3.0.0 3557 2023-01-11T13:29:52Z 2023-01-11T13:29:52Z House HR 2015-09-18 114 [Congressional Record Volume 161, Number 135 (Friday, September 18, 2015)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. GARRETT:H.R. 3557.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clause 3 (The Congress shall havePower ``To regulate Commerce with foreign Nations, and amongthe several States and within the Indian Tribes'') andArticle I, Section 8, Clause 18 (The Congress shall havePower ``to make all Laws which shall be necessary and properfor carrying into Execution the foregoing Powers, and allother Powers vested by this Constitution in the Government ofthe United States, or in any Department or Officerthereof'').[Page H6179]]]> hsba00 Financial Services Committee House Standing Reported by 2016-04-19T18:24:16Z Markup by 2015-11-04T15:06:34Z Referred to 2015-09-18T13:01:10Z H. Rept. 114-507 Financial CHOICE Act of 2016 114 5983 HR 2016-12-20 Placed on the Union Calendar, Calendar No. 693. Related bill CRS 2016-04-19 Placed on the Union Calendar, Calendar No. 387. Calendars H12410 2 House floor actions U00387 2016-04-19 Reported by the Committee on Financial Services. H. Rept. 114-507. Committee H12200 2 House floor actions hsba00 Financial Services Committee 2016-04-19 Reported by the Committee on Financial Services. H. Rept. 114-507. 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 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 2015-09-18 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2015-09-18 Introduced in House IntroReferral Intro-H 9 Library of Congress 2015-09-18 Introduced in House IntroReferral 1000 9 Library of Congress G000548 Rep. Garrett, Scott [R-NJ-5] Scott Garrett R NJ 5 N H001060 Rep. Hurt, Robert [R-VA-5] Robert Hurt R VA 5 2015-09-18 True W000812 Rep. Wagner, Ann [R-MO-2] Ann Wagner R MO 2 2015-09-22 False M001182 Rep. Mulvaney, Mick [R-SC-5] Mick Mulvaney R SC 5 2015-09-29 False E000294 Rep. Emmer, Tom [R-MN-6] Tom Emmer R MN 6 2015-11-02 False F000458 Rep. Fincher, Stephen Lee [R-TN-8] Stephen Fincher R TN Lee 8 2015-11-02 False 2016-02-10T22:34:18Z H.R. 3557, FSOC Transparency and Accountability Act https://www.cbo.gov/publication/51236 As ordered reported by the House Committee on Financial Services on November 4, 2015 Finance and Financial Sector Administrative law and regulatory procedures Advisory bodies Banking and financial institutions regulation Commodity Futures Trading Commission Congressional oversight Federal Deposit Insurance Corporation (FDIC) Federal Reserve System Financial Stability Oversight Council Financial crises and stabilization Government ethics and transparency, public corruption National Credit Union Administration Securities and Exchange Commission (SEC) Finance and Financial Sector 00 2015-09-18 Introduced in House 2015-09-28T20:11:00Z FSOC Transparency and Accountability Act

Amends the Financial Stability Act of 2010 to repeal the nonapplicability of the Federal Advisory Committee Act (FACA) to the Financial Stability Oversight Council (thus applying FACA to the Council).

Declares the Council an agency for purposes of the "Government in the Sunshine Act" (and its open meeting requirements).

Revises the voting profile of Council members to single out the following member agencies as each having collectively one vote: (1) the Board of Governors of the Federal Reserve System, (2) the Securities and Exchange Commission (SEC), (3) the Federal Deposit Insurance Corporation (FDIC), (4) the Commodity Futures Trading Commission (CFTC), and (5) the National Credit Union Administration (NCUA) Board.

Directs these member agencies to: (1) determine their Council vote by using the voting process normally applicable to votes by their members, and (2) cast the one collective Council vote by the agency head.

Permits any Council member to select to have one or more individuals on the member's staff attend a meeting of the Council, including any meeting of representatives of the member agencies other than the members themselves.

Requires all Council meetings to be open to attendance and participation by members of specified congressional committees, including any meeting of representatives of the member agencies other than the members themselves.

]]> 79 2016-04-19 Reported to House without amendment 2016-04-20T21:11:49Z (This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

FSOC Transparency and Accountability Act

(Sec. 2) This bill amends the Financial Stability Act of 2010 to repeal the nonapplicability of the Federal Advisory Committee Act (FACA) to the Financial Stability Oversight Council (thus applying FACA to the Council).

The Council is declared an agency for purposes of the "Government in the Sunshine Act" (and its open meeting requirements).

The voting profile of Council members is revised to cite the following member agencies as each having collectively one vote: (1) the Board of Governors of the Federal Reserve System, (2) the Securities and Exchange Commission (SEC), (3) the Federal Deposit Insurance Corporation (FDIC), (4) the Commodity Futures Trading Commission (CFTC), and (5) the National Credit Union Administration (NCUA) Board.

Such member agencies shall: (1) determine their Council vote by using the voting process normally applicable to votes by their members, and (2) cast the one collective Council vote by the agency head.

A Council member may select to have one or more individuals on the member's staff attend a meeting of the Council, including any meeting of representatives of the member agencies other than the members themselves.

All Council meetings shall be open to attendance and participation by members of specified congressional committees, including any meeting of representatives of the member agencies other than the members themselves.

]]> FSOC Transparency and Accountability Act Display Title FSOC Transparency and Accountability Act Official Title as Introduced To amend the Financial Stability Act of 2010 to require the Financial Stability Oversight Council to hold open meetings and comply with the requirements of the Federal Advisory Committee Act, to provide additional improvements to the Council, and for other purposes. Introduced in House IH Short Titles as Introduced FSOC Transparency and Accountability Act Short Titles as Reported to House FSOC Transparency and Accountability Act H House Reported in House 2016-04-19T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114hr3557rh/xml/BILLS-114hr3557rh.xml Introduced in House 2015-09-18T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114hr3557ih/xml/BILLS-114hr3557ih.xml 2016-04-19 Placed on the Union Calendar, Calendar No. 387. 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.