Banking Regulator Accountability Act

Hozzl · 2023-12-15T15:58:28Z

Explore the details of House Bill 3555 Banking Regulator Accountability Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Finance and Financial Sector. Stay informed on legislative developments.

12/15/2023, 3:58 PM

Summary of Bill HR 3555

Bill 118 hr 3555, also known as the Banking Regulator Accountability Act, aims to increase transparency and accountability within the banking regulatory agencies in the United States. The bill specifically targets the Federal Reserve, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation.

One of the key provisions of the bill is the requirement for these agencies to provide detailed reports to Congress on their activities, including their budget, expenditures, and regulatory actions. This will allow for greater oversight of the agencies by elected officials and the public.

Additionally, the bill calls for the establishment of an independent inspector general within each agency to investigate complaints of misconduct or inefficiency. This will help ensure that the agencies are operating in a fair and effective manner. Overall, the Banking Regulator Accountability Act seeks to promote transparency and accountability within the banking regulatory agencies, ultimately aiming to protect consumers and maintain the stability of the financial system.

Congressional Summary of HR 3555

Banking Regulator Accountability Act

This bill requires specified financial agencies to testify in front of and report to appropriate congressional committees semi-annually. Specifically, the Federal Reserve Board, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the National Credit Union Administration must testify and report regarding the efforts, activities, objectives, and plans with respect to the conduct of supervision and regulation for entities under their supervision.

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Current Status of Bill HR 3555

Bill HR 3555 is currently in the status of Bill Introduced since May 22, 2023. Bill HR 3555 was introduced during Congress 118 and was introduced to the House on May 22, 2023. Bill HR 3555's most recent activity was Referred to the House Committee on Financial Services. as of May 22, 2023

Bipartisan Support of Bill HR 3555

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 3555

Primary Policy Focus

Finance and Financial Sector

Alternate Title(s) of Bill HR 3555

Banking Regulator Accountability ActBanking Regulator Accountability ActTo enhance the reporting and testimony requirements for Federal banking agencies.

Start holding our government accountable!

Comments

Sponsors and Cosponsors of HR 3555

Monica De La Cruz

Texas(Republican)

Andy Barr

Kentucky(Republican)

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