3.0.0 3466 2025-05-27T14:12:17Z 2025-05-27T14:12:17Z House H HR 2023-05-18 118 <pre>[Congressional Record Volume 169, Number 84 (Thursday, May 18, 2023)][House]From the Congressional Record Online through the Government Publishing Office [<a href="https://www.gpo.gov">www.gpo.gov</a>]By Mr. BARR:H.R. 3466.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clause 3:To regulate Commerce with foreign Nations, and among theseveral States, and with the Indian Tribes;The single subject of this legislation is:To enhance the transparency of FSOC's activities.[Page H2457]</pre> hsru00 Rules Committee House Standing Referred To 2023-05-18T13:11:35Z hsba00 Financial Services Committee House Standing Referred To 2023-05-18T13:11:30Z 118 3556 HR 2024-12-19 Placed on the Union Calendar, Calendar No. 781. Related bill CRS 2023-05-18 Referred to the Committee on Financial Services, and in addition to the Committee on Rules, 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 hsru00 Rules Committee 2023-05-18 Referred to the Committee on Financial Services, and in addition to the Committee on Rules, 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 2023-05-18 Introduced in House IntroReferral Intro-H 9 Library of Congress 2023-05-18 Introduced in House IntroReferral 1000 9 Library of Congress B001282 Rep. Barr, Andy [R-KY-6] Andy Barr R KY 6 N L000583 Rep. Loudermilk, Barry [R-GA-11] Barry Loudermilk R GA 11 2023-05-18 True Finance and Financial Sector Finance and Financial Sector 2023-06-08T16:31:47Z

00 2023-05-18 Introduced in House 2024-02-21T18:47:33Z <p>This bill makes several changes to the Financial Stability Oversight Council (FSOC), including by requiring congressional approval before certain activities, eliminating certain duties, and by capping FSOC assessments. The FSOC monitors threats to U.S. financial stability through cross-agency information sharing, regulatory coordination, and the designation of certain companies and activities as significant. </p> <p>The bill requires congressional approval before subjecting a nonbank financial company to enhanced prudential supervision. Currently, the FSOC makes this determination upon an evaluation and vote that requires two-thirds of the council's approval. The bill also eliminates the emergency exception to this authority that allows the FSOC to waive or modify certain requirements.</p> <p>The bill eliminates several of the FSOC's duties and activities, including its duty to make recommendations to the Federal Reserve Board to establish certain heightened prudential standards for nonbank financial companies and large bank holding companies supervised by the Federal Reserve Board.</p> <p>FSOC assessments are capped at current levels. </p> <p>The bill requires that the FSOC notify Congress before performing several actions, including gathering information from bank holding companies and nonbank financial companies. In addition, the bill adds an independent member to the FSOC that serves for six years and who must be from a different political party than the President. </p> <p>The Government Accountability Office must audit the FSOC annually.</p>

Display Title 45 2024-07-24T15:22:03Z Official Title as Introduced 6 2024-03-18T20:51:17Z Introduced in House IH Introduced in House 2023-05-18T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-118hr3466ih/xml/BILLS-118hr3466ih.xml 2023-05-18 Referred to the Committee on Financial Services, and in addition to the Committee on Rules, 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. 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.