Federal Reserve Supervision Testimony Clarification Act

Bill: 116-hr-974
Sponsor: full_name: Rep. Gottheimer, Josh [D-NJ-5]
Introduced: 2019-02-05
Policy area: Finance and Financial Sector
Subjects: Congressional oversight

Evidence and witnesses

Federal Reserve System

Government information and archives
Latest action: action_date: 2019-03-12
text: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Summaries:
action_date: 2019-02-05
action_desc: Introduced in House
text: <p><b>Federal Reserve Supervision Testimony Clarification Act </b></p> <p>This bill requires 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>

action_date: 2019-03-11
action_desc: Passed House
text: <p><b>Federal Reserve Supervision Testimony Clarification Act </b></p> <p>This bill requires 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 116th CONGRESS 1st Session H. R. 974 IN THE HOUSE OF REPRESENTATIVES February 5, 2019 Mr. Gottheimer (for himself and 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. 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. .

tv_txt: IIB 116th CONGRESS 1st Session H. R. 974 IN THE SENATE OF THE UNITED STATES March 12, 2019 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. . 3. Determination of Budgetary Effects The budgetary effects of this Act, for the purpose of complying with the Statutory Pay-As-You-Go Act of 2010, shall be determined by reference to the latest statement titled Budgetary Effects of PAYGO Legislation for this Act, submitted for printing in the Congressional Record by the Chairman of the House Budget Committee, provided that such statement has been submitted prior to the vote on passage.

Passed the House of Representatives March 11, 2019. Cheryl L. Johnson, Clerk

tv_txt: I 116th CONGRESS 1st Session H. R. 974 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. . 3. Determination of Budgetary Effects The budgetary effects of this Act, for the purpose of complying with the Statutory Pay-As-You-Go Act of 2010, shall be determined by reference to the latest statement titled Budgetary Effects of PAYGO Legislation for this Act, submitted for printing in the Congressional Record by the Chairman of the House Budget Committee, provided that such statement has been submitted prior to the vote on passage.

Passed the House of Representatives March 11, 2019. Cheryl L. Johnson, Clerk.