I 
111TH CONGRESS 
1ST SESSION H. R. 2727 
To provide for the implementation of a system under which each financial 
institution will report on the financial condition of the institution to 
the public, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
JUNE 4, 2009 
Mr. JONES introduced the following bill; which was referred to the Committee 
on Financial Services, and in addition to the Committee on Agriculture, 
for a period to be subsequently determined by the Speaker, in each case 
for consideration of such provisions as fall within the jurisdiction of the 
committee concerned 
A BILL 
To provide for the implementation of a system under which 
each financial institution will report on the financial con-
dition of the institution to the public, and for other 
purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Financial Trans-
parency Restoration Act’’. 
SEC. 2. FINDINGS. 
The Congress finds as follows: 
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(1) For approximately 70 years, national banks 
were required by an Act of Congress to publish 
statements of condition in newspapers where they 
‘‘did business’’. 
(2) In 1994, this requirement was repealed by 
an Act of Congress with no public hearing or expla-
nation. 
(3) The public ought to have access to the 
statements of financial condition of all financial in-
stitutions. 
SEC. 3. RESTORATION OF FINANCIAL TRANSPARENCY. 
(a) DEFINITIONS.—For purposes of this Act, the fol-
lowing definitions shall apply: 
(1) FEDERAL FUNCTIONAL REGULATOR.—The 
term ‘‘Federal functional regulator’’ has the same 
meaning as in section 509(2) of the Gramm-Leach- 
Bliley Act, except that such term includes— 
(A) the Commodity Futures Trading Com-
mission, with regard to any person or entity de-
scribed in section 509(3)(B) of such Act; and 
(B) the Board of Governors of the Federal 
Reserve System, with regard to any financial 
institution which does not otherwise have a 
Federal functional regulator under section 
509(2) of such Act. 
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(2) FINANCIAL
INSTITUTION.—The term ‘‘fi-
nancial institution’’ has the same meaning as in sec-
tion 509(3) of the Gramm-Leach-Bliley Act, without 
regard to any exclusions under any subparagraph of 
such section. 
(b) PUBLICATION OF A STATEMENT OF CONDITION 
REQUIRED.—Within 30 days after the end of each fiscal 
quarter of any financial institution, the financial institu-
tion shall publish a statement of financial condition of the 
financial institution in a newspaper of general paid cir-
culation published in a city or county within each market 
area in which the financial institution is located, or if no 
newspaper of general paid circulation is published in such 
city or county, then the newspaper of general paid circula-
tion published nearest such city or county. 
(c) OATH OR AFFIRMATION OF PRESIDENT OR DES-
IGNATED OFFICER.—Each publication by a financial insti-
tution of a statement of financial condition in accordance 
with subsection (b) shall include a written verification of 
the accuracy of the statement, under oath or by affirma-
tion, by the president of the financial institution or an-
other officer designated by the board of directors of such 
institution. 
(d) FORM.—In accordance with the joint regulations 
prescribed under subsection (e), the Federal functional 
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regulator for any type of financial institution shall pre-
scribe the form and content of the statement of financial 
condition for such type of institution. 
(e) REGULATIONS.—The Federal functional regu-
lators shall jointly prescribe regulations appropriate to 
carry out the requirements of this section and ensure com-
pliance with such requirements. 
(f) EFFECTIVE DATE.—This section shall apply so as 
to require each financial institution to publish a written 
statement of financial condition after the end of each fiscal 
quarter of the institution that begins not less than 30 days 
after the date of the enactment of this Act. 
Æ 
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