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        <chamber>Senate</chamber>
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        <title>Financial Stability Oversight Council Improvement Act of 2023</title>
        <congress>118</congress>
        <number>3812</number>
        <type>HR</type>
        <latestAction>
          <actionDate>2023-06-05</actionDate>
          <text>Referred to the House Committee on Financial Services.</text>
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        <text>Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.</text>
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        <fullName>Sen. Rounds, Mike [R-SD]</fullName>
        <firstName>Mike</firstName>
        <lastName>Rounds</lastName>
        <party>R</party>
        <state>SD</state>
        <isByRequest>N</isByRequest>
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    <cosponsors>
      <item>
        <bioguideId>S001191</bioguideId>
        <fullName>Sen. Sinema, Kyrsten [I-AZ]</fullName>
        <firstName>Kyrsten</firstName>
        <lastName>Sinema</lastName>
        <party>I</party>
        <state>AZ</state>
        <sponsorshipDate>2024-01-17</sponsorshipDate>
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      <name>Finance and Financial Sector</name>
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      <policyArea>
        <name>Finance and Financial Sector</name>
        <updateDate>2024-02-21T16:30:55Z</updateDate>
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        <actionDate>2024-01-17</actionDate>
        <actionDesc>Introduced in Senate</actionDesc>
        <updateDate>2024-08-22T21:19:32Z</updateDate>
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          <text>&lt;p&gt;&lt;strong&gt;Financial Stability Oversight Council Improvement Act of 2024&lt;/strong&gt;&lt;/p&gt;&lt;p&gt;This bill requires the Financial Stability Oversight Council, prior to determining that a U.S.&amp;nbsp;nonbank financial company shall be supervised by the Federal Reserve Board and therefore subject to certain prudential standards, to first determine that certain alternative actions would not mitigate the threat the company may pose to U.S. financial stability.&lt;/p&gt;&lt;p&gt;The bill also requires the council to annually submit a report to Congress identifying planning materials and activities relating to threats to U.S. financial stability, as well as steps taken by the council to plan for a financial crisis.&lt;/p&gt;&lt;p&gt;Finally, the council must publicly release detailed minutes after a closed meeting of the council.&lt;/p&gt;</text>
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    <title>Financial Stability Oversight Council Improvement Act of 2024</title>
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        <title>Financial Stability Oversight Council Improvement Act of 2024</title>
        <updateDate>2024-07-24T15:19:23Z</updateDate>
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        <titleType>Short Title(s) as Introduced</titleType>
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        <title>Financial Stability Oversight Council Improvement Act of 2024</title>
        <updateDate>2024-05-24T13:34:35Z</updateDate>
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      <item>
        <titleType>Official Title as Introduced</titleType>
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        <title>A bill to amend the Financial Stability Act of 2010 to require the Financial Stability Oversight Council to consider alternative approaches before determining that a U.S. nonbank financial company shall be supervised by the Board of Governors of the Federal Reserve System, and for other purposes.</title>
        <updateDate>2024-02-23T09:08:26Z</updateDate>
        <billTextVersionName>Introduced in Senate</billTextVersionName>
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        <date>2024-01-17T05:00:00Z</date>
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    <latestAction>
      <actionDate>2024-01-17</actionDate>
      <text>Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.</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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