 
,president or ,vice ,president1 as      

applicable1 has not come into compliance
 with subsection 7a7 before the end of  
the #cj-;day period beginning on the    
date of inauguration of the ,president  
or ,vice ,president1 as applicable1 the 
,federal ,reserve ,board1 ,federal      
,deposit ,insurance ,corporation1 and   
,office of the ,comptroller of the      
,currency shall immediately terminate   
the charter1 license1 master account1 or
 deposit insurance of any bank described
 in subsection 7a74