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Amends paragraph (12) of section 10 of the Federal Reserve Act by inserting additional text at the end of the paragraph to require biannual congressional testimony regarding interactions with global financial regulatory or supervisory forums.
Amends the seventh undesignated paragraph of section 10 of the Federal Reserve Act (12 U.S.C. 247) to modify the Board's annual report requirement by adding a new subparagraph requiring detailed disclosure of the Board's interactions with global financial regulatory or supervisory forums and defining that term.
Revises section 333 of the Revised Statutes (codified at 12 U.S.C. 14) to expand the Comptroller's annual report requirement to include detailed disclosure of the Comptroller's interactions with global financial regulatory or supervisory forums and defines that term.
Redesignates the first section 333 (relating to data standards) as section 332 and moves it so it appears after section 331; updates the table of contents entry for the redesignated section.
Amends section 17(a) of the Federal Deposit Insurance Act (12 U.S.C. 1827(a)) by replacing paragraph (3) to require the Corporation's annual report to include detailed disclosure of the Corporation's interactions with global financial regulatory or supervisory forums and adding a definition of that term.
Requires the Federal Reserve Board, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation to disclose detailed information about their participation in global financial regulatory or supervisory forums. Agencies must include membership lists, funding and organizational arrangements, positions taken, meeting summaries, and final policy texts or public sources in their annual reports to Congress, and the Federal Reserve must also give biannual testimony to Congress about these interactions.
Annual reports must include a list of the global financial regulatory or supervisory forums in which the reporting agency maintained membership during the period covered by the report.
For each forum listed, the report must include a description of the general purposes of the forum and a list of the forum’s current members and observers.
For each forum listed, the report must discuss how the forum’s general purposes align with the purposes of the Acts the reporting agency implements.
For each forum listed, the report must identify the sources that provided a material amount of funding for the forum’s operations during the period covered by the report.
For each forum listed, the report must describe the organization the reporting agency maintained to conduct interactions with the forum, including an organizational chart and identification of official staff with oversight responsibility.
Primary direct effects fall on the three federal banking agencies named: the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation. These agencies must gather and publish more detailed records about their membership in, funding of, and positions at global financial regulatory and supervisory forums; they must also prepare for biannual testimony by the Federal Reserve. That creates an administrative workload (staff time for record collection, legal review, drafting, and public posting). Congress gains clearer, regular visibility into how U.S. banking regulators engage in international rulemaking and standard-setting, which can inform oversight and potential legislative action.
Banks and other financial institutions are affected indirectly: increased transparency may highlight where global standards or guidance are developed and how U.S. agencies influence them. The bill does not itself change supervisory rules or impose new requirements on banks. The public and market participants may benefit from improved access to the decisions and rationales emerging from international forums. Because no funding or penalties are specified, agencies must meet the requirements within existing budgets and reporting processes, producing modest internal resource reallocation rather than new funding needs. Overall, the law is a transparency and oversight measure rather than a regulatory or spending change.
Referred to the House Committee on Financial Services.
Introduced December 10, 2025 by Barry D. Loudermilk · Last progress December 10, 2025
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Placed on the Union Calendar, Calendar No. 454.
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-529.
Ordered to be Reported (Amended) by the Yeas and Nays: 29 - 23.
Committee Consideration and Mark-up Session Held