HR 4061 · 115th Congress · Finance and Financial Sector
Financial Stability Oversight Council Improvement Act of 2017
Bill Progress
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Introduced✓
Committee✓
House Vote4
Senate5
EnactedLatest: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.(2018-04-12)
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Plain Language Summary
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Financial Stability Oversight Council Improvement Act of 2017 This bill amends the Financial Stability Act of 2010 to require the Financial Stability Oversight Council, in determining whether a nonbank financial company shall be designated as systemically important and consequently be supervised by the Federal Reserve Board and subject to prudential standards, to consider the appropriateness of imposing such standards as opposed to other forms of regulation to mitigate identified risks to U.S. financial stability. Every five years, the council must, upon request by a nonbank financial company, reevaluate such a determination and hold a vote on whether to rescind it. The bill revises procedural requirements related to council determinations.…
Summarized by Claude AI · Non-partisan · For informational purposes only
CBO Cost Estimate
Congressional Budget OfficeH.R. 4061, Financial Stability Oversight Council Improvement Act of 2017
Mar 9, 2018As ordered reported by the House Committee on Financial Services on January 18, 2018
Full CBO report ↗Official non-partisan budget analysis by the Congressional Budget Office
Cosponsors (20)
10 Democrats10 Republicans