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Enhanced Banking Oversight: New Reporting Requirements for Regulators

This new law increases Congress's oversight of banking agencies like the Federal Reserve and FDIC. It means these agencies will have to report more frequently and in greater detail on the health of banks and other financial institutions. This gives citizens more assurance that financial institutions are properly controlled, contributing to the stability of the banking system and the security of their savings.
Key points
Banking oversight agencies (e.g., Federal Reserve, FDIC) will be required to submit semi-annual reports and testimony to Congress.
Reports will include detailed data on the financial condition of banks, including examination ratings and enforcement actions taken.
Congress will also receive confidential reports on troubled banks or those under enforcement actions, increasing oversight of the financial sector.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_HR_3555
Sponsor: Rep. De La Cruz, Monica [R-TX-15]
Process start date: 2023-05-22
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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

Banking Regulator Accountability Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_3555.

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 2023-05-22.

What are the main provisions?

Key points include:

  • Banking oversight agencies (e.g., Federal Reserve, FDIC) will be required to submit semi-annual reports and testimony to Congress.
  • Reports will include detailed data on the financial condition of banks, including examination ratings and enforcement actions taken.
  • Congress will also receive confidential reports on troubled banks or those under enforcement actions, increasing oversight of the financial sector.
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. De La Cruz, Monica [R-TX-15].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Economy