WA People
JOINT MEMORIAL · 2025–26 SESSION

SJM 8005: Banking/Glass-Steagall act

Requesting that Congress enact legislation that would reinstate the separation of commercial and investment banking functions that were in effect under the Glass-Steagall act.

Summary

  • Requests the U.S. Congress to enact legislation to reinstate the separation of commercial and investment banking functions that were in effect under the Glass-Steagall Act.

From the Senate Bill Report (SJM 8005), written by the Legislature's nonpartisan staff. Read the full report ↗

Did not pass Did not pass · passed Senate, stalled in House
  1. IntroducedJan 13, 2025
  2. Out of committeeJan 24, 2025
  3. Passed SenateFeb 5, 2025
  4. Passed Housestopped here
  5. Filed
Prime sponsor
Bob Hasegawa (D-11)
Introduced
January 13, 2025 in the Senate
Last action
February 26, 2026
Companion bill
HJM 4006

Sponsors

Prime sponsor: Bob Hasegawa (D-11)

3 co-sponsors (3 Democrats, 0 Republicans)

Derek Stanford D-1Yasmin Trudeau D-27Lisa Wellman D-41

Votes

Senate · 3rd Reading & Final Passage

Passed February 5, 2025
Version voted on: SJM 8005
44 Yea 5 Nay 0 Absent 0 Excused
PartyYeaNayAbsentExcused
Democrat30000
Republican14500
How each member voted
Permalink to this vote

History

  1. Senate Rules "X" file.
  2. By resolution, reintroduced and retained in present status.
  3. By resolution, returned to Senate Rules Committee for third reading.
  4. Referred to Rules 2 Review.
  5. CPB - Executive action taken by committee.
  6. Minority; without recommendation.
  7. Minority; do not pass.
  8. CPB - Majority; do pass.
  9. First reading, referred to Consumer Protection & Business.
  10. Third reading, passed; yeas, 44; nays, 5; absent, 0; excused, 0.
  11. Rules suspended. Placed on Third Reading.
  12. Placed on second reading by Rules Committee.
  13. Passed to Rules Committee for second reading.
  14. Minority; without recommendation.
  15. BFT - Majority; do pass.
  16. First reading, referred to Business, Financial Services & Trade.
  17. Prefiled for introduction.

SJM 8005 in other sessions

Bill numbers restart every two years, so the same number is a different bill in each session.

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