Urges Congress to reinstate "Glass-Steagall Act."

This New Jersey Assembly Resolution (AR 161) urges the U.S. Congress to reinstate the Glass-Steagall Act, which separated commercial banking from investment banking after the 1930s financial crisis. It argues that repealing Glass-Steagall in 1999 allowed banks to merge with investment firms, contributing to the 2008 financial crisis and housing market collapse. The resolution, non-binding and symbolic, recommends Congress pass legislation to recreate this separation, noting the 2010 Dodd-Frank Act did not fully address this issue. It directs the resolution to be sent to all U.S. congressional members from New Jersey.