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Increased Transparency for US Banking Regulators in Global Standard Setting.

This law mandates key US financial regulators, such as the Federal Reserve and FDIC, to submit annual reports to Congress and the public detailing their involvement in the international Basel Committee on Bank Supervision. The goal is to increase transparency regarding the creation of global banking standards that ultimately affect US financial stability. Citizens gain access to information about new banking rules being considered and their potential impact on American businesses and the economy.
Key points
Requires annual public reports detailing US goals and activities within the international Basel Committee on Bank Supervision.
Reports must include information on banking standards being considered and their potential impact on US businesses and individuals.
Increases Congressional oversight over how international banking rules are adopted in the United States, indirectly safeguarding financial stability.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_S_2655
Sponsor: Sen. Kennedy, John [R-LA]
Process start date: 2023-07-27
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Transparency in Banking Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_2655.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-07-27.

What are the main provisions?

Key points include:

  • Requires annual public reports detailing US goals and activities within the international Basel Committee on Bank Supervision.
  • Reports must include information on banking standards being considered and their potential impact on US businesses and individuals.
  • Increases Congressional oversight over how international banking rules are adopted in the United States, indirectly safeguarding financial stability.
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 Sen. Kennedy, John [R-LA].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Economy