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• Introduced by Rep. James E. Bruce (D) on February 21, 2006, to prohibit a person from directly or indirectly acquiring control of an industrial loan corporation unless the person is engaged in certain activities permitted for financial holding companies.
  • Referred to the House Banking and Insurance Committee on February 22, 2006.
  • Reported in the House on March 2, 2006, favorably, 1st reading, to Calendar.
• Passed in the House (91 to 0) on March 3, 2006. [Vote Details and Comments]
• Received in the Senate on March 6, 2006.
  • Referred to the Senate Banking and Insurance Committee on March 8, 2006.
  • Reported in the Senate on March 10, 2006, favorably, 1st reading, to Calendar.