S. 3601 · 118th Congress
Financial Stability Oversight Council Improvement Act of 2024
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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.
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1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Financial Stability Oversight Council Improvement Act of 2024
What it does: CRS summary · Introduced in Senate · Jan 17, 2024
Financial Stability Oversight Council Improvement Act of 2024
This bill requires the Financial Stability Oversight Council, prior to determining that a U.S. nonbank financial company shall be supervised by the Federal Reserve Board and therefore subject to certain prudential standards, to first determine that certain alternative actions would not mitigate the threat the company may pose to U.S. financial stability.
The bill also requires the council to annually submit a report to Congress identifying planning materials and activities relating to threats to U.S. financial stability, as well as steps taken by the council to plan for a financial crisis.
Finally, the council must publicly release detailed minutes after a closed meeting of the council.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Financial Stability Oversight Council Improvement Act of 2024
Latest action (Jan 17, 2024): Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy area: Finance and Financial Sector · Origin: Senate · Introduced: Jan 17, 2024
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.