IB 
Union Calendar No. 169 
119TH CONGRESS 
1ST SESSION H. R. 3716 
[Report No. 119–206] 
To amend the Federal Deposit Insurance Act to require reports on the 
use of the systemic risk authority applicable to winding up a failed 
insured depository institution, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
JUNE 4, 2025 
Mr. GREEN of Texas introduced the following bill; which was referred to the 
Committee on Financial Services 
JULY 15, 2025 
Reported with an amendment, committed to the Committee of the Whole 
House on the State of the Union, and ordered to be printed 
[Strike out all after the enacting clause and insert the part printed in italic] 
[For text of introduced bill, see copy of bill as introduced on June 4, 2025] 
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A BILL 
To amend the Federal Deposit Insurance Act to require 
reports on the use of the systemic risk authority applica-
ble to winding up a failed insured depository institution, 
and for other purposes. 
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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 ‘‘Systemic Risk Authority 
Transparency Act’’. 
SEC. 2. BANK FAILURE TRANSPARENCY RELATED TO SYS-
TEMIC RISK EXCEPTION. 
(a) GAO REVIEW.—Section 13(c)(4)(G)(iv) of the Fed-
eral Deposit Insurance Act (12 U.S.C. 1823(c)(4)(G)(iv)) 
is amended to read as follows: 
‘‘(iv) GAO REVIEW.— 
‘‘(I) IN
GENERAL.—The Comp-
troller General of the United States 
shall, not later than 60 days after a 
determination is made under clause 
(i), and again 180 days thereafter, re-
view and report to the Congress on the 
determination under clause (i), includ-
ing— 
‘‘(aa) the basis for the deter-
mination; 
‘‘(bb) the purpose for which 
any action was taken pursuant to 
such clause; 
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‘‘(cc) the likely effect of the 
determination and such action on 
the incentives and conduct of in-
sured depository institutions and 
uninsured depositors; 
‘‘(dd) any mismanagement 
by the executives and board of the 
insured 
depository 
institution 
that contributed to the failure of 
the insured depository institution; 
‘‘(ee) a review of the com-
pensation practices of the insured 
depository institution; 
‘‘(ff) any supervisory or reg-
ulatory shortcomings with respect 
to the appropriate Federal bank-
ing agency of the insured deposi-
tory institution; 
‘‘(gg) any actions taken by 
the Federal banking regulators, 
Financial 
Stability 
Oversight 
Council, Department of the Treas-
ury, and other relevant financial 
regulators in relation to the fail-
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ure of the insured depository in-
stitution; and 
‘‘(hh) any additional rel-
evant entities or activities that 
may have contributed to the fail-
ure of the insured depository in-
stitution, including with respect 
to auditing, accounting, credit 
rating agencies, investment bank 
underwriters, and emergency li-
quidity options such as loans 
from the Federal reserve banks or 
advances 
through 
the 
Federal 
Home Loan Bank system. 
‘‘(II) RULE OF CONSTRUCTION.— 
Nothing in this clause or a report 
issued pursuant to this clause may be 
construed to limit the authority of a 
Federal agency to enforce violations of 
Federal statutes, rules, or orders.’’. 
(b) APPROPRIATE FEDERAL BANKING AGENCY RE-
PORT.—Section 13(c) of the Federal Deposit Insurance Act 
(12 U.S.C. 1823(c)) is amended by adding at the end the 
following: 
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‘‘(12) APPROPRIATE FEDERAL BANKING AGENCY 
REPORT.— 
‘‘(A) IN GENERAL.—The appropriate Fed-
eral banking agency of an insured depository in-
stitution about which a determination is made 
under paragraph (4)(G)(i) shall, not later than 
90 days after the date of such determination, 
and again 210 days thereafter, submit a report 
to the Congress that discloses the following: 
‘‘(i) Subject to such redactions as the 
appropriate Federal banking agency deter-
mines appropriate of personally identifiable 
information about customers and other fi-
nancial institutions (as such term is defined 
under section 11(e)(9)(D)), all— 
‘‘(I) reports of examination and 
inspection that relate to the failed in-
sured depository institution in the pre-
vious 3-year period; 
‘‘(II) formal communications of a 
material 
supervisory 
determination 
conveyed to the failed insured deposi-
tory institution in the previous 3-year 
period; and 
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‘‘(III) any additional exam re-
ports and correspondence that the ap-
propriate Federal banking agency de-
termines may be relevant to the failure 
of the insured depository institution. 
