H.R. 7437 · 118th Congress
Fostering the Use of Technology to Uphold Regulatory Effectiveness in Supervision Act
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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
HouchinSponsor3 cosponsors · 2 D, 1 R
2 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Fostering the Use of Technology to Uphold Regulatory Effectiveness in Supervision Act
What it does: CRS summary · Introduced in House · Feb 23, 2024
Fostering the Use of Technology to Uphold Regulatory Effectiveness in Supervision Act
This bill requires the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the Consumer Financial Protection Bureau, and the National Credit Union Administration to assess the technology used by the entity and its capabilities to conduct real-time supervisory assessments.
Every five years, these entities must report to specified congressional committees. The report must contain an overview of the technology used in supervisory assessments and any anticipated upgrades, a description of procurement practices, an overview of the entity’s technology development workforce, and details regarding data sharing procedures.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Fostering the Use of Technology to Uphold Regulatory Effectiveness in Supervision Act
Latest action (Nov 1, 2024): Placed on the Union Calendar, Calendar No. 615.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Feb 23, 2024
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.