H.R. 3465 · 118th Congress
To enhance Federal Deposit Insurance Corporation transparency.
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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
BarrSponsor1 cosponsor · 1 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill requires additional notice and reporting by agencies when providing assistance to an insured depository institution.
What it does: CRS summary · Introduced in House · May 18, 2023
This bill requires additional notice and reporting by agencies when providing assistance to an insured depository institution. First, the Federal Deposit Insurance Corporation (FDIC) must notify the appropriate congressional committees prior to taking action or providing assistance for the purpose of winding up an institution in receivership that presents the risk for serious adverse effects on economic conditions or financial stability. The bill also revises the basis for determining the least costly approach to satisfy the FDIC's obligations to depositors.
The Department of the Treasury must preserve specified information that documents a determination of an institution's potential to cause serious adverse effects on economic conditions or financial stability.
The Board of Directors of the FDIC, Treasury, and Board of Governors of the Federal Reserve System must report to the appropriate congressional committees additional information on emergency determinations.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: To enhance Federal Deposit Insurance Corporation transparency.
Latest action (May 18, 2023): Referred to the House Committee on Financial Services.
Policy area: Finance and Financial Sector · Origin: House · Introduced: May 18, 2023
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.