STAND. COM. REP. NO.  1383

Honolulu, Hawaii

                , 2013

RE:   H.C.R. No. 138

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Seventh State Legislature

Regular Session of 2013

State of Hawaii

Sir:

     Your Committee on Consumer Protection & Commerce, to which was referred H.C.R. No. 138 entitled:

"HOUSE CONCURRENT RESOLUTION REQUESTING THE UNITED STATES CONGRESS TO TAKE ACTION REGARDING THE SEPARATION OF COMMERCIAL AND INVESTMENT BANKING FUNCTIONS THROUGH THE REINSTATEMENT OF THE GLASS-STEAGALL ACT OF 1933 OR SIMILAR LEGISLATION,"

begs leave to report as follows:

The purpose of this measure is to protect the public interest in matters dealing with the regulation of commercial and investment banking by urging the United States Congress to restore various provisions of the Glass-Steagall Act of 1933 or enact similar legislation.

Two concerned individuals supported this measure.  The Department of Commerce and Consumer Affairs provided comments.

     As affirmed by the record of votes of the members of your Committee on Consumer Protection & Commerce that is attached to this report, your Committee concurs with the intent and purpose of H.C.R. No. 138 and recommends that it be referred to the Committee on Finance.

Respectfully submitted on behalf of the members of the Committee on Consumer Protection & Commerce,

____________________________

ANGUS L.K. McKELVEY, Chair