1. Short title This Act may be cited as the Return to Prudent Banking Act of 2017 . 2. Glass-Steagall revived (a) Wall between commercial banks and securities activities reestablished Section 18 of the Federal Deposit Insurance Act ( 12 U.S.C. 1828 ) is amended by adding at the end the following new subsection: (aa) Limitations on security affiliations (1) Prohibition on affiliation between insured depository institutions and investment banks or securities firms An insured depository institution may not be or become an affiliate of any broker or dealer, any investment adviser, any investment company, or any other person engaged principally in the issue, flotation, underwriting, public sale, or distribution at wholesale or retail or through syndicate participation of stocks, bonds, debentures, notes, or other securities. (2) Prohibition on officers, directors, and employees of securities firms service on boards of depository institutions (A) In general An individual who is an officer, director, partner, or employee of any broker or dealer, any investment adviser, any investment company, or any other person engaged principally in the issue, flotation, underwriting, public sale, or distribution at wholesale or retail or through syndicate participation of stocks, bonds, debentures, notes, or other securities may not serve at the same time as an officer, director, employee, or other institution-affiliated party of any insured depository institution. (B) Exception Subparagraph (A) shall not apply with respect to service by any individual which is otherwise prohibited under such subparagraph if the appropriate Federal banking agency determines, by regulation with respect to a limited number of cases, that service by such individual as an officer, director, employee, or other institution-affiliated party of any insured depository institution would not unduly influence the investment policies of the depository institution or the advice the institution provides to customers. (C) Termination of service Subject to a