0
0
0
Effective Bank Regulation Act
12/15/2023, 3:59 PM
Summary of Bill HR 3992
Bill 118 hr 3992, also known as the Effective Bank Regulation Act, aims to strengthen regulations on banks in the United States. The bill was introduced in the House of Representatives on September 15, 2021.
The main purpose of this bill is to enhance the oversight and regulation of banks to prevent another financial crisis like the one that occurred in 2008. The bill includes provisions that require banks to hold higher levels of capital reserves to protect against potential losses, as well as increased transparency and reporting requirements for banks.
Additionally, the bill seeks to improve consumer protection measures by enhancing the oversight of financial products and services offered by banks. This includes measures to prevent predatory lending practices and ensure that consumers are fully informed about the risks associated with financial products. Overall, the Effective Bank Regulation Act aims to create a more stable and secure banking system in the United States by strengthening regulations and oversight of banks. The bill is currently being reviewed by the House Financial Services Committee for further consideration.
The main purpose of this bill is to enhance the oversight and regulation of banks to prevent another financial crisis like the one that occurred in 2008. The bill includes provisions that require banks to hold higher levels of capital reserves to protect against potential losses, as well as increased transparency and reporting requirements for banks.
Additionally, the bill seeks to improve consumer protection measures by enhancing the oversight of financial products and services offered by banks. This includes measures to prevent predatory lending practices and ensure that consumers are fully informed about the risks associated with financial products. Overall, the Effective Bank Regulation Act aims to create a more stable and secure banking system in the United States by strengthening regulations and oversight of banks. The bill is currently being reviewed by the House Financial Services Committee for further consideration.
Congressional Summary of HR 3992
Effective Bank Regulation Act
This bill requires the Board of Governors of the Federal Reserve System to test additional scenarios during annual stress tests. Specifically, when evaluating whether a nonbank financial company or bank holding company has the capital to absorb losses due to adverse economic conditions, the board must test for three additional scenarios, including scenarios that incorporate interest rate changes.
Read the Full Bill
Current Status of Bill HR 3992
Bill HR 3992 is currently in the status of Bill Introduced since June 9, 2023. Bill HR 3992 was introduced during Congress 118 and was introduced to the House on June 9, 2023. Bill HR 3992's most recent activity was Referred to the House Committee on Financial Services. as of June 9, 2023
Bipartisan Support of Bill HR 3992
Total Number of Sponsors
1Democrat Sponsors
1Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
0Democrat Cosponsors
0Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 3992
Primary Policy Focus
Finance and Financial SectorAlternate Title(s) of Bill HR 3992
Effective Bank Regulation Act
Effective Bank Regulation Act
To amend the Financial Stability Act of 2010 to require stress tests performed pursuant to that Act to evaluate for the increase and decrease of interest rates, and for other purposes.
Comments
Sponsors and Cosponsors of HR 3992
Latest Bills
USMMA Athletics Act of 2026
Bill S 3266August 13, 2026
Space Commerce Advisory Committee Act
Bill S 434August 13, 2026
Diversity Jurisdiction Inflation Adjustment Act
Bill S 4850August 13, 2026
Officer John Barnes and Chief Michael Ansbro Public Safety Officers' Benefit Program Expansion Act of 2026
Bill S 3897August 13, 2026
National Defense Authorization Act for Fiscal Year 2027
Bill S 4784August 13, 2026
Cahokia Mounds Mississippian Culture Study Act
Bill S 1516August 13, 2026
A bill to require the United States Postal Service to designate ZIP Codes for certain communities.
Bill S 4505August 13, 2026
A bill to designate the facility of the United States Postal Service located at 86-014 Farrington Highway in Waianae, Hawaii, as the "United States Representative Colleen Hanabusa Post Office Building".
Bill S 4830August 13, 2026
Continuing Appropriations and Extensions Act, 2027
Bill HR 6500August 13, 2026
A bill to designate the facility of the United States Postal Service located at 201 East Grant Avenue in Georgetown, Ohio, as the "Ulysses S. Grant Post Office Building".
Bill S 4745August 13, 2026