‘‘(ii) An examination of any mis-
management by the executives and board of 
the insured depository institution that con-
tributed to the failure of the insured deposi-
tory institution. 
‘‘(iii) Any supervisory or regulatory 
shortcomings by such appropriate Federal 
banking agency with respect to the insured 
depository institution. 
‘‘(iv) Any dynamics that the appro-
priate Federal banking agency determines 
may have contributed to the failure of the 
insured depository institution. 
‘‘(v) Any supervisory, regulatory, or 
legislative recommendations such appro-
priate Federal banking agency may have to 
improve the safety and soundness of simi-
larly situated insured depository institu-
tions, the banking system, and financial 
stability. 
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‘‘(B) PROTECTION OF SENSITIVE INFORMA-
TION.— 
‘‘(i) EFFECT ON PRIVILEGE.—The pro-
vision of any information by a Federal 
banking agency under this paragraph may 
not be construed as— 
‘‘(I) waiving, destroying, or other-
wise affecting any privilege applicable 
to the information; or 
‘‘(II) waiving any exemption ap-
plicable to the information under sec-
tion 552 of title 5, United States Code 
(commonly known as the ‘Freedom of 
Information Act’). 
‘‘(ii) TRANSPARENCY.— 
‘‘(I) IN
GENERAL.—A Federal 
banking agency shall publish materials 
contained in a report required under 
subparagraph (A) to the fullest extent 
possible to promote transparency. 
‘‘(II) CONSULTATION ON OMITTING 
MATERIALS.—If a Federal banking 
agency determines particular materials 
described under subclause (I) should 
not be published, the Federal banking 
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agency shall consult with the chair and 
ranking member of the Committee on 
Financial Services of the House of 
Representatives and the chair and 
ranking member of the Committee on 
Banking, Housing, and Urban Affairs 
of the Senate. 
‘‘(III) OMITTING MATERIALS.—If, 
after the consultation required under 
subclause (II), the Federal banking 
agency determines there is a substan-
tial public interest in not publishing 
such materials, the Federal banking 
agency shall provide those materials to 
the Committee on Financial Services of 
the House of Representatives and the 
Committee on Banking, Housing, and 
Urban Affairs of the Senate with a 
written explanation describing the rea-
sons for not publishing those materials. 
‘‘(iii) PRIVILEGE.—For purposes of 
this subparagraph, the term ‘privilege’ in-
cludes any work-product, attorney-client, or 
other privilege recognized under Federal or 
State law. 
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‘‘(C) 
REPORT
EXTENSION.—A 
Federal 
banking agency may extend a deadline described 
under subparagraph (A) for an additional 60 
days, if the Federal banking agency— 
‘‘(i) faces ongoing circumstances that 
require the Federal banking agency to 
prioritize activities to promote stability of 
the U.S. banking system; and 
‘‘(ii) notifies the Congress of such ex-
tension and the reasons for such extension. 
‘‘(D) CONSOLIDATED REPORTS.—A Federal 
banking agency may consolidate multiple reports 
required under this paragraph so long as the in-
dividual reports being consolidated all meet the 
timing requirements under this paragraph. 
‘‘(E) RULE OF CONSTRUCTION.—Nothing in 
this paragraph or reports or materials provided 
pursuant to this paragraph may be construed to 
limit the authority of a Federal agency to en-
force violations of Federal statutes, rules, or or-
ders.’’. 
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Union Calendar No. 169 
119TH CONGRESS 
1ST SESSION 
H. R. 3716 
[Report No. 119–206] 
A BILL 
To amend the Federal Deposit Insurance Act to re-
quire reports on the use of the systemic risk au-
thority applicable to winding up a failed insured 
depository institution, and for other purposes. 
JULY 15, 2025 
Reported with an amendment, committed to the Com-
mittee of the Whole House on the State of the Union, 
and ordered to be printed 
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