Financial Stability Oversight Council Reform Act
This bill amends the Financial Stability Act of 2010 to make the budgets of the Financial Stability Oversight Council (FSOC) and the Office of Financial Research (OFR) subject to the annual appropriations process and to establish requirements for reports and a public notice and comment period.
The budgets of the FSOC and the OFR are funded by assessments on financial institutions which are deposited into the Financial Research Fund and, under current law, are immediately available to be spent. This bill requires the funding from the Financial Research Fund to be made available by appropriations Acts.
The bill also requires the OFR to: (1) submit quarterly reports to Congress regarding its activities; and (2) provide a public notice and comment period of at least 90 days before issuing any report, rule, or regulation.
| Action Date | Type | Text | Source |
|---|---|---|---|
| 2016-04-18 | IntroReferral | Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | Senate |
| 2016-04-14 | Floor | Motion to reconsider laid on the table Agreed to without objection. | House floor actions |
| 2016-04-14 | Vote | On passage Passed by the Yeas and Nays: 239 - 179 (Roll no. 146). (text: CR H1699) | House floor actions |
| 2016-04-14 | Vote | On motion to table the appeal of the ruling of the Chair Agreed to by the Yeas and Nays: 239 - 176 (Roll No. 145). | House floor actions |
| 2016-04-14 | ResolvingDifferences | Mr. Hensarling moved to table the motion to appeal the ruling of the chair (consideration: CR H1709) | House floor actions |
| 2016-04-14 | Floor | Ms. Moore appealed the ruling of the chair. The question was then put on sustaining the ruling of the chair. | House floor actions |
| 2016-04-14 | ResolvingDifferences | Mr. Hensarling raised a point of order against the motion to recommit with instructions. Mr. Hensarling stated that the amendment contained provisions not germane to the bill. Sustained by the Chair. (consideration: CR H1708) | House floor actions |
| 2016-04-14 | Floor | DEBATE - The House proceeded with 10 minutes of debate on the Moore motion to recommit with instructions, pending reservation of a point of order. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment providing for consideration of H. Con. Res. 125, establishing the congressional budget for the United States Government for FY 2017. | House floor actions |
| 2016-04-14 | Floor | Ms. Moore moved to recommit with instructions to the Committee on Financial Services. (consideration: CR H1708; text: CR H1708) | House floor actions |
| 2016-04-14 | Floor | DEBATE - Pursuant to the provisions of H. Res. 671, the House proceeded with 10 minutes of debate on the Royce Part A amendment No. 1. | House floor actions |
| 2016-04-14 | Floor | DEBATE - The House proceeded with one hour of debate on H.R. 3340, as amended. | House floor actions |
| 2016-04-14 | Floor | The resolution provides for consideration of H.R. 3340 and H.R. 3791. | House floor actions |
| 2016-04-14 | Floor | Considered under the provisions of rule H. Res. 671. (consideration: CR H1699-1710) | House floor actions |
| 2016-04-12 | Floor | Rules Committee Resolution H. Res. 671 Reported to House. Rule provides for consideration of H.R. 3340 and H.R. 3791. The resolution provides for consideration of H.R. 3340 and H.R. 3791. | House floor actions |
| 2016-03-23 | Calendars | Placed on the Union Calendar, Calendar No. 359. | House floor actions |
| 2016-03-23 | Committee | Reported (Amended) by the Committee on Financial Services. H. Rept. 114-473. | House floor actions |
| 