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United States · Bill · HR

H.R. 3340 (114th)

Financial Stability Oversight Council Reform Act

referredUnited States· United States Congress· EN

Introduced

29 July 2015

Last action

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Status

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Sponsors

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Subjects

Discovery layer

Source updated

7 April 2025

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Summary

Financial Stability Oversight Council Reform Act This bill amends the Financial Stability Act of 2010 to make the budgets of the Financial Stability Oversight Council (FSOC) and the Office of Financial Research (OFR) subject to the annual appropriations process and to establish requirements for reports and a public notice and comment period. The budgets of the FSOC and the OFR are funded by assessments on financial institutions which are deposited into the Financial Research Fund and, under current law, are immediately available to be spent. This bill requires the funding from the Financial Research Fund to be made available by appropriations Acts. The bill also requires the OFR to: (1) submit quarterly reports to Congress regarding its activities; and (2) provide a public notice and comment period of at least 90 days before issuing any report, rule, or regulation.

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Documents

11 official files

Referred in Senate (text)

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