Financial Services Innovation Act of 2024

Summary

Financial Services Innovation Act of 2024 This bill addresses the regulation of financial products and services. Specifically, the bill allows persons intending to offer a financial innovation to petition specified financial regulatory agencies regarding existing areas of regulation. A petitioner may request a modification or waiver of an agency regulation. The bill sets forth requirements regarding the petition process, a safe harbor for petitioners from enforcement, and enforceable compliance agreements. Agencies must biannually publish a list of financial regulatory areas the agency would consider modifying or waiving through the petition process. The bill also establishes Financial Services Innovation Offices at these agencies to assist petitioners. These offices must also generally support the development of financial innovations and coordinate with other offices to share data.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 23 February 2024

   Introduced

   Referred to the House Committee on Financial Services.

   Source: IntroReferral

2. 23 February 2024

   Introduced

   Introduced in House

   Source: IntroReferral

3. 23 February 2024

   Introduced

   Introduced in House

   Source: IntroReferral

4. 17 April 2024

   Vote

   Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 28 - 22.

   Source: Committee

5. 17 April 2024

   Committee

   Committee Consideration and Mark-up Session Held

   Source: Committee

6. 4 December 2024

   Calendars

   Placed on the Union Calendar, Calendar No. 654.

   Source: Calendars

7. 4 December 2024

   Reported

   Reported (Amended) by the Committee on Financial Services. H. Rept. 118-792.

   Source: Committee

8. 4 December 2024

   Reported

   Reported (Amended) by the Committee on Financial Services. H. Rept. 118-792.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Reported in House · 4 December 2024 · Official file
• Introduced in House · 23 February 2024 · Official file

Documents

5 official files

• Reported in House (text)

  Reported in House · EN · 4 December 2024

  ViewDownloadOpen at official source

• Reported in House (PDF)

  Reported in House · EN · 4 December 2024

  ViewDownloadOpen at official source

• Introduced in House (text)

  Introduced in House · EN · 23 February 2024

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 23 February 2024

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 23 February 2024

  Open at official source

Sponsors

• Patrick McHenry · R · Sponsor
• Rep. Donalds, Byron [R-FL-19] · R · Cosponsor
• Tom Emmer · R · Cosponsor
• · hsba00 · Standing

Related records

No cross-record relationships stored yet.