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Increased U.S. Oversight of Banking Regulations and International Organizations' Influence.

New rules require U.S. banking agencies to conduct detailed economic analyses and report to Congress on proposed regulatory changes aligned with international organizations' recommendations. This ensures that any changes with a significant economic impact are thoroughly evaluated for costs, credit availability, and employment effects before implementation. Additionally, banking agencies must report on their engagements with international organizations regarding climate-related financial risks.
Key points
Banking agencies must provide Congress with a detailed economic analysis before implementing major rule changes based on international organization recommendations.
The analysis must assess the impact on the U.S. economy, including credit availability, GDP, and employment, if the cost exceeds $10 billion over 10 years.
Banking agencies will be required to report on their meetings with specific international organizations concerning climate-related financial risk.
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Additional Information
Print number: 118_HR_4649
Sponsor: Rep. Loudermilk, Barry [R-GA-11]
Process start date: 2023-07-14
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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

Ensuring U.S. Authority over U.S. Banking Regulations Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_4649.

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 2023-07-14.

What are the main provisions?

Key points include:

  • Banking agencies must provide Congress with a detailed economic analysis before implementing major rule changes based on international organization recommendations.
  • The analysis must assess the impact on the U.S. economy, including credit availability, GDP, and employment, if the cost exceeds $10 billion over 10 years.
  • Banking agencies will be required to report on their meetings with specific international organizations concerning climate-related financial risk.
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. Loudermilk, Barry [R-GA-11].

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 Courts and Law