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Increased Transparency After Bank Failures: New Reports and Oversight

This act increases transparency regarding authorities' actions after a major bank failure that could threaten the entire financial system. Citizens will gain better insight into the causes of bank failures, actions taken by regulators, and potential management errors. This aims to increase trust in the banking system and better protect public interests.
Key points
Independent Reports: The Government Accountability Office (GAO) will be required to regularly report to Congress on the causes of bank failures and actions taken, including the impact on customers and other banks.
Banking Agency Reports: Federal banking agencies will need to disclose detailed information about examinations, issues, and errors that led to a bank's failure, while protecting personal data.
Increased Accountability: The act aims to enhance accountability for bank management and regulators, potentially contributing to a more stable financial system and better protection of citizens' savings.
article Official text account_balance Process page
Passed House
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_3716
Sponsor: Rep. Green, Al [D-TX-9]
Process start date: 2025-06-04
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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

Systemic Risk Authority Transparency Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_3716.

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 2025-06-04.

What are the main provisions?

Key points include:

  • Independent Reports: The Government Accountability Office (GAO) will be required to regularly report to Congress on the causes of bank failures and actions taken, including the impact on customers and other banks.
  • Banking Agency Reports: Federal banking agencies will need to disclose detailed information about examinations, issues, and errors that led to a bank's failure, while protecting personal data.
  • Increased Accountability: The act aims to enhance accountability for bank management and regulators, potentially contributing to a more stable financial system and better protection of citizens' savings.
What is the specific legal status?

The current status is Passed House.

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. Green, Al [D-TX-9].

What is the latest detailed status?

The latest detailed status is: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H4947)

Is this summary verified?

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

CATEGORIES

Economy Courts and Law