HR 4292 · 115th Congress · Finance and Financial Sector
Financial Institution Living Will 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.(2018-02-05)
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Plain Language Summary
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Financial Institution Living Will Improvement Act of 2017 This bill amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to limit the frequency with which certain nonbank financial companies and bank holding companies shall be required to submit a "living will" (i.e., the company's plan for rapid and orderly resolution in the event of financial distress or failure) to the Federal Reserve Board (FRB), the Financial Stability Oversight Council, and the Federal Deposit Insurance Corporation (FDIC). Specifically, such companies shall be required to do so no more than once every two years. The FRB and the FDIC must provide feedback to a company regarding such a plan within six months.…
Summarized by Claude AI · Non-partisan · For informational purposes only
CBO Cost Estimate
Congressional Budget OfficeH.R. 4292, Financial Institution Living Will Improvement Act of 2017
Dec 8, 2017As ordered reported by the House Committee on Financial Services on November 15, 2017
Full CBO report ↗Official non-partisan budget analysis by the Congressional Budget Office
Cosponsors (3)
2 Democrats1 Republican