Banking Regulator International Reporting Act

Bill 118 hr 4601, also known as the Banking Regulator International Reporting Act, is a piece of legislation introduced in the US Congress. The main purpose of this bill is to require certain banking regulators to report to Congress on their international activities.

Specifically, the bill mandates that the Federal Reserve, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) must submit annual reports to Congress detailing their international activities. This includes information on any agreements or arrangements with foreign regulatory authorities, as well as any international meetings or conferences attended by the regulators.

The goal of this reporting requirement is to increase transparency and accountability in the international activities of these banking regulators. By providing Congress with detailed information on their interactions with foreign entities, the bill aims to ensure that the regulators are acting in the best interests of the American public and the US banking system. Overall, the Banking Regulator International Reporting Act seeks to enhance oversight of the Federal Reserve, FDIC, and OCC in their international engagements, ultimately promoting a more informed and responsible approach to regulating the US banking industry on a global scale.