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Financial Guidance Review: Increased Transparency and Agency Oversight

This act mandates key financial agencies, like the Federal Reserve and FDIC, to annually review their issued guidance. If guidance has a significant economic impact (over $100 million annually), agencies must revoke it and publicly announce the revocation. This aims to increase transparency and reduce regulatory burdens, potentially affecting financial stability and banking service costs.
Key points
Financial agencies, including central banks and credit supervisors, will annually review their guidance.
Guidance with an annual economic effect exceeding $100 million will be revoked.
Information on revoked guidance will be publicly available, increasing agency transparency.
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Expired
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Additional Information
Print number: 117_HR_4232
Sponsor: Rep. Mooney, Alexander X. [R-WV-2]
Process start date: 2021-06-29
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Financial Guidance Review Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_4232.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-06-29.

What are the main provisions?

Key points include:

  • Financial agencies, including central banks and credit supervisors, will annually review their guidance.
  • Guidance with an annual economic effect exceeding $100 million will be revoked.
  • Information on revoked guidance will be publicly available, increasing agency transparency.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Mooney, Alexander X. [R-WV-2].

What is the latest detailed status?

The latest detailed status is: Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Economy