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FDIC Board Changes: Enhanced Accountability and Banking Experience

This act revises the membership requirements for the Federal Deposit Insurance Corporation (FDIC) Board of Directors, aiming to enhance accountability and ensure more banking supervisory experience. Citizens can expect decisions regarding the safety of their deposits to be made by individuals with relevant qualifications and limited terms, which should strengthen the banking system's stability.
Key points
Four FDIC board members must be appointed by the President, with one required to have State bank supervisory experience and another with primary experience in or supervising depository institutions under $10 billion in assets.
The Director of the Bureau of Consumer Financial Protection will serve as a non-voting observer on the FDIC Board, potentially impacting transparency and coordination.
Term limits are introduced, allowing no more than two terms and a maximum of twelve years of total service for FDIC board members, preventing prolonged tenure.
article Official text account_balance Process page
Placed on Calendar
Citizen Poll
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Additional Information
Print number: 119_HR_3446
Sponsor: Rep. Huizenga, Bill [R-MI-4]
Process start date: 2025-05-15
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

FDIC Board Accountability Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_3446.

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 2025-05-15.

What are the main provisions?

Key points include:

  • Four FDIC board members must be appointed by the President, with one required to have State bank supervisory experience and another with primary experience in or supervising depository institutions under $10 billion in assets.
  • The Director of the Bureau of Consumer Financial Protection will serve as a non-voting observer on the FDIC Board, potentially impacting transparency and coordination.
  • Term limits are introduced, allowing no more than two terms and a maximum of twelve years of total service for FDIC board members, preventing prolonged tenure.
What is the specific legal status?

The current status is Placed on Calendar.

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. Huizenga, Bill [R-MI-4].

What is the latest detailed status?

The latest detailed status is: Placed on the Union Calendar, Calendar No. 201.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-22.

CATEGORIES

Economy