Providing for consideration of the bill (H.R. 3340) to place the Financial Stability Oversight Council and the Office of Financial Research under the regular appropriations process, to provide for certain quarterly reporting and public notice and comment requirements for the Office of Financial Research, and for other purposes, and providing for consideration of the bill (H.R. 3791) to raise the consolidated assets threshold under the small bank holding company policy statement, and for other purposes.

3.0.0 3340 2023-01-11T13:30:20Z 2023-01-11T13:30:20Z House HR 2015-07-29 114 [Congressional Record Volume 161, Number 121 (Wednesday, July 29, 2015)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. EMMER of Minnesota:H.R. 3340.Congress has the power to enact this legislation pursuantto the following:Congress is empowered to regulate interstate commerceunder Article I, Section 8 of the Constitution.[Page H5772]]]> ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2016-04-18T19:40:00Z hsba00 Financial Services Committee House Standing hsba15 Consumer Protection and Financial Institutions Subcommittee Hearings by 2015-10-21T14:26:55Z Reported by 2016-03-23T16:14:00Z Markup by 2015-11-04T15:06:12Z Referred to 2015-07-29T14:09:25Z H. Rept. 114-473 Providing for consideration of the bill (H.R. 3340) to place the Financial Stability Oversight Council and the Office of Financial Research under the regular appropriations process, to provide for certain quarterly reporting and public notice and comment requirements for the Office of Financial Research, and for other purposes, and providing for consideration of the bill (H.R. 3791) to raise the consolidated assets threshold under the small bank holding company policy statement, and for other purposes. 114 671 HRES 2016-04-13 Motion to reconsider laid on the table Agreed to without objection. 14:14:17 Related bill House Procedurally-related House 2016-04-18 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2016-04-14 15:41:39 Motion to reconsider laid on the table Agreed to without objection. Floor H38310 2 House floor actions 2016-04-14 15:41:38 On passage Passed by the Yeas and Nays: 239 - 179 (Roll no. 146). (text: CR H1699) Floor H37100 2 House floor actions 146 https://clerk.house.gov/evs/2016/roll146.xml House 114 2016-04-14T19:41:38Z 2 2016-04-14 15:41:38 Passed/agreed to in House: On passage Passed by the Yeas and Nays: 239 - 179 (Roll no. 146).(text: CR H1699) Floor 8000 9 Library of Congress 146 https://clerk.house.gov/evs/2016/roll146.xml House 114 2016-04-14T19:41:38Z 2 2016-04-14 15:35:20 On motion to table the appeal of the ruling of the Chair Agreed to by the Yeas and Nays: 239 - 176 (Roll No. 145). Floor H36810 2 House floor actions 145 https://clerk.house.gov/evs/2016/roll145.xml House 114 2016-04-14T19:35:20Z 2 2016-04-14 15:13:35 Mr. Hensarling moved to table the motion to appeal the ruling of the chair (consideration: CR H1709) ResolvingDifferences H82000 2 House floor actions 2016-04-14 15:13:19 Ms. Moore appealed the ruling of the chair. The question was then put on sustaining the ruling of the chair. Floor H36800 2 House floor actions 2016-04-14 15:12:59 Mr. Hensarling raised a point of order against the motion to recommit with instructions. Mr. Hensarling stated that the amendment contained provisions not germane to the bill. Sustained by the Chair. (consideration: CR H1708) ResolvingDifferences H81000 2 House floor actions 2016-04-14 15:06:24 DEBATE - The House proceeded with 10 minutes of debate on the Moore motion to recommit with instructions, pending reservation of a point of order. