,,ii  #aai? ,,congress  #b;d ,session   
,s4 #echi  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,septemb] #ad1         
#bjbf,ms4 ,w>r5 7= h]self1 ,mr4 ,re$1   
,mr4 ,van ,holl51 ,mr4 ,murphy1 ,mr4    
,s&]s1 ,mr4 ,blum5?al1 ,mr4 ,kim1 ,ms4  
,alsobrooks1 ,mr4 ,gallego1 ,ms4 ,blunt 
,ro*e/]1 ,ms4 ,duckwor?1 ,ms4 ,hirono1  
,mr4 ,coons1 & ,mr4 ,kelly7 introduc$ ! 
foll[+ bill2 :i* 0 read twice & ref]r$  
to ! ,committee on ,bank+1 ,h\s+1 &     
,urban ,affairs  ,a ,,bill  ,to prev5t  
corruption 9 bank+ applications1 to     
prohibit ,presid5ts f own+ or controll+ 
banks1 & = o!r purposes4  #a4 ,%ort     
title ,?is ,act may be cit$ z ! ,end+   
,presid5tial ,corruption 9 ,bank+ ,act4 
#b4 ,def9itions ,9 ?is ,act3 7#a7 ,bank 
,! t]m bank means-- 7,a7 a depository   
in/itution1 z def9$ 9 section #c ( !    
,f$]al ,deposit ,insurance ,act 7#ab    
,u4,s4,c4 #ahac72 &  7,b7 any company t 
has control ov] a depository in/itution4
  7#b7 ,cov]$ application ,! t]m cov]$  
application means an application =--    

7,a7 a national bank *>t]2  7,b7 a ma/] 
acc\nt2  7,c7 ,f$]al deposit insurance2 
or  7,d7 any o!r bank+ lic5se "u ,f$]al 
law4  7#c7 ,cov]$ p]son ,! t]m cov]$    
p]son means-- 7,a7 ! ,presid5t2  7,b7 ! 
,vice ,presid5t2  7,c7 a ,memb] (       
,congress2  7,d7 an individual appo9t$  
to a position 9 a dep>tm5t or ag5cy ( ! 
executive bran* ( ! ,unit$ ,/ates = :i* 
appo9tm5t is requir$ to be made by !    
,presid5t1 by & ) ! advice & cons5t ( ! 
,s5ate2  7,e7 a special ,gov]nm5t       
employee1 z def9$ 9 section #bjb ( title
 #ah1 ,unit$ ,/ates ,code1 associat$ ) !
 ,executive ,(fice ( ! ,presid5t2 or    
7,f7 a sp\se or *ild ( ! ,presid5t or   
,vice ,presid5t4  #c4 ,prev5t+          
corruption 9 bank+ applications  7a7    
,prohibition on approv+ cov]$           
applications = cov]$ p]sons ,! ,f$]al   
,res]ve ,bo>d1 ,f$]al ,deposit          
,insurance ,corporation1 & ,(fice ( !   
,comptroll] ( ! ,curr5cy may n approve a
 cov]$ application if a cov]$ p]son1    
directly or indirectly1 or act+ ?r\gh or

 9 conc]t ) #a or m p]sons-- 7#a7 owns1 
controls1 or has ! p[] to vote m ?an #aj
 p]c5t ( any class ( vot+ securities ( !
 bank2  7#b7 is an organiz] or s5ior    
executive ( ! bank2 or  7#c7 o!rwise    
ex]cises a controll+ influ5ce ov] !     
bank4  7b7 ,review & t]m9ation ,n lat]  
?an #fj days aft] ! date ( enactm5t (   
?is ,act1 ! ,f$]al ,res]ve ,bo>d1 ,f$]al
 ,deposit ,insurance ,corporation1 &    
,(fice ( ! ,comptroll] ( ! ,curr5cy %all
 t]m9ate ! *>t]s1 lic5ses1 ma/] acc\nts1
 & deposit insurance ( ^? banks t _h a  
cov]$ application approv$ aft] ,janu>y  
#bj1 #bjbe1 :ile a cov]$ p]son1 directly
 or indirectly1 or act+ ?r\gh or 9      
conc]t ) #a or m p]sons-- 7#a7 own$1    
controll$1 or _h ! p[] to vote m ?an #aj
 p]c5t ( any class ( vot+ securities ( !
 bank2  7#b7 0 an organiz] or s5ior     
executive ( ! bank2 or  7#c7 o!rwise    
ex]cis$ a controll+ influ5ce ov] ! bank4
  #d4 ,prohibit+ ,presid5tial banks  7a7
 ,9 g5]al ,x %all be unlawful = !       
,presid5t or ,vice ,presid5t1 or a sp\se

 or *ild ( ! ,presid5t or ,vice         
,presid5t1 directly or indirectly1 or   
act+ ?r\gh or 9 conc]t ) #a or m p]sons1
 to-- 7#a7 own1 control1 or h ! p[] to  
vote m ?an #aj p]c5t ( any class ( vot+ 
securities ( a bank2  7#b7 s]ve z a     
s5ior executive ( a bank2 or  7#c7      
o!rwise ex]cise a controll+ influ5ce ov]
 a bank4  7b7 ,t]m9ation ,if !          
,presid5t1 ,vice ,presid5t1 or a sp\se  
or *ild ( ! ,presid5t or ,vice          
,presid5t1 z applicable1 has n come into
 compliance ) subsection 7a7 be=e ! end 
( ! #cj-;day p]iod beg9n+ on ! date (   
inauguration ( ! ,presid5t or ,vice     
,presid5t1 z applicable1 ! ,f$]al       
,res]ve ,bo>d1 ,f$]al ,deposit          
,insurance ,corporation1 & ,(fice ( !   
,comptroll] ( ! ,curr5cy %all imm$iately
 t]m9ate ! *>t]1 lic5se1 ma/] acc\nt1 or
 deposit insurance ( any bank describ$ 9
 subsection 7a74