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Merchant Banking Modernization Act
To amend the Bank Holding Company Act of 1956 to generally permit holding merchant banking investments of up to 15 years.
Summary
This bill amends the Bank Holding Company Act of 1956 to modify the time period that bank holding companies are permitted to hold merchant banking investments. The bill establishes a minimum holding period of 15 years for merchant banking investments going forward. For any merchant banking investments already held on the date of enactment, the bill allows a 15-year holding period measured from the initial date of the investment.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
- Sen. Rounds, Mike [R-SD] (R-SD)
14 cosponsors
- Sen. Banks, Jim [R-IN] (R-IN)
- Sen. Cassidy, Bill [R-LA] (R-LA)
- Sen. Cornyn, John [R-TX] (R-TX)
- Sen. Cramer, Kevin [R-ND] (R-ND)
- Sen. Cruz, Ted [R-TX] (R-TX)
- Sen. Daines, Steve [R-MT] (R-MT)
- Sen. Hagerty, Bill [R-TN] (R-TN)
- Sen. McCormick, David [R-PA] (R-PA)
- Sen. Moran, Jerry [R-KS] (R-KS)
- Sen. Mullin, Markwayne [R-OK] (R-OK)
- Sen. Scott, Rick [R-FL] (R-FL)
- Sen. Scott, Tim [R-SC] (R-SC)
- Sen. Sullivan, Dan [R-AK] (R-AK)
- Sen. Tillis, Thomas [R-NC] (R-NC)
Money behind the sponsor
Top reported contributors to Mike Rounds’s campaign committee (2024 cycle) — who funds the bill’s sponsor, not a claim about this bill. Data from FEC.
- APOLLO GLOBAL MANAGEMENT $30,350
- NULL $26,450
- APOLLO $19,250
- ROCKET MORTGAGE $15,700
- APOLLO MGMT. $13,200
Organizations whose employees gave the most — itemized individual contributions grouped by the donor’s reported employer (FEC Schedule A). Full finance for Mike Rounds → · Outside spending →
Actions (2)
- Aug 1, 2025 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. · senate
- Aug 1, 2025 Introduced in Senate
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Full text
IN THE SENATE OF THE UNITED STATES
August 1, 2025
Mr. Rounds (for himself, Mr. Scott of South Carolina, Mr. Cramer, Mr. Hagerty, Mr. Daines, Mr. Mullin, Mr. Scott of Florida, and Mr. Tillis) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs
A BILL
To amend the Bank Holding Company Act of 1956 to generally permit holding merchant banking investments of up to 15 years.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the “Merchant Banking Modernization Act”.
SEC. 2. MERCHANT BANKING ACTIVITIES.
Section 4(k)(7)(A) of the Bank Holding Company Act of 1956 (12 U.S.C. 1843(k)(7)(A)) is amended by inserting “Under such regulations, the period of time generally permitted for holding merchant banking investments shall not be less than 15 years. For any merchant banking investment held on the date of enactment of the Merchant Banking Modernization Act, the holding period of time permitted shall not be less than 15 years from the initial date of the investment.” after the period at the end. <all>
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