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

This New Jersey Senate resolution (SR 68) urges the U.S. President and Congress to pass legislation reinstating the Glass-Steagall Act's separation between commercial banking (taking deposits and making loans) and investment banking (trading securities). It cites the 1999 repeal of Glass-Steagall as contributing to risky financial practices that helped cause the 2008 housing market collapse and recession, noting that the 2010 Dodd-Frank Act did not fully restore this separation. The resolution references pending federal legislation (H.R.2714) that would mimic Glass-Steagall's restrictions. As a non-binding resolution, it does not create law but formally expresses the New Jersey Senate's position on this policy issue.