S. 3538 · 118th Congress

Close the Shadow Banking Loophole Act

Introduced on Dec 14, 2023 by Sherrod Brown (D-OH). 5 cosponsors, 3 of them from another party. Latest action (Dec 14, 2023): Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Stage
Introduced
Introduced
Dec 14, 2023
Cosponsors
5
3 from the other party
Policy area
Finance and Financial Sector
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Progress

The furthest stage the measure reached. Simple and concurrent resolutions do not go to the President.

  1. Introduced
  2. 2Reported by committee
  3. 3Passed one chamber
  4. 4Passed both chambers
  5. 5Sent to the President
  6. 6Became law

Official title

A bill to address applications for deposit insurance submitted by industrial banks to the Federal Deposit Insurance Corporation, and for other purposes.

Summary

The Congressional Research Service has not summarized this measure yet.

Sponsor and cosponsors

Cosponsors by party as of the day they signed on. Original cosponsors signed on the day of introduction.

Sherrod BrownD-OHSponsor

Democrats · 2

Republicans · 3

Roll calls

Recorded votes on the measure. Most measures move by voice vote or unanimous consent, which record no individual positions.

No recorded roll call on this measure: it moved by voice vote or unanimous consent, or has not reached the floor.

History

Every action as published, oldest first. Roll calls link to how each member voted.

  1. Dec 14, 2023Introduced in Senate
  2. Dec 14, 2023 · SenateRead twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Committees

Committees and subcommittees the measure was referred to.

Agencies in its committees' jurisdiction

Analisa's mapping of committee jurisdiction to federal agencies; the bill may touch others, or none of these.

Who lobbied on it

Organizations whose lobbying reports (LD-2) name this measure. Spending is what they reported for those quarters on all issues, not on this measure alone.

  1. BANK POLICY INSTITUTE11 reports
    $7.8M reported (all issues)
  2. National Association of Industrial Bankers7 reports
    $184K reported (all issues)
  3. WEX Inc.6 reports
    $300K reported (all issues)Federal contractor: WEX INC.$5.2M in contracts, FY2026AI match · 100%
  4. AMERICAN FINANCIAL SERVICES ASSOCIATION5 reports
    $1.4M reported (all issues)
  5. CREDIT UNION NATIONAL ASSOCIATION, INC.5 reports
    $7.2M reported (all issues)
  6. ELECTRONIC TRANSACTIONS ASSOCIATION5 reports
    $2.1M reported (all issues)
  7. INDEPENDENT COMMUNITY BANKERS OF AMERICA5 reports
    $4M reported (all issues)
  8. Bank Policy Institute (FKA The Financial Services Roundtable)4 reports
    $200K reported (all issues)
  9. Harley-Davidson Financial Services, Inc.4 reports
    $80K reported (all issues)
  10. SLM CORPORATION4 reports
    $1.4M reported (all issues)
  11. CENTER FOR RESPONSIBLE LENDING, A SUPPORTING CORP OF CTR FOR COMMUNITY SELF-HELP2 reports
    $240K reported (all issues)
  12. Community Bankers Association of Illinois1 report
    $60K reported (all issues)
  13. National Association of Federally-Insured Credit Unions1 report
    $960K reported (all issues)

Reports filed in 2023, 2024, 2025, 2026.

Sources and method

Every figure on this page traces to these records.

  • Bill status: bills and resolutions, sponsors, actions, subjects and CRS summaries (U.S. Government Publishing Office (GovInfo), from Congress.gov (Library of Congress))GovInfo Bill Status bulk data (Congress.gov; summaries by the Congressional Research Service) · data current to Oct 3, 2026 · loaded Oct 3, 2026 · license: Public domain (U.S. Government work, 17 U.S.C. § 105)
  • Members of Congress, their terms, committees and identifiers (The @unitedstates project (from the Biographical Directory of the U.S. Congress, the House and the Senate))unitedstates/congress-legislators: legislators, committees and current committee membership · data current to Oct 3, 2026 · loaded Oct 3, 2026 · license: CC0 1.0 (public domain dedication)
  • House roll-call votes (Office of the Clerk, U.S. House of Representatives)Office of the Clerk, U.S. House of Representatives, roll-call vote records · data current to Oct 3, 2026 · loaded Oct 3, 2026 · license: Public domain (U.S. Government work, 17 U.S.C. § 105)
  • Senate roll-call votes and DW-NOMINATE scores (Voteview (UCLA Department of Political Science))Lewis, Jeffrey B., Keith Poole, Howard Rosenthal, Adam Boche, Aaron Rudkin, and Luke Sonnet (2026). Voteview: Congressional Roll-Call Votes Database. https://voteview.com/ · data current to Oct 3, 2026 · loaded Oct 3, 2026 · license: Free to use with the required citation
  • Lobbying disclosures (LD-1 registrations, LD-2 quarterly reports, LD-203 contribution reports) (Clerk of the U.S. House of Representatives)Clerk of the House, Lobbying Disclosure Act filings (organizations only; lobbyists' names are not loaded) · data current to Oct 6, 2026 · loaded Oct 6, 2026 · license: Public domain (U.S. Government work, 17 U.S.C. § 105)
  • Positions are shown only where a roll call recorded them; voice votes and unanimous consent record none.
  • Money and votes are shown side by side; neither explains the other.