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Titles (2)

Short Titles

Short Titles - House of Representatives

Short Titles as Introduced

FSOC Transparency and Accountability Act

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

To amend the Financial Stability Act of 2010 to require the Financial Stability Oversight Council to hold open meetings and comply with the requirements of the Federal Advisory Committee Act, to provide additional improvements to the Council, and for other purposes.


Actions Overview (1)

Date
04/03/2014Introduced in House

All Actions (5)

Date
06/20/2014Ordered to be Reported (Amended) by the Yeas and Nays: 32 - 27.
Action By: Committee on Financial Services
06/20/2014Committee Consideration and Mark-up Session Held.
Action By: Committee on Financial Services
05/20/2014Committee Hearings Held.
Action By: Committee on Financial Services
04/03/2014Referred to the House Committee on Financial Services.
Action By: House of Representatives
04/03/2014Introduced in House
Action By: House of Representatives

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Reports
House Financial Services04/03/2014 Referred to
05/20/2014 Hearings by
06/20/2014 Markup by

No related bill information was received for H.R.4387.


Latest Summary (1)

There is one summary for H.R.4387. View summaries

Shown Here:
Introduced in House (04/03/2014)

FSOC Transparency and Accountability Act - Amends the Financial Stability Act of 2010 to repeal the nonapplicability of the Federal Advisory Committee Act (FACA) to the Financial Stability Oversight Council (thus applying FACA to the Council).

Declares the Council an agency for purposes of the "Government in the Sunshine Act" (and its open meeting requirements).

Revises the voting profile of Council members to single out the following member agencies as each having collectively one vote: (1) the Board of Governors of the Federal Reserve System, (2) the Securities and Exchange Commission (SEC), (3) the Federal Deposit Insurance Corporation (FDIC), (4) the Commodity Futures Trading Commission (CFTC), and (5) the National Credit Union Administration (NCUA) Board.

Directs such member agencies to: (1) determine their Council vote by using the voting process normally applicable to votes by their members, and (2) cast the one collective Council vote by the agency head.

Permits any Council member to select to have one or more individuals on the member's staff attend a meeting of the Council, including any meeting of representatives of the member agencies other than the members themselves.

Requires all Council meetings to be open to attendance and participation by members of specified congressional committees, including any meeting of representatives of the member agencies other than the members themselves.