[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3682 Reported in House (RH)]

<DOC>





                                                 Union Calendar No. 316
119th CONGRESS
  1st Session
                                H. R. 3682

                          [Report No. 119-364]

 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

  Mr. Foster (for himself and Mr. Huizenga) introduced the following 
    bill; which was referred to the Committee on Financial Services

                            November 4, 2025

    Additional sponsors: Mr. Gottheimer, Mrs. Kim, Mr. Sherman, Ms. 
Pettersen, Mr. Torres of New York, Mr. Lucas, Mr. Meuser, Mr. Cleaver, 
 Ms. Houlahan, Mr. David Scott of Georgia, Mr. Schneider, Mr. Vicente 
Gonzalez of Texas, Mrs. Wagner, Ms. Bynum, Mr. Downing, Ms. De La Cruz, 
              Mr. Lawler, Mr. Himes, and Mr. Nunn of Iowa

                            November 4, 2025

  Reported with an amendment, committed to the Committee of the Whole 
       House on the State of the Union, and ordered to be printed
 [Strike out all after the enacting clause and insert the part printed 
                               in italic]
[For text of introduced bill, see copy of bill as introduced on June 3, 
                                 2025]


_______________________________________________________________________

                                 A BILL


 
 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.


 


    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 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 (12 U.S.C. 5323) 
is amended--
            (1) in subsection (a)--
                    (A) in paragraph (1), by striking ``The Council'' 
                and inserting ``Subject to paragraph (3), the 
                Council''; and
                    (B) by adding at the end the following:
            ``(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 material financial 
        distress at the company, or the nature, scope, size, scale, 
        concentration, interconnectedness, or mix of the activities of 
        the company, could pose to the financial stability of the 
        United States.''; and
            (2) in subsection (f)(1), by striking ``subsection (e)'' 
        and inserting ``subsections (a)(3) and (e)''.
                                                 Union Calendar No. 316

119th CONGRESS

  1st Session

                               H. R. 3682

                          [Report No. 119-364]

_______________________________________________________________________

                                 A BILL

 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.

_______________________________________________________________________

                            November 4, 2025

  Reported with an amendment, committed to the Committee of the Whole 
       House on the State of the Union, and ordered to be printed