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment providing for consideration of H. Con. Res. 125, establishing the congressional budget for the United States Government for FY 2017. Floor H8D000 2 House floor actions 2016-04-14 15:05:36 Ms. Moore moved to recommit with instructions to the Committee on Financial Services. (consideration: CR H1708; text: CR H1708) Floor H36100 2 House floor actions hsba00 Financial Services Committee 2016-04-14 14:54:39 DEBATE - Pursuant to the provisions of H. Res. 671, the House proceeded with 10 minutes of debate on the Royce Part A amendment No. 1. Floor H8D000 2 House floor actions 2016-04-14 13:48:22 DEBATE - The House proceeded with one hour of debate on H.R. 3340, as amended. Floor H8D000 2 House floor actions 2016-04-14 13:48:21 The resolution provides for consideration of H.R. 3340 and H.R. 3791. Floor H8D000 2 House floor actions 2016-04-14 13:48:01 Considered under the provisions of rule H. Res. 671. (consideration: CR H1699-1710) Floor H30000 2 House floor actions 2016-04-12 20:23:24 Rules Committee Resolution H. Res. 671 Reported to House. Rule provides for consideration of H.R. 3340 and H.R. 3791. The resolution provides for consideration of H.R. 3340 and H.R. 3791. Floor H1L210 2 House floor actions 2016-03-23 Placed on the Union Calendar, Calendar No. 359. Calendars H12410 2 House floor actions U00359 2016-03-23 Reported (Amended) by the Committee on Financial Services. H. Rept. 114-473. Committee H12200 2 House floor actions hsba00 Financial Services Committee 2016-03-23 Reported (Amended) by the Committee on Financial Services. H. Rept. 114-473. Committee 5000 9 Library of Congress hsba00 Financial Services Committee 2015-11-04 hsba00 Financial Services Committee 1 House committee actions Ordered to be Reported (Amended) by the Yeas and Nays: 33 - 24. Committee 2015-11-04 hsba00 Financial Services Committee 1 House committee actions Committee Consideration and Mark-up Session Held. Committee 2015-11-03 hsba00 Financial Services Committee 1 House committee actions Committee Consideration and Mark-up Session Held. Committee 2015-10-21 hsba15 Consumer Protection and Financial Institutions Subcommittee 1 House committee actions Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral. Committee 2015-07-29 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2015-07-29 Introduced in House IntroReferral Intro-H 9 Library of Congress 2015-07-29 Introduced in House IntroReferral 1000 9 Library of Congress E000294 Rep. Emmer, Tom [R-MN-6] Tom Emmer R MN 6 N B001282 Rep. Barr, Andy [R-KY-6] Andy Barr R KY 6 2015-09-08 False R000487 Rep. Royce, Edward R. [R-CA-39] ED ROYCE R CA 39 2015-09-16 False W000816 Rep. Williams, Roger [R-TX-25] Roger Williams R TX 25 2015-09-16 False M001182 Rep. Mulvaney, Mick [R-SC-5] Mick Mulvaney R SC 5 2015-09-17 False P000606 Rep. Pittenger, Robert [R-NC-9] Robert Pittenger R NC 9 2015-09-18 False T000470 Rep. Tipton, Scott R. [R-CO-3] Scott Tipton R CO R. 3 2015-09-18 False S000250 Rep. Sessions, Pete [R-TX-32] PETE SESSIONS R TX 32 2015-09-24 False P000611 Rep. Poliquin, Bruce [R-ME-2] Bruce Poliquin R ME 2 2015-10-09 False M001156 Rep. McHenry, Patrick T. [R-NC-10] Patrick McHenry R NC 10 2015-10-20 False F000458 Rep. Fincher, Stephen Lee [R-TN-8] Stephen Fincher R TN Lee 8 2015-11-02 False M001189 Rep. Messer, Luke [R-IN-6] Luke Messer R IN 6 2015-11-02 False R000593 Rep. Ross, Dennis A. [R-FL-15] Dennis Ross R FL A. 15 2015-11-02 False G000548 Rep. Garrett, Scott [R-NJ-5] Scott Garrett R NJ 5 2015-11-04 False L000569 Rep. Luetkemeyer, Blaine [R-MO-3] Blaine Luetkemeyer R MO 3 2015-11-04 False P000592 Rep. Poe, Ted [R-TX-2] Ted Poe R TX 2 2015-11-17 False 2015-12-01T16:33:00Z H.R. 3340, Financial Stability Oversight Council Reform Act https://www.cbo.gov/publication/51044 As ordered reported by the House Committee on Financial Services on November 4, 2015 Finance and Financial Sector Appropriations Banking and financial institutions regulation Congressional oversight Department of the Treasury Executive agency funding and structure Financial Stability Oversight Council Financial crises and stabilization Finance and Financial Sector

