I 
118TH CONGRESS 
1ST SESSION H. R. 3555 
To enhance the reporting and testimony requirements for Federal banking 
agencies. 
IN THE HOUSE OF REPRESENTATIVES 
MAY 22, 2023 
Ms. DE LA CRUZ (for herself and Mr. BARR) introduced the following bill; 
which was referred to the Committee on Financial Services 
A BILL 
To enhance the reporting and testimony requirements for 
Federal banking agencies. 
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 ‘‘Banking Regulator Ac-
countability Act’’. 
SEC. 2. REPORTS AND TESTIMONY TO CONGRESS ON SU-
PERVISION. 
(a) TESTIMONY
AND REPORTS
TO CONGRESS
ON 
FEDERAL RESERVE SYSTEM SUPERVISION.—Section 2B 
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of the Federal Reserve Act (12 U.S.C. 225b) is amended 
by adding at the end the following: 
‘‘(d) SEMI-ANNUAL TESTIMONY
AND REPORT
TO 
CONGRESS ON SUPERVISION.— 
‘‘(1) IN GENERAL.—The Vice Chairman for Su-
pervision shall submit a semi-annual report to the 
Committee on Banking, Housing, and Urban Affairs 
of the Senate and the Committee on Financial Serv-
ices of the House of Representatives regarding the 
efforts, activities, objectives, and plans of the Board 
with respect to the conduct of supervision and regu-
lation of depository institution holding companies 
and other financial firms supervised by the Board. 
‘‘(2) MINIMUM
CONTENTS.—At a minimum, 
each report under paragraph (1) shall include— 
‘‘(A) conditions of financial firms, includ-
ing examination or inspection ratings, on an ag-
gregate basis by firm asset size; 
‘‘(B) granular data on outstanding mate-
rial supervisory determinations by type of deter-
mination, including the types of risks covered, 
on an aggregate basis by firm asset size; 
‘‘(C) changes in the number and types of 
outstanding material supervisory determinations 
over the previous 5 years; 
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(b) TESTIMONY AND REPORTS TO CONGRESS ON 
FEDERAL DEPOSIT INSURANCE CORPORATION SUPER-
VISION.—Section 17 of the Federal Deposit Insurance Act 
(12 U.S.C. 1827) is amended by adding at the end the 
following: 
‘‘(h) SEMI-ANNUAL TESTIMONY
AND REPORT
TO 
CONGRESS ON SUPERVISION.— 
‘‘(1) APPEARANCES BEFORE CONGRESS.—The 
Chairman of the Corporation shall appear before the 
Committee on Banking, Housing, and Urban Affairs 
of the Senate and the Committee on Financial Serv-
ices of the House of Representatives at semi-annual 
hearings regarding the efforts, activities, objectives, 
and plans of the Corporation with respect to the 
conduct of supervision and regulation of depository 
institutions supervised by the Corporation. 
‘‘(2) REPORT TO CONGRESS.— 
‘‘(A) IN GENERAL.—The Chairman of the 
Corporation shall transmit to the Committee on 
Banking, Housing, and Urban Affairs of the 
Senate and the Committee on Financial Serv-
ices of the House of Representatives semi-an-
nual reports regarding the efforts, activities, ob-
jectives, and plans of the Corporation with re-
spect to the conduct of supervision and regula-
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tion of depository institutions supervised by the 
Corporation. 
‘‘(B) MINIMUM
CONTENTS.—At a min-
imum, each report under subparagraph (A) 
shall include— 
‘‘(i) conditions of depository institu-
tions, including examination or inspection 
ratings, on an aggregate basis by institu-
tion asset size; 
‘‘(ii) granular data on outstanding 
material supervisory determinations by 
type of determination, including the types 
of risks covered, on an aggregate basis by 
institution asset size; 
‘‘(iii) changes in the number and 
types of outstanding material supervisory 
determinations over the previous 5 years; 
‘‘(iv) aggregate data on the ratings of 
depository institutions over the previous 3 
years; 
‘‘(v) the number of informal and for-
mal enforcement actions, by type of en-
forcement order and showing changes in 
the last 3 years, against supervised deposi-
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tory institutions on an aggregate basis by 
institution asset size; and 
‘‘(vi) a description of the organization 
of the supervisory functions of the Cor-
poration with respect to depository institu-
tions, including information on roles, re-
sponsibilities, accountability, and talent 
management. 
‘‘(C) CONFIDENTIAL REPORT.—Concurrent 
with each report under subparagraph (A), the 
Chairman of the Corporation shall submit a 
confidential report to the chair and ranking 
member of each committee described under sub-
paragraph (A) identifying— 
‘‘(i) each supervised depository insti-
tution with less than satisfactory examina-
tion or inspection ratings; and 
‘‘(ii) each supervised depository insti-
tution with an active formal or informal 
enforcement action, and the status of each 
provision of each enforcement action.’’. 
(c) TESTIMONY
AND REPORTS
TO CONGRESS
ON 
COMPTROLLER OF THE CURRENCY SUPERVISION.—The 
second section 333 of the Revised Statutes of the United 
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States (12 U.S.C. 14; relating to the annual report) is 
amended— 
(1) by striking ‘‘The Comptroller’’ and inserting 
the following: 
‘‘(a) ANNUAL REPORT.—The Comptroller’’; and 
(2) by adding at the end the following: 
‘‘(b) SEMI-ANNUAL TESTIMONY
AND REPORT
TO 
CONGRESS ON SUPERVISION.— 
‘‘(1) APPEARANCES BEFORE CONGRESS.—The 
Comptroller of the Currency shall appear before the 
Committee on Banking, Housing, and Urban Affairs 
of the Senate and the Committee on Financial Serv-
ices of the House of Representatives at semi-annual 
hearings regarding the efforts, activities, objectives, 
and plans of the Office of the Comptroller of the 
Currency with respect to the conduct of supervision 
and regulation of national banks and other financial 
firms supervised by the Office of the Comptroller of 
the Currency. 
