Sponsors (7)
The bill increases transparency, accountability, and economic safeguards around U.S. participation in global financial rulemaking—benefiting taxpayers, consumers, and markets—but does so at the cost of greater reporting burdens, potential added costs for banks/customers, and reduced diplomatic flexibility that may limit candid international cooperation.
Taxpayers and financial institutions will get clearer public reporting and congressional oversight of how U.S. regulators engage in global financial standard-setting, increasing transparency and accountability for international rulemaking.
Consumers, banks, and taxpayers benefit from required economic impact analyses, cost–benefit justifications, and earlier disclosure of potential forum-driven rules, which help prevent costly or conflicting international standards and reduce regulatory surprises.
Financial institutions and the public gain protections against conflicts of interest because the bill requires identifying forum funding sources and staff responsible, and it directs regulators to check alignment between international work and U.S. law.
State governments, financial institutions, and U.S. negotiators may lose diplomatic flexibility because public disclosure of detailed positions, meeting summaries, and staff names can hinder candid international negotiations and strain relationships with foreign counterparts.
Federal agencies and bank compliance teams will need to spend additional staff time preparing more detailed reports and economic justifications, diverting resources away from domestic supervision, enforcement, and monetary-policy tasks.
Banks may face higher compliance and reporting costs from the new requirements, costs that could be indirectly passed on to customers and taxpayers.
Based on analysis of 3 sections of legislative text.
Requires the Federal Reserve Board, the Office of the Comptroller of the Currency (OCC), and the Federal Deposit Insurance Corporation (FDIC) to include detailed disclosures in their statutorily required annual reports about their membership, activities, positions, funding, and implementation plans related to specified global financial regulatory or supervisory forums. It also expands the Federal Reserve’s existing biannual congressional testimony requirement to explicitly cover the conduct of interactions at those global forums. The measure lists five named international forums covered, excludes certain international financial institutions and treaty-based organizations, and mandates extensive elements in each agency’s report (e.g., purposes and membership of each forum, staff responsible, meeting summaries, positions taken, final texts, and economic impact analyses of implementation). It does not provide extra funding or change the existing biannual testimony schedule beyond adding this topic to the Fed’s testimony responsibilities.
Introduced December 10, 2025 by Barry D. Loudermilk · Last progress December 10, 2025