Urges President and Congress to enact legislation reinstating the separation between commercial and investment banking.

This New Jersey Senate Resolution (SR 90) urges the U.S. President and Congress to pass federal legislation reinstating the separation between commercial banking (taking deposits and making loans) and investment banking (trading securities and underwriting deals), as established by the Glass-Steagall Act of 1933. It cites the 1999 repeal of Glass-Steagall as contributing to financial crises, including the 2008 housing market collapse, and notes that the 2010 Dodd-Frank Act did not adequately restore this separation. The resolution specifically references the federal "Return to Prudent Banking Act of 2023" (H.R.2714) as a model for such legislation. As a non-binding resolution, it does not create law but formally advocates for federal action to strengthen financial system stability.