[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4753 Introduced in House (IH)]

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115th CONGRESS
  2d Session
                                H. R. 4753

   To amend the Federal Reserve Act to require the Vice Chairman for 
Supervision of the Board of Governors of the Federal Reserve System to 
           provide a written report, and for other purposes.


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                    IN THE HOUSE OF REPRESENTATIVES

                            January 10, 2018

  Mr. Lucas introduced the following bill; which was referred to the 
                    Committee on Financial Services

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                                 A BILL


 
   To amend the Federal Reserve Act to require the Vice Chairman for 
Supervision of the Board of Governors of the Federal Reserve System to 
           provide a written report, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Federal Reserve Supervision 
Testimony Clarification Act''.

SEC. 2. VICE CHAIRMAN FOR SUPERVISION REPORT REQUIREMENT.

    Paragraph (12) of section 10 of the Federal Reserve Act (12 U.S.C. 
247(b)) is amended--
            (1) by redesignating such paragraph as paragraph (11); and
            (2) in such paragraph, by adding at the end the following: 
        ``In each such appearance, the Vice Chairman for Supervision 
        shall provide written testimony that includes the status of all 
        pending and anticipated rulemakings that are being made by the 
        Board of Governors of the Federal Reserve System. If, at the 
        time of any appearance described in this paragraph, the 
        position of Vice Chairman for Supervision is vacant, the Vice 
        Chairman for the Board of Governors of the Federal Reserve 
        System (who has the responsibility to serve in the absence of 
        the Chairman) shall appear instead and provide the required 
        written testimony. If, at the time of any appearance described 
        in this paragraph, both Vice Chairman positions are vacant, the 
        Chairman of the Board of Governors of the Federal Reserve 
        System shall appear instead and provide the required written 
        testimony.''.
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