00 2015-07-29 Introduced in House 2015-10-13T14:13:42Z Financial Stability Oversight Council Reform Act

This bill amends the Financial Stability Act of 2010 to make the budgets of the Financial Stability Oversight Council (FSOC) and the Office of Financial Research (OFR) subject to the annual appropriations process and to establish requirements for reports and a public notice and comment period.

The budgets of the FSOC and the OFR are funded by assessments on financial institutions which are deposited into the Financial Research Fund and, under current law, are immediately available to be spent. This bill requires the funding from the Financial Research Fund to be made available by appropriations Acts.

The bill also requires the OFR to: (1) submit quarterly reports to Congress regarding its activities; and (2) provide a public notice and comment period of at least 90 days before issuing any report, rule, or regulation.

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17 2016-03-23 Reported to House with amendment(s) 2016-04-07T20:06:10Z Financial Stability Oversight Council Reform Act

(Sec. 2) The budgets of the FSOC and the OFR are funded by assessments on financial institutions which are deposited into the Financial Research Fund and, under current law, are immediately available to be spent. This bill requires the funding from the Financial Research Fund to be made available by appropriations Acts.

(Sec. 3) The OFR must submit quarterly reports to Congress regarding its:

finances;
workforce; and
actions taken to achieve the goals, objectives, and performance measures of the office.

(Sec. 4) The OFR must provide a public notice and comment period of at least 90 days before issuing any proposed report, rule, or regulation.

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36 2016-04-14 Passed House amended 2016-06-29T18:07:03Z Financial Stability Oversight Council Reform Act

(Sec. 3) The OFR must submit quarterly reports to Congress regarding its:

finances;
workforce; and
actions taken to achieve the goals, objectives, and performance measures of the office.

(Sec. 4) The OFR must provide a public notice and comment period of at least 90 days before issuing any proposed report, rule, or regulation.

(Sec. 5) The bill expands the duties of the OFR to include:

publishing an annual work plan;
consulting with other federal departments and agencies with relevant expertise prior to preparing any public report with respect to a specified entity, class of entities, or financial product or service; and
developing and implementing a cybersecurity plan.

The Government Accountability Office must annually audit the cybersecurity plan and its implementation.

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Financial Stability Oversight Council Reform Act Display Title Financial Stability Oversight Council Reform Act Official Title as Introduced To place the Financial Stability Oversight Council and the Office of Financial Research under the regular appropriations process, to provide for certain quarterly reporting and public notice and comment requirements for the Office of Financial Research, and for other purposes. Introduced in House IH Short Titles as Introduced Financial Stability Oversight Council Reform Act Short Titles as Reported to House Financial Stability Oversight Council Reform Act H House Short Titles as Passed House Financial Stability Oversight Council Reform Act H House 973 114 HAMDT An amendment numbered 1 printed in Part A of House Report 114-489 to require the Office of Financial Research (OFR) of the Department of the Treasury to publish an annual work plan, develop and implement a cybersecurity plan, and collaborate with relevant regulatory agencies when preparing public reports, which shall also be subject to public notice and comment. Amendment requires the Office of Financial Research (OFR) of the Department of the Treasury to publish an annual work plan, develop and implement a cybersecurity plan, and collaborate with relevant regulatory agencies when preparing public reports, which shall also be subject to public notice and comment. 2020-12-15T18:06:42Z 2016-04-14 On agreeing to the Royce amendment (A002) Agreed to by voice vote. 15:05:04 R000487 Rep. Royce, Edward R. [R-CA-39] ED ROYCE R CA 39 2016-04-14T04:00:00Z House of Representatives 114 HR House H 3340 Financial Stability Oversight Council Reform Act 2023-01-11T13:30:20Z 8 2016-04-14 15:05:04 On agreeing to the Royce amendment (A002) Agreed to by voice vote. Floor H34111 2 House floor actions 2016-04-14 15:04:57 The previous question was ordered on the bill and amendment pursuant to the rule. (consideration: CR H1708) Floor H34180 2 House floor actions 2016-04-14 14:54:35 Amendment (A002) offered by Mr. Royce. (consideration: CR H1706-1708; text: CR H1706-1707) Floor H3A100 2 House floor actions 2016-04-14 14:54:35 House amendment offered/reported by : Amendment (A002) offered by Mr. Royce.(consideration: CR H1706-1708; text: CR H1706-1707) NotUsed 71500 9 Library of Congress 2016-04-14 15:05:04 House amendment agreed to: On agreeing to the Royce amendment (A002) Agreed to by voice vote. Floor 72000 9 Library of Congress 2016-04-14 15:05:04 Amendment agreed to by House: On agreeing to the Royce amendment (A002) Agreed to by voice vote. NotUsed 79000 9 Library of Congress 2016-04-14 House amendment offered Floor 71000 9 Library of Congress 972 114 HAMDT An amendment in the nature of a substitute made in order as original text pursuant to H.Res. 671. An amendment in the nature of a substitute made in order as original text pursuant to H.Res. 671. 2020-12-15T18:06:42Z Rules Committee 2016-04-14T04:00:00Z House of Representatives 114 HR House H 3340 Financial Stability Oversight Council Reform Act 2023-01-11T13:30:20Z H.Res. 671 https://www.congress.gov/bill/114th-congress/house-resolution/671 2 2016-04-14 House amendment offered Floor 71000 9 Library of Congress Referred in Senate 2016-04-18T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114hr3340rfs/xml/BILLS-114hr3340rfs.xml Engrossed in House 2016-04-14T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114hr3340eh/xml/BILLS-114hr3340eh.xml Reported in House 2016-03-23T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114hr3340rh/xml/BILLS-114hr3340rh.xml Introduced in House 2015-07-29T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114hr3340ih/xml/BILLS-114hr3340ih.xml 2016-04-18 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. 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.