‘‘(2) REPORT TO CONGRESS.— 
‘‘(A) IN
GENERAL.—The Comptroller of 
the Currency shall transmit to the Committee 
on Banking, Housing, and Urban Affairs of the 
Senate and the Committee on Financial Serv-
ices of the House of Representatives semi-an-
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nual reports regarding the efforts, activities, ob-
jectives, and plans of the Office of the Comp-
troller of the Currency with respect to the con-
duct of supervision and regulation of national 
banks and other financial firms supervised by 
the Office of the Comptroller of the Currency. 
‘‘(B) MINIMUM
CONTENTS.—At a min-
imum, each report under subparagraph (A) 
shall include— 
‘‘(i) conditions of national banks and 
other financial firms, including examina-
tion or inspection ratings, on an aggregate 
basis by asset size; 
‘‘(ii) granular data on outstanding 
material supervisory determinations by 
type of determination, including the types 
of risks covered, on an aggregate basis by 
asset size; 
‘‘(iii) changes in the number and 
types of outstanding material supervisory 
determinations over the previous 5 years; 
‘‘(iv) aggregate data on the ratings of 
national banks and other financial firms 
over the previous 3 years; 
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‘‘(v) the number of informal and for-
mal enforcement actions, by type of en-
forcement order and showing changes in 
the last 3 years, against supervised na-
tional banks and other financial firms on 
an aggregate basis by firm asset size; and 
‘‘(vi) a description of the organization 
of the supervisory functions of the Office 
of the Comptroller of the Currency with re-
spect to national banks and other financial 
firms, including information on roles, re-
sponsibilities, accountability, and talent 
management. 
‘‘(C) CONFIDENTIAL REPORT.—Concurrent 
with each report under subparagraph (A), the 
Comptroller of the Currency shall submit a con-
fidential report to the chair and ranking mem-
ber of each committee described under subpara-
graph (A) identifying— 
‘‘(i) each supervised national bank or 
other financial firms with less than satis-
factory examination or inspection ratings; 
and 
‘‘(ii) each supervised national bank or 
other financial firms with an active formal 
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or informal enforcement action, and the 
status of each provision of each enforce-
ment action.’’. 
(d) TESTIMONY AND REPORTS TO CONGRESS ON NA-
TIONAL
CREDIT
UNION
ADMINISTRATION
SUPER-
VISION.—Section 102 of the Federal Credit Union Act (12 
U.S.C. 1752a) is amended by adding at the end the fol-
lowing: 
‘‘(g) SEMI-ANNUAL TESTIMONY
AND REPORT
TO 
CONGRESS ON SUPERVISION.— 
‘‘(1) APPEARANCES BEFORE CONGRESS.—The 
Chairman of the Board shall appear before the Com-
mittee on Banking, Housing, and Urban Affairs of 
the Senate and the Committee on Financial Services 
of the House of Representatives at semi-annual 
hearings regarding the efforts, activities, objectives, 
and plans of the Administration with respect to the 
conduct of supervision and regulation of credit 
unions supervised by the Administration. 
‘‘(2) REPORT TO CONGRESS.— 
‘‘(A) IN GENERAL.—The Chairman of the 
Board shall transmit to the Committee on 
Banking, Housing, and Urban Affairs of the 
Senate and the Committee on Financial Serv-
ices of the House of Representatives semi-an-
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nual reports regarding the efforts, activities, ob-
jectives, and plans of the Administration with 
respect to the conduct of supervision and regu-
lation of credit unions supervised by the Admin-
istration. 
‘‘(B) MINIMUM
CONTENTS.—At a min-
imum, each report under subparagraph (A) 
shall include— 
‘‘(i) conditions of credit unions, in-
cluding examination or inspection ratings, 
on an aggregate basis by credit union asset 
size; 
‘‘(ii) granular data on outstanding 
material supervisory determinations by 
type of determination, including the types 
of risks covered, on an aggregate basis by 
credit union asset size; 
‘‘(iii) changes in the number and 
types of outstanding material supervisory 
determinations over the previous 5 years; 
‘‘(iv) aggregate data on the ratings of 
credit unions over the previous 3 years; 
‘‘(v) the number of informal and for-
mal enforcement actions, by type of en-
forcement order and showing changes in 
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the last 3 years, against supervised credit 
unions on an aggregate basis by credit 
union asset size; and 
‘‘(vi) a description of the organization 
of the supervisory functions of the Board 
with respect to credit unions, including in-
formation on roles, responsibilities, ac-
countability, and talent management. 
‘‘(C) CONFIDENTIAL REPORT.—Concurrent 
with each report under subparagraph (A), the 
Chairman of the Board shall submit a confiden-
tial report to the chair and ranking member of 
each committee described under subparagraph 
(A) identifying— 
‘‘(i) each supervised credit union with 
less than satisfactory examination or in-
spection ratings; and 
‘‘(ii) each supervised credit union with 
an active formal or informal enforcement 
action, and the status of each provision of 
each enforcement action.’’. 
Æ 
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