A bill to amend the Financial Stability Act of 2010 to require the Financial Stability Oversight Council to consider alternative approaches before determining that a U.S. nonbank financial company shall be supervised by the Board of Governors of the Federal Reserve System, and for other purposes.

12/19/2025, 11:56 AM

Summary of Bill S 3578

The bill, designated as S. 3578 in the 119th Congress introduced on December 18, 2025, aims to amend the Financial Stability Act of 2010. The key focus is to mandate the Financial Stability Oversight Council to evaluate alternative methods before concluding that a U.S. nonbank financial company must be overseen by the Board of Governors of the Federal Reserve System, along with other specified objectives outlined in the bill.

Congressional Summary of S 3578

Financial Stability Oversight Council Improvement Act of 2025

This bill requires the Financial Stability Oversight Council, prior to determining that a U.S. nonbank financial company shall be supervised by the Federal Reserve Board and therefore subject to certain prudential standards, to first determine that certain alternative actions would not mitigate the threat the company may pose to U.S. financial stability.

Current Status of Bill S 3578

Bill S 3578 is currently in the status of Bill Introduced since December 18, 2025. Bill S 3578 was introduced during Congress 119 and was introduced to the Senate on December 18, 2025. Bill S 3578's most recent activity was Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. as of December 18, 2025

Bipartisan Support of Bill S 3578

Total Number of Sponsors

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Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

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Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 3578

Primary Policy Focus

Alternate Title(s) of Bill S 3578

A bill to amend the Financial Stability Act of 2010 to require the Financial Stability Oversight Council to consider alternative approaches before determining that a U.S. nonbank financial company shall be supervised by the Board of Governors of the Federal Reserve System, and for other purposes.