Urges Congress to reinstate "Glass-Steagall Act."

This New Jersey Senate resolution (SR 74) urges the U.S. Congress to reinstate the Glass-Steagall Act, a 1933 law that separated commercial banking from investment banking. It argues that repealing Glass-Steagall in 1999 allowed banks to merge with investment firms, contributing to risky practices that triggered the 2008 financial crisis. The resolution states that the subsequent Dodd-Frank Act did not fully restore this separation and calls for reinstating Glass-Steagall to strengthen financial stability. As a non-binding resolution, it does not create new law but formally requests congressional action.