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

• H.R. 3682
  • SEC. 1. Short title
  • SEC. 2. Financial Stability Oversight Council

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 inserting Subject 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.
    • by adding at the end the following:
  • in subsection (f)(1), by striking subsection (e)and inserting subsections (a)(3) and (e).