Federal Reserve Supervision Testimony Clarification Act

Bill: 115-hr-4753
Sponsor: full_name: Rep. Lucas, Frank D. [R-OK-3]
Introduced: 2018-01-10
Policy area: Finance and Financial Sector
Subjects: Congressional oversight

Evidence and witnesses

Federal Reserve System

Government information and archives
Latest action: action_date: 2018-09-27
text: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Summaries:
action_date: 2018-01-10
action_desc: Introduced in House
text: <p><b>Federal Reserve Supervision Testimony Clarification Act </b></p> <p>This bill amends the Federal Reserve Act to require the Vice Chairman for Supervision of the Federal Reserve Board to provide a written testimony on the status of pending and anticipated board rulemakings.&nbsp;If such position is vacant, another specified representative of the board must testify. </p>

action_date: 2018-09-26
action_desc: Passed House amended
text: <p><b>Federal Reserve Supervision Testimony Clarification Act </b></p> <p>(Sec. 2) This bill amends the Federal Reserve Act to require the Vice Chairman for Supervision of the Federal Reserve Board to provide a written testimony on board efforts regarding the supervision of certain financial institutions.&nbsp;If such position is vacant, another specified representative of the board must testify. </p>

tv_txt: I 115th CONGRESS 2d Session H. R. 4753 IN THE HOUSE OF REPRESENTATIVES January 10, 2018 Mr. Lucas introduced the following bill; which was referred to the Committee on Financial Services A BILL To amend the Federal Reserve Act to require the Vice Chairman for Supervision of the Board of Governors of the Federal Reserve System to provide a written report, and for other purposes.

1. Short title This Act may be cited as the Federal Reserve Supervision Testimony Clarification Act . 2. Vice Chairman for Supervision report requirement Paragraph (12) of section 10 of the Federal Reserve Act ( 12 U.S.C. 247(b) ) is amended— (1) by redesignating such paragraph as paragraph (11); and (2) in such paragraph, by adding at the end the following: In each such appearance, the Vice Chairman for Supervision shall provide written testimony that includes the status of all pending and anticipated rulemakings that are being made by the Board of Governors of the Federal Reserve System. If, at the time of any appearance described in this paragraph, the position of Vice Chairman for Supervision is vacant, the Vice Chairman for the Board of Governors of the Federal Reserve System (who has the responsibility to serve in the absence of the Chairman) shall appear instead and provide the required written testimony. If, at the time of any appearance described in this paragraph, both Vice Chairman positions are vacant, the Chairman of the Board of Governors of the Federal Reserve System shall appear instead and provide the required written testimony. .

tv_txt: I 115th CONGRESS 2d Session H. R. 4753 IN THE HOUSE OF REPRESENTATIVES AN ACT To amend the Federal Reserve Act to require the Vice Chairman for Supervision of the Board of Governors of the Federal Reserve System to provide a written report, and for other purposes.

1. Short title This Act may be cited as the Federal Reserve Supervision Testimony Clarification Act . 2. Vice Chairman for Supervision report requirement Paragraph (12) of section 10 of the Federal Reserve Act ( 12 U.S.C. 247b ) is amended— (1) by redesignating such paragraph as paragraph (11); and (2) in such paragraph— (A) by striking shall appear and inserting shall provide written testimony and appear ; and (B) by adding at the end the following: If, at the time of any appearance described in this paragraph, the position of Vice Chairman for Supervision is vacant, the Chairman or their designee shall appear instead and provide the required written testimony. .

Passed the House of Representatives September 26, 2018. Karen L. Haas, Clerk.

tv_txt: IB Union Calendar No. 765 115th CONGRESS 2d Session H. R. 4753 [Report No. 115–980] IN THE HOUSE OF REPRESENTATIVES January 10, 2018 Mr. Lucas introduced the following bill; which was referred to the Committee on Financial Services September 26, 2018 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 January 10, 2018 A BILL To amend the Federal Reserve Act to require the Vice Chairman for Supervision of the Board of Governors of the Federal Reserve System to provide a written report, and for other purposes.

1. Short title This Act may be cited as the Federal Reserve Supervision Testimony Clarification Act . 2. Vice Chairman for Supervision report requirement Paragraph (12) of section 10 of the Federal Reserve Act ( 12 U.S.C. 247b ) is amended— (1) by redesignating such paragraph as paragraph (11); and (2) in such paragraph— (A) by striking shall appear and inserting shall provide written testimony and appear ; and (B) by adding at the end the following: If, at the time of any appearance described in this paragraph, the position of Vice Chairman for Supervision is vacant, the Chairman or their designee shall appear instead and provide the required written testimony. .

September 26, 2018 Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed

tv_txt: IIB 115th CONGRESS 2d Session H. R. 4753 IN THE SENATE OF THE UNITED STATES September 27, 2018 Received; read twice and referred to the Committee on Banking, Housing, and Urban Affairs AN ACT To amend the Federal Reserve Act to require the Vice Chairman for Supervision of the Board of Governors of the Federal Reserve System to provide a written report, and for other purposes.

1. Short title This Act may be cited as the Federal Reserve Supervision Testimony Clarification Act . 2. Vice Chairman for Supervision report requirement Paragraph (12) of section 10 of the Federal Reserve Act ( 12 U.S.C. 247b ) is amended— (1) by redesignating such paragraph as paragraph (11); and (2) in such paragraph— (A) by striking shall appear and inserting shall provide written testimony and appear ; and (B) by adding at the end the following: If, at the time of any appearance described in this paragraph, the position of Vice Chairman for Supervision is vacant, the Chairman or their designee shall appear instead and provide the required written testimony. .

Passed the House of Representatives September 26, 2018. Karen L. Haas, Clerk.