US Congress House Bill 3557 (Prior Session Legislation)

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Sponsorship: Partisan Bill (Republican 6)
Status: Introduced on September 18 2015 - 25% progression, died in chamber
Action: 2016-04-19 - Placed on the Union Calendar, Calendar No. 387.
Text: Latest bill text (Introduced) [PDF]

FSOC Transparency and Accountability Act (Sec. 2) This bill amends the Financial Stability Act of 2010 to repeal the nonapplicability of the Federal Advisory Committee Act (FACA) to the Financial Stability Oversight Council (thus applying FACA to the Council). The Council is declared an agency for purposes of the "Government in the Sunshine Act" (and its open meeting requirements). The voting profile of Council members is revised to cite the following member agencies as each having collectively one vote: (1) the Board of Governors of the Federal Reserve System, (2) the Securities and Exchange Commission (SEC), (3) the Federal Deposit Insurance Corporation (FDIC), (4) the Commodity Futures Trading Commission (CFTC), and (5) the National Credit Union Administration (NCUA) Board. Such member agencies shall: (1) determine their Council vote by using the voting process normally applicable to votes by their members, and (2) cast the one collective Council vote by the agency head. A Council member may select to have one or more individuals on the member's staff attend a meeting of the Council, including any meeting of representatives of the member agencies other than the members themselves. All Council meetings shall be open to attendance and participation by members of specified congressional committees, including any meeting of representatives of the member agencies other than the members themselves.

FSOC Transparency and Accountability Act

Rep. Scott Garrett [R-NJ]	Rep. Robert Hurt [R-VA]	Rep. Ann Wagner [R-MO]	Rep. Mick Mulvaney [R-SC]
Rep. Tom Emmer [R-MN]	Rep. Stephen Fincher [R-TN]

Date	Chamber	Action
2016-04-19	House	Placed on the Union Calendar, Calendar No. 387.
2016-04-19	House	Reported by the Committee on Financial Services. H. Rept. 114-507.
2015-11-04	House	Ordered to be Reported by the Yeas and Nays: 33 - 24.
2015-11-04	House	Committee Consideration and Mark-up Session Held.
2015-11-03	House	Ordered to be Reported by the Yeas and Nays: 33 - 24.
2015-11-03	House	Committee Consideration and Mark-up Session Held.
2015-09-18	House	Referred to the House Committee on Financial Services.
2015-09-18	House	Introduced in House

Type	Source
Summary	https://www.congress.gov/bill/114th-congress/house-bill/3557/all-info
Text	https://www.congress.gov/114/bills/hr3557/BILLS-114hr3557ih.pdf
Text	https://www.congress.gov/114/bills/hr3557/BILLS-114hr3557rh.pdf