3.0.0 5180 2023-01-11T13:25:57Z 2023-01-11T13:25:57Z House H HR 2014-07-23 113 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. ROSS:H.R. 5180.Congress has the power to enact this legislation pursuantto the following:Article 1, Section 8, Clause 3 (The Congress shall have thePower ``to regulate Commerce with foreign Nations, and amongthe several States and with the Indian Tribes'') and Article1, Section 8, Clause 18 (The Congress shall have the Power``to make all Laws which shall be necessary and proper forcarrying into Execution the foregoing Powers, and all otherPowers vested by this Constitution in the Government of theUnited States, or in any Department or Officer thereof'').[Page H6745]]]> hsba00 Financial Services Committee House Standing Referred to 2014-07-23T14:02:00Z 2014-07-23 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2014-07-23 Introduced in House IntroReferral Intro-H 9 Library of Congress 2014-07-23 Introduced in House IntroReferral 1000 9 Library of Congress R000593 Rep. Ross, Dennis A. [R-FL-15] Dennis Ross R FL A. 15 N D000620 Rep. Delaney, John K. [D-MD-6] John Delaney D MD K. 6 2014-07-23 True B000013 Rep. Bachus, Spencer [R-AL-6] SPENCER BACHUS R AL 6 2014-07-23 True M001191 Rep. Murphy, Patrick [D-FL-18] Patrick Murphy D FL 18 2014-07-23 True S001191 Rep. Sinema, Kyrsten [D-AZ-9] Kyrsten Sinema D AZ 9 2014-07-23 True L000569 Rep. Luetkemeyer, Blaine [R-MO-3] Blaine Luetkemeyer R MO 3 2014-07-23 True B001282 Rep. Barr, Andy [R-KY-6] Andy Barr R KY 6 2014-08-01 False Finance and Financial Sector Administrative law and regulatory procedures Administrative remedies Bank accounts, deposits, capital Banking and financial institutions regulation Congressional oversight Federal Reserve System Financial Stability Oversight Council Financial crises and stabilization Financial services and investments Government information and archives Government studies and investigations Finance and Financial Sector 00 2014-07-23 Introduced in House 2014-10-06T16:40:38Z Financial Stability Oversight Council Improvement Act of 2014 - Amends the Financial Stability Act of 2010 to subject the Financial Stability Oversight Council (Council) to the Administrative Procedure Act.

Requires the Council to make publicly available any final report study or analysis it has prepared, unless exempt from disclosure.

Requires the Council, when determining whether to subject a U.S. or a foreign nonbank financial company to supervision by the Board of Governors of the Federal Reserve System and to prudential standards, to consider the appropriateness of imposing such standards as opposed to other forms of regulation to mitigate identified risks to U.S. financial stability.

Requires the Council, when reevaluating determinations with respect to a nonbank financial company under Federal Reserve Board supervision, to provide written notice to the company and afford it opportunity to submit written materials to contest the determination.

Directs the Council, upon identifying a nonbank financial company for comprehensive analysis of its potential to pose a threat to U.S. financial stability, to provide: (1) written notice that explains with specificity the basis for the identification, and (2) an opportunity to submit written materials for Council consideration.

Prescribes procedural requirements for proposed determinations and final decisionmaking by the Council, including periodic review of individual determinations.

Directs the Council every five years to study: (1) the impact of its determinations to subject nonbank financial companies to Federal Reserve Board supervision and prudential standards, and (2) whether such determinations have the intended result of improving domestic financial stability.

]]> Financial Stability Oversight Council Improvement Act of 2014 Display Title Financial Stability Oversight Council Improvement Act of 2014 Official Title as Introduced To amend the Financial Stability Act of 2010 to improve the transparency of the Financial Stability Oversight Council, to improve the SIFI designation process, and for other purposes. Introduced in House IH Short Titles as Introduced Financial Stability Oversight Council Improvement Act of 2014 Introduced in House 2014-07-23T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-113hr5180ih/xml/BILLS-113hr5180ih.xml 2014-07-23 Referred to the House Committee on Financial Services. 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.