Markup of H.R. 1553; H.R. 2622; H.R. 2627; H.R. 3063; H.R. 3556 and H.R. 3564 (EventID=115834)

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Connect with the House Financial Services Committee Get the latest news: https://democrats-financialservices.house.gov/ Follow us on Facebook: https://www.facebook.com/HouseFinancialCmte Follow us on Twitter: https://twitter.com/FSCDems ___________________________________ The full Committee will convene to mark up the following measures, in an order to be determined by the Chairman at 10:00 am E.T. on Wednesday, May 24, 2023, and subsequent days if necessary, in room 2128 of the Rayburn House Office Building. ___________________________________ Legislation: • H.R. 3556, the "Increasing Financial Regulatory Accountability and Transparency Act." • An amendment in the nature of a substitute, no 1, offered by Mr. Barr. • H.R. 3564, the "Middle Class Borrower Protection Act of 2023." • An amendment in the nature of a substitute, no 2, offered by Mr. Davidson. • H.R. 2622, a bill to amend the Investment Advisers Act of 1940 to codify certain Securities and Exchange Commission no-action letters that exclude brokers and dealers compensated for certain research services from the definition of investment adviser, and for other purposes • ​An amendment in the nature of a substitute, no 3, offered by Mr. Sessions. An amendment in the nature of a substitute, no 1, offered by Mr. Barr. • H.R. 1553, the "Helping Angels Lead Our Startups (HALOS) Act." • ​An amendment in the nature of a substitute, no 4, offered by Mr. Lawler. • H.R. 3063, the "Retirement Fairness for Charities and Educational Institutions Act." • ​An amendment in the nature of a substitute, no 5, offered by Mr. Lucas. • H.R. 2627, the "Increasing Investor Opportunities Act." • ​An amendment in the nature of a substitute, no 6, offered by Mrs. Wagner. *** 1. H.R. ____, the Increasing Financial Regulatory Accountability and Transparency Act (Barr) H.R. __, the Increasing Financial Regulatory Accountability and Transparency Act, will be introduced on May 22, 2023, by Representative Andy Barr (R-KY) and has three original cosponsors: Representative Loudermilk (R-X), Representative De La Cruz (R-TX) and Representative Fitzgerald (R-WI). H.R. __ is comprised of the following five separate bills: Title I – H.R. __, the Banking Regulator Accountability Act, which will be introduced on May 22, 2023, by Representative Monica De La Cruz (R-TX). Title I would require the head of each Federal banking agency (FDIC, OCC, NCUA) to testify semi-annually and expand the reporting requirements for each Federal banking agency relating to supervisory activities, including providing confidential reports, before the House Financial Services Committee and Senate Banking Committee. Title II –H.R. __, a bill to enhance FDIC transparency, will be introduced on May 22, 2023, by Representative Andy Barr (R-KY). It has one original cosponsor: Representative Loudermilk (RGA). Title II would enhance and expand reporting requirements for the FDIC’s receivership and resolution activities. Title III – H.R. __, a bill to enhance Federal Reserve transparency, will be introduced on May 22, 2023, by Representative Andy Barr (R-KY). It has one original cosponsor: Representative Loudermilk (R-GA). Title III would enhance the transparency and accountability around the Federal Reserve’s emergency lending authorities when used in “unusual and exigent circumstances” under section 13(3) of the Federal Reserve Act. The bill does not affect monetary policy independence. Title IV – H.R. __, a bill to enhance Financial Stability Oversight Council transparency, will be introduced on May 22, 2023, by Representative Andy Barr (R-KY). It has one original cosponsor, Representative Loudermilk (R-GA). Title IV would enhance transparency surrounding activities of the Financial Stability Oversight Council (FSOC). Title V – H.R.__, the Vice Chair of Supervision Banking Experience Requirement Act, will be introduced on May 22, 2023, by Representative Scott Fitzgerald (R-WI). Title V would require that the Federal Reserve’s Vice Chair for Supervision have experience working in or supervising banking organizations. 2. H.R. ___, the Middle Class Borrower Protection Act of 2023 (Davidson) H.R. __, the Middle Class Borrower Protection Act of 2023, will be introduced by Representative Warren Davidson (R-OH) on May 22, 2023. H.R. __ would repeal the recently enacted Loan Level Pricing Adjustments (LLPA) fee increases and reinstate the LLPA fee structure in effect prior to May 1, 2023. It would also institute a temporary LLPA fee change freeze pending a GAO review. The bill directs GAO to review the process FHFA uses to set LLPA fees, makes future LLPA fee changes subject to a standard notice and comment procedure, requires future conservator-mandated LLPA fee changes to be risk-based, and prohibits the imposition of any new LLPA fees based on the... ___________________________________ Markup page: https://democrats-financialservices.house.gov/events/eventsingle.aspx?EventID=410472