Pipeline · Bill → Law
Step 1
Introduced
May 18, 2023
Step 2
Referred
May 18, 2023
Financial Services · Rules
Step 3
Committee
Step 4
House floor
Step 5
Senate
Step 6
Resolve Changes
Step 7
Signed
SummaryCRS Summary
This bill makes several changes to the Financial Stability Oversight Council (FSOC), including by requiring congressional approval before certain activities, eliminating certain duties, and by capping FSOC assessments. The FSOC monitors threats to U.S. financial stability through cross-agency information sharing, regulatory coordination, and the designation of certain companies and activities as significant. The bill requires congressional approval before subjecting a nonbank financial company to enhanced prudential supervision. Currently, the FSOC makes this determination upon an evaluation and vote that requires two-thirds of the council's approval. The bill also eliminates the emergency...
Timeline · 3 actions
May 18, 2023
Introduced in House
May 18, 2023
Referred to the Committee on Financial Services, and in addition to the Committee on Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
May 18, 2023
Referred to the Committee on Financial Services, and in addition to the Committee on Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.