H.R. 4292
Referred to CommitteeFinancial Institution Living Will Improvement Act of 2017
Latest Action
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
2/5/2018 • Senate
Summary
Financial Institution Living Will Improvement Act of 2017
(Sec. 2) This bill amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to establish the frequency with which certain nonbank financial companies and bank holding companies shall be required to submit a "living will" (i.e., the company's plan for rapid and orderly resolution in the event of financial distress or failure) to the Federal Reserve Board (FRB), the Financial Stability Oversight Council, and the Federal Deposit Insurance Corporation (FDIC). Specifically, such companies shall be required to do so once every two years. (Current regulations generally require annual submission of plans.)
The FRB and the FDIC must provide feedback to a company regarding such a plan within six months.
Passed House amended • 1/30/2018
Topics & Subjects
CBO Cost Estimates (1)
Related Federal Spending
Sponsor & Cosponsors (4)
Party Breakdown
Sponsor
Cosponsors (3)
Bill Journey
Originated in the House
Introduced
November 7, 2017
Committee Review
November 15, 2017
Ordered to be Reported (Amended) by the Yeas and Nays: 60 - 0.
Floor Debate
January 29, 2018
Passed Chamber
January 30, 2018
Other Chamber
President
Enacted into Law
Text Versions (4)
Committee Reports (1)
Related Bills (4)
S. 3070
Financial Institution Living Will Improvement Act of 2018
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S. 488
Encouraging Employee Ownership Act
H.R. 10
Financial CHOICE Act of 2017