The nine-page amendment says a council of regulators should determine whether the size, scope, nature, scale, concentration, interconnectedness, or mix of activities “directly or indirectly” conducted by a company “poses a grave threat to the United States.” If such a threat is posed, the firm could face several different directives.
Regulators would be able to order the company to face tougher capital requirements, terminate certain business practices, limit certain business practices, and limit mergers. The company could also be forced to sell, divest, or transfer business units, assets, branches, or off-balance sheet activities.
The council of regulators must consult with the White House before ordering any directive, and companies will be able to appeal any order.