Financial Institution Living Will Improvement Act of 2017

Hozzl · 2025-04-07T15:21:55Z

Explore the details of House Bill 4292 Financial Institution Living Will Improvement Act of 2017 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Finance and Financial Sector. Stay informed on legislative developments.

4/7/2025, 3:21 PM

Summary of Bill HR 4292

Bill 115 hr 4292, also known as the Financial Institution Living Will Improvement Act of 2017, aims to improve the living will process for financial institutions in order to prevent future financial crises. The bill requires financial institutions to submit living wills, which are detailed plans outlining how the institution would be liquidated in the event of a financial collapse, to the Federal Reserve and the Federal Deposit Insurance Corporation (FDIC) for review.

The bill also requires the Federal Reserve and the FDIC to provide feedback to financial institutions on their living wills, including any deficiencies or areas for improvement. Additionally, the bill requires the Federal Reserve and the FDIC to publicly disclose a summary of the living wills of financial institutions, in order to increase transparency and accountability in the financial sector.

Overall, the Financial Institution Living Will Improvement Act of 2017 aims to strengthen the financial system by ensuring that financial institutions have comprehensive plans in place to prevent future financial crises and protect taxpayers from having to bail out failing institutions.

Current Status of Bill HR 4292

Bill HR 4292 is currently in the status of Bill Introduced since November 7, 2017. Bill HR 4292 was introduced during Congress 115 and was introduced to the House on November 7, 2017. Bill HR 4292's most recent activity was Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. as of February 5, 2018