S. 3070
Referred to CommitteeFinancial Institution Living Will Improvement Act of 2018
Latest Action
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
6/14/2018 • Senate
Summary
Financial Institution Living Will Improvement Act of 2018
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.
Introduced in Senate • 6/14/2018
Topics & Subjects
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Related Federal Spending
Sponsor & Cosponsors (2)
Party Breakdown
Sponsor
Cosponsors (1)
Bill Journey
Originated in the Senate
Introduced
June 14, 2018
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Committee Review
Floor Debate
Passed Chamber
Other Chamber
President
Enacted into Law
Text Versions (1)
Related Bills (5)
H.R. 4292
Financial Institution Living Will Improvement Act of 2017
H.R. 10
Financial CHOICE Act of 2017
H.R. 3280
Financial Services and General Government Appropriations Act, 2018
H.R. 3354
Make America Secure and Prosperous Appropriations Act, 2018
H.R. 6258
Financial Services and General Government Appropriations Act, 2019