3.0.0 5018 2023-01-11T13:26:01Z 2023-01-11T13:26:01Z House H HR 2014-07-07 113 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. HUIZENGA of Michigan:H.R. 5018.Congress has the power to enact this legislation pursuantto the following:Article 1, Section 8, Clause 3 (To regulate commerce withforeign nations, and among the several states, and with theIndian tribes); Article I, Section 8, Clause 5 (To coinmoney, regulate the value thereof; and of foreign coin, andfix the standard of weights and measures); Article I, Section8, Clause 6 (To provide for the punishment of counterfeitingthe securities and current coin of the United States); andArticle I, Section 8, Clause 18 (To make all laws which shallbe necessary and proper for carrying into execution theforegoing powers, and all other powers vested by thisConstitution in the government of the United States, or inany department thereof).[Page H5830]]]> hsba00 Financial Services Committee House Standing Markup by 2014-07-30T19:08:50Z Hearings by 2014-07-10T13:19:45Z Referred to 2014-07-07T17:00:46Z hsgo00 Oversight and Accountability Committee House Standing Referred to 2014-07-07T17:00:51Z SEC Regulatory Accountability Act 113 1062 HR 2013-05-20 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Related bill CRS Federal Reserve Accountability and Transparency Act of 2014 113 3928 HR 2014-01-27 Referred to the House Committee on Financial Services. Related bill CRS 2014-07-30 hsba00 Financial Services Committee 1 House committee actions Ordered to be Reported (Amended) by the Yeas and Nays: 32 - 26. Committee 2014-07-30 hsba00 Financial Services Committee 1 House committee actions Committee Consideration and Mark-up Session Held. Committee 2014-07-10 hsba00 Financial Services Committee 1 House committee actions Committee Hearings Held. Committee 2014-07-07 Referred to the Committee on Financial Services, and in addition to the Committee on Oversight and Government Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsgo00 Oversight and Accountability Committee 2014-07-07 Referred to the Committee on Financial Services, and in addition to the Committee on Oversight and Government Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2014-07-07 Introduced in House IntroReferral Intro-H 9 Library of Congress 2014-07-07 Introduced in House IntroReferral 1000 9 Library of Congress H001058 Rep. Huizenga, Bill [R-MI-2] Bill Huizenga R MI 2 N G000548 Rep. Garrett, Scott [R-NJ-5] Scott Garrett R NJ 5 2014-07-07 True B001256 Rep. Bachmann, Michele [R-MN-6] Michele Bachmann R MN 6 2014-07-14 False B001250 Rep. Bishop, Rob [R-UT-1] Rob Bishop R UT 1 2014-07-14 False P000588 Rep. Pearce, Stevan [R-NM-2] Stevan Pearce R NM 2 2014-07-14 False S001188 Rep. Stutzman, Marlin A. [R-IN-3] Marlin Stutzman R IN A. 3 2014-07-14 False W000816 Rep. Williams, Roger [R-TX-25] Roger Williams R TX 25 2014-07-14 False S001186 Rep. Southerland, Steve II [R-FL-2] Steve Southerland R FL 2 2014-07-14 False F000448 Rep. Franks, Trent [R-AZ-8] Trent Franks R AZ 8 2014-07-14 False K000362 Rep. King, Steve [R-IA-4] Steve King R IA 4 2014-07-14 False F000458 Rep. Fincher, Stephen Lee [R-TN-8] Stephen Fincher R TN Lee 8 2014-07-14 False B001282 Rep. Barr, Andy [R-KY-6] Andy Barr R KY 6 2014-07-14 False M001189 Rep. Messer, Luke [R-IN-6] Luke Messer R IN 6 2014-07-14 False M001182 Rep. Mulvaney, Mick [R-SC-5] Mick Mulvaney R SC 5 2014-07-14 False D000614 Rep. Duffy, Sean P. [R-WI-7] Sean Duffy R WI P. 7 2014-07-14 False H001059 Rep. Hultgren, Randy [R-IL-14] Randy Hultgren R IL 14 2014-07-14 False G000567 Rep. Griffin, Tim [R-AR-2] Tim Griffin R AR 2 2014-07-17 False H001057 Rep. Huelskamp, Tim [R-KS-1] Tim Huelskamp R KS 1 2014-07-17 False F000456 Rep. Fleming, John [R-LA-4] John Fleming R LA 4 2014-07-17 False P000599 Rep. Posey, Bill [R-FL-8] Bill Posey R FL 8 2014-07-17 False G000552 Rep. Gohmert, Louie [R-TX-1] Louie Gohmert R TX 1 2014-07-17 False B001262 Rep. Broun, Paul C. [R-GA-10] Paul Broun R GA C. 10 2014-07-17 False R000582 Rep. Roe, David P. [R-TN-1] David Roe R TN P. 1 2014-07-17 False J000296 Rep. Jolly, David [R-FL-13] David Jolly R FL 13 2014-07-17 False L000571 Rep. Lummis, Cynthia M. [R-WY-At Large] Cynthia Lummis R WY M. 0 2014-07-17 False C000266 Rep. Chabot, Steve [R-OH-1] STEVE CHABOT R OH 1 2014-07-17 False L000573 Rep. Labrador, Raul R. [R-ID-1] Raul Labrador R ID R. 1 2014-07-28 False Finance and Financial Sector Administrative law and regulatory procedures Banking and financial institutions regulation Congressional oversight Economic performance and conditions Federal Reserve System Federal officials Financial services and investments Foreign and international banking Government employee pay, benefits, personnel management Government ethics and transparency, public corruption Government information and archives Government studies and investigations Inflation and prices Interest, dividends, interest rates International monetary system and foreign exchange International organizations and cooperation Monetary policy Finance and Financial Sector 00 2014-07-07 Introduced in House 2014-10-01T19:56:31Z Federal Reserve Accountability and Transparency Act of 2014 - Amends the Federal Reserve Act (FRA) to direct the Chairman of the Federal Open Market Committee (FOMC) to submit to the Comptroller General (GAO) and to certain congressional committees a Directive Policy Rule (DPR), including an identification of FOMC members who voted in its favor.

