US Congress Senate Bill 3070 (Prior Session Legislation)

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Spectrum: Bipartisan Bill
Status: Introduced on June 14 2018 - 25% progression, died in committee
Action: 2018-06-14 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Pending: Senate Banking, Housing, And Urban Affairs Committee
Text: Latest bill text (Introduced) [PDF]

Financial Institution Living Will Improvement Act of 2018 This bill amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to establish the frequency with which certain nonbank financial companies and bank holding companies shall be required to submit a "living will" (i.e., the company's plan for rapid and orderly resolution in the event of financial distress or failure) to the Federal Reserve Board (FRB), the Financial Stability Oversight Council, and the Federal Deposit Insurance Corporation (FDIC). Specifically, such companies shall be required to do so once every two years. (Current regulations generally require annual submission of plans.) The FRB and the FDIC must provide feedback to a company regarding such a plan within six months.

Financial Institution Living Will Improvement Act of 2018

Sen. Mike Rounds [R-SD]

Sen. Doug Jones [D-AL]

Date	Chamber	Action
2018-06-14	Senate	Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

HB4292 (Related) 2018-02-05 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
HB10 (Related) 2017-07-13 - Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-108.
HB3280 (Related) 2017-07-26 - Committee on Appropriations Senate Subcommittee on Financial Services and General Government. Hearings held on the subject prior to measure being received from the House. Hearings printed: S. Hrg. 115-191.
HB3354 (Related) 2017-09-27 - Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 230.
HB6258 (Related) 2018-06-28 - Placed on the Union Calendar, Calendar No. 612.

Type	Source
Summary	https://www.congress.gov/bill/115th-congress/senate-bill/3070/all-info
Text	https://www.congress.gov/115/bills/s3070/BILLS-115s3070is.pdf