U.S. Congress legislation · 119th Congress
SB5389: Ending Presidential Corruption in Banking Act
Status: In committee, September 14, 2026
A bill to prevent corruption in banking applications, to prohibit Presidents from owning or controlling banks, and for other purposes.
What the bill says
To prevent corruption in banking applications, to prohibit Presidents from owning or controlling banks, and for other purposes.
From the introduced text, September 14, 2026:
A BILL To prevent corruption in banking applications, to prohibit Presidents from owning or controlling banks, and for other purposes. SECTION 1. Short title This Act may be cited as the Ending Presidential Corruption in Banking Act . SECTION 2. Definitions In this and (B) any company that has control over a depository institution. (2) Covered application The term covered application means an application for-- (A) a national bank charter; (B) a master account; (C) Federal deposit insurance; or (D) any other banking license under Federal law. (3) Covered person The term covered person means-- (A) the President; (B) the Vice President; (C) a Member of Congress; (D) an individual appointed to a position in a department or agency of the executive branch of the United States for which appointment is required to be made by the President, by and with the advice and consent of the Senate; (E) a special Government employee, as defined in section 202 of title 18, United States Code, associated with the Executive Office of the President; or (F) a spouse or child of the President or Vice President. SECTION 3. Preventing corruption in banking applications (a) Prohibition on approving covered applications for covered persons The Federal Reserve Board, Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency may not approve a …
Sponsors
- Warren, Elizabeth (D) · primary sponsor
- Jack Reed (D, SD-RI)
- Van Hollen, Chris (D)
- Murphy, Christopher (D)
- Bernard Sanders (I, SD-VT)
- Blumenthal, Richard (D)
- Kim, Andy (D)
- Alsobrooks, Angela (D)
- Gallego, Ruben (D)
- Lisa Rochester (D, SD-DE)
- Duckworth, Tammy (D)
- Hirono, Mazie (D)
Latest actions
- : Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- : Introduced in Senate
Subjects: Finance and Financial Sector
Common questions
- What is SB5389?
- SB5389 is a bill in Congress (119th Congress): Ending Presidential Corruption in Banking Act.
- What does SB5389 do?
- In its own words: To prevent corruption in banking applications, to prohibit Presidents from owning or controlling banks, and for other purposes.
- What is the status of SB5389?
- In committee as of September 14, 2026. Latest action: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (September 14, 2026).
- Who sponsored SB5389?
- Warren, Elizabeth (D), with 11 co-sponsors.
- Where is the official record for SB5389?
- On the Congress website: https://www.congress.gov/bill/119th-congress/senate-bill/5389
Source: official Congress record. Tracked by Delilah, AI for legislation across all 50 states and Congress.