United States · Bill · HR
H.R. 4823 (118th)
American FIRST Act of 2023
Introduced
24 July 2023
Last action
19 December 2023 · Reported
Status
Placed on the Union Calendar, Calendar No. 264.
Sponsors
Rep. Loudermilk, Barry [R-GA-11], Rep. Barr, Andy [R-KY-6], Rep. Flood, Mike [R-NE-1], Rep. Ogles, Andrew [R-TN-5]
Subjects
Housing, Climate
Source updated
27 May 2025
Summary
American Financial Institution Regulatory Sovereignty and Transparency Act of 2023 or the American FIRST Act of 2023 This bill establishes reporting requirements for the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Federal Housing Finance Administration. Specifically, the bill requires these entities to report to Congress prior to implementing a non-binding recommendation from the Financial Stability Oversight Council or a recommendation contained in an Executive Order. Further, these entities must report to Congress regarding activity associated with certain nongovernmental international organizations, including the Basel Committee on Banking Supervision. Specifically, when proposing or finalizing major rules to conform with recommendations from these organizations, entities must submit to Congress notice, testimony, and a detailed economic analysis with respect to the proposed or final rule prior to its issuance. Additionally, in order to engage with these organizations about climate-related financial risks, entities must report on any participation with the organization’s activities and on the organization's funding sources. Entities must also report on any recommendations received from international organizations for international standardization regarding open-market policies and operations, discount lending and operations, or supervisory policies and operations. The bill also eliminates the position of Vice Chairman for Supervision from the Board of Governors of the Federal Reserve System. Currently, the Vice Chairman for Supervision develops policy recommendations for depository institution holding companies and other entities and oversees the supervision and regulation of these entities.
This text is taken from the official record. PoliticalRepo does not editorialize.
Timeline
24 July 2023
Introduced
Referred to the House Committee on Financial Services.
Source: IntroReferral
24 July 2023
Introduced
Introduced in House
Source: IntroReferral
24 July 2023
Introduced
Introduced in House
Source: IntroReferral
27 July 2023
Vote
Ordered to be Reported (Amended) by the Yeas and Nays: 29 - 21.
Source: Committee
27 July 2023
Committee
Committee Consideration and Mark-up Session Held
Source: Committee
19 December 2023
Calendars
Placed on the Union Calendar, Calendar No. 264.
Source: Calendars
19 December 2023
Reported
Reported (Amended) by the Committee on Financial Services. H. Rept. 118-325.
Source: Committee
19 December 2023
Reported
Reported (Amended) by the Committee on Financial Services. H. Rept. 118-325.
Source: Committee
Votes
No vote records are attached yet.
Versions
- Reported in House · 19 December 2023 · Download file
- Introduced in House · 24 July 2023 · Download file
Documents
6 official files
Reported in House (text)
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Leesvertaling
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Reported in House (text)
Reported in House · EN · 19 December 2023
Reported in House (PDF)
Reported in House · EN · 19 December 2023
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Reported to House
summary · EN · 19 December 2023
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Introduced in House (text)
Introduced in House · EN · 24 July 2023
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Introduced in House (PDF)
Introduced in House · EN · 24 July 2023
ViewDownloadOpen at official source
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Introduced in House
summary · EN · 24 July 2023
Leesvertaling
Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.
Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.
Sponsors
- Rep. Loudermilk, Barry [R-GA-11] · R · Sponsor
- Rep. Barr, Andy [R-KY-6] · R · Sponsor
- Rep. Flood, Mike [R-NE-1] · R · Sponsor
- Rep. Ogles, Andrew [R-TN-5] · R · Sponsor
- · hsba00 · Standing
Related records
- related to → Banking Regulator International Reporting Act
- related to → Ensuring U.S. Authority over U.S. Banking Regulations Act
- related to → Stop Executive Capture of Banking Regulators Act
- related to → Supervision Reform Act of 2023
- related to ← Prioritizing Economic Growth Over Woke Policies Act
Sources
PoliticalRepo is an index and interpretation layer, not the authoritative legal source.
- Official source: https://www.congress.gov/bill/118th-congress/house-bill/4823
- Open data entity: https://api.congress.gov/v3/bill/118/hr/4823
- us · 118-hr-4823 · source updated 27 May 2025