summary
Introduced
07/19/2023
07/19/2023
In Committee
07/19/2023
07/19/2023
Crossed Over
Passed
Dead
01/03/2025
01/03/2025
Introduced Session
118th Congress
Bill Summary
A BILL To require Federal banking regulators to report on the implementation of recommendations from the FSOC Chairperson and Executive Orders, and for other purposes.
AI Summary
This bill, the Stop Executive Capture of Banking Regulators Act, requires federal banking regulators such as the Federal Reserve, Comptroller of the Currency, Federal Deposit Insurance Corporation, National Credit Union Administration, and Federal Housing Finance Administration to report to Congress before implementing any non-binding recommendations made by the Chairperson of the Financial Stability Oversight Council (FSOC) or contained in an Executive Order. This includes providing notice, a report on the proposed implementation and justification, and testimony upon request within 120 days of the notice. The purpose is to increase transparency and oversight of banking regulators' actions in response to FSOC and Executive recommendations.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Referred to the House Committee on Financial Services. (on 07/19/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/118th-congress/house-bill/4737/all-info |
| BillText | https://www.congress.gov/118/bills/hr4737/BILLS-118hr4737ih.pdf |
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