Defines DPR as a policy rule developed by the FOMC that meets specified requirements and provides the basis for the Open Market Operations Directive.

Directs GAO to study whether the DPR has materially changed, audit any materially changed DPR, and report to certain congressional committees on whether the ensuing DPR and the FOMC are in compliance with this Act.

Requires the Chairman of the Board of Governors of the Federal Reserve System (Federal Reserve Board) to testify before certain congressional committees as to why non-compliance with this Act, if any, exists.

Establishes a one-week blackout period during which permissible public communications by FOMC members and staff are restricted with respect to: (1) macroeconomic or financial developments; or (2) current, or prospective monetary policy issues.

Amends the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) to direct the Federal Reserve Board to issue regulations, after public notice and comment, that provide for the at least three different sets of conditions (baseline, adverse, and severely adverse) and related methodologies required under current law for the evaluation of nonbank financial companies and certain bank holding companies with over $50 billion in assets.

Directs the Federal Reserve Board to disclose publicly the aggregate number of supervisory letters sent to such bank holding companies, including the aggregate number of such letters designated as either "Matters Requiring Attention" or "Matters Requiring Immediate Attention."

Increases from semi-annual to quarterly the number of times the Chairman of the Federal Reserve Board is required to give testimony to Congress.

Amends the FRA to require the Vice Chairman for Supervision to give written testimony on the status of all pending and anticipated rulemakings made by the Board.

Requires the Federal Reserve Board, before issuing any regulation, to assess the costs and benefits of available regulatory alternatives and choose the approach that maximizes net benefits and is tailored to impose the least impact on the availability of credit, economic growth, and the least burden on society.

Prescribes the contents of a post-adoption impact assessment plan the Board must develop whenever it adopts or amends a major rule.

Amends the FRA to prescribe ethics standards governing Federal Reserve Board members and employees, including requirements for disclosure of staff salaries and financial information.

Prescribes requirements for Federal Reserve Board negotiations with any foreign or multinational entity.

Amends the Federal Deposit Insurance Act to prescribe requirements for negotiations by the Board of Directors of the Federal Deposit Insurance Corporation (FDIC) with any foreign or multinational entity.

Directs the Secretary of the Treasury, as a prerequisite to entering into negotiations with any foreign or multinational entity, to notify and consult with certain congressional committees regarding the nature of the agreement and its anticipated effects upon the economy.

]]> Federal Reserve Accountability and Transparency Act of 2014 Display Title Federal Reserve Accountability and Transparency Act of 2014 Official Title as Introduced To amend the Federal Reserve Act to establish requirements for policy rules and blackout periods of the Federal Open Market Committee, to establish requirements for certain activities of the Board of Governors of the Federal Reserve System, and for other purposes. Introduced in House IH Short Titles as Introduced Federal Reserve Accountability and Transparency Act of 2014 Introduced in House 2014-07-07T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-113hr5018ih/xml/BILLS-113hr5018ih.xml 2014-07-30 Ordered to be Reported (Amended) by the Yeas and Nays: 32 - 26. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.