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      <constitutionalAuthorityStatementText>&lt;pre&gt;[Congressional Record Volume 169, Number 104 (Wednesday, June 14, 2023)][House]From the Congressional Record Online through the Government Publishing Office [&lt;a href="https://www.gpo.gov"&gt;www.gpo.gov&lt;/a&gt;]By Mr. GREEN of Texas:H.R. 4116.Congress has the power to enact this legislation pursuantto the following:Necessary and Proper Clause (Art. 1, Sec. 8, Cl. 18)The single subject of this legislation is:To amend the Federal Deposit Insurance Act to requirereports on the use of the systemic risk authority applicableto winding up a failed insured depository institution, andfor other purposes.[Page H2933]&lt;/pre&gt;</constitutionalAuthorityStatementText>
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        <fullName>Rep. Green, Al [D-TX-9]</fullName>
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        <state>TX</state>
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        <fullName>Rep. Sherman, Brad [D-CA-32]</fullName>
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        <party>D</party>
        <state>CA</state>
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        <fullName>Rep. Beatty, Joyce [D-OH-3]</fullName>
        <firstName>Joyce</firstName>
        <lastName>Beatty</lastName>
        <party>D</party>
        <state>OH</state>
        <district>3</district>
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        <pubDate>2024-07-17T22:47:00Z</pubDate>
        <title>H.R. 4116, Systemic Risk Authority Transparency Act</title>
        <url>https://www.cbo.gov/publication/60540</url>
        <description>As ordered reported by the House Committee on Financial Services on April 17, 2024</description>
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          <text>&lt;p&gt;&lt;b&gt;Systemic Risk Authority Transparency Act &lt;/b&gt;&lt;/p&gt; &lt;p&gt;This bill requires banking regulators to submit a report to Congress in the event of the failure of an insured depository institution that leads to a systemic risk determination by the Department of the Treasury. &lt;/p&gt; &lt;p&gt;Regulators must report confidential supervisory information relating to the institution, any institutional mismanagement by the executives and the board, any shortcomings by the regulator, and recommendations to improve the safety and soundness of similarly situated institutions. This report must be made no later than 60 days after such a determination and again 180 days afterwards. &lt;/p&gt; &lt;p&gt;The Governmental Accountability Office (GAO) must report on additional factors in its report regarding such a determination. Specifically, GAO must report on any mismanagement by the executives and board of the institution, a review of the institution's compensation practices, supervisory or regulatory shortcomings, actions taken by regulators, and other relevant information. The bill also requires this report to be made no later than 60 days after such a determination and again 180 days afterwards. &lt;/p&gt;</text>
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    <title>Systemic Risk Authority Transparency Act</title>
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        <title>To amend the Federal Deposit Insurance Act to require reports on the use of the systemic risk authority applicable to winding up a failed insured depository institution, and for other purposes.</title>
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      <text>Placed on the Union Calendar, Calendar No. 512.</text>
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    <dc:rights>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.</dc:rights>
    <dc:contributor>Congressional Research Service, Library of Congress</dc:contributor>
    <dc:description>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.</dc:description>
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