Requires the Government Accountability Office (Comptroller General) and the relevant federal banking regulator to review any bank failure that relied on the systemic risk exception and report findings to Congress on set timelines. Reports must disclose supervisory materials and analyses of causes, mismanagement, and regulatory shortcomings, recommend corrective actions, and be published to the fullest extent possible while protecting privileged or FOIA-exempt material.

Sets short deadlines for initial and follow-up reports (Comptroller General: 60 and 180 days; banking agency: 90 and 210 days), allows limited deadline extensions or consolidated reporting in exceptional cases, and requires agencies to consult congressional committee leaders before withholding protected materials.