H.R. 3682
119th CONGRESS 1st Session
To amend the Financial Stability Act of 2010 to require the Financial Stability Oversight Council to consider alternative approaches before determining that a U.S. nonbank financial company shall be supervised by the Board of Governors of the Federal Reserve System, and for other purposes.
IN THE HOUSE OF REPRESENTATIVES · June 3, 2025 · Sponsor: Mr. Foster · Committee: Committee on Financial Services
Table of contents
SEC. 1. Short title
- This Act may be cited as the Financial Stability Oversight Council Improvement Act of 2025.
SEC. 2. Financial Stability Oversight Council
- Section 113 of the Financial Stability Act of 2010 () is amended— 12 U.S.C. 5323
- in subsection (a)—
- in paragraph (1), by striking
The Counciland insertingSubject to paragraph (3), the Council; and- (3) Initial determination
- The Council may not vote on a proposed determination with respect to a U.S. nonbank financial company under paragraph (1) unless the Council first determines, in consultation with the company and the primary financial regulatory agency with respect to the company, that a different action by the Council or the agency (including the application of new or heightened standards and safeguards under section 120), or by the company under a written plan that is submitted promptly to the Council, is impracticable or insufficient to mitigate the threat that the company could pose to the financial stability of the United States.
- (3) Initial determination
- by adding at the end the following:
- in paragraph (1), by striking
- in subsection (f)(1), by striking
subsection (e)and insertingsubsections (a)(3) and (e).
- in subsection (a)—