[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 974 Introduced in House (IH)]

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116th CONGRESS
  1st Session
                                H. R. 974

   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

                            February 5, 2019

  Mr. Gottheimer (for himself and 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. 
247b) is amended--
            (1) by redesignating such paragraph as paragraph (11); and
            (2) in such paragraph--
                    (A) by striking ``shall appear'' and inserting 
                ``shall provide written testimony and appear''; and
                    (B) by adding at the end the following: ``If, at 
                the time of any appearance described in this paragraph, 
                the position of Vice Chairman for Supervision is 
                vacant, the Chairman or their designee shall appear 
                instead and provide the required written testimony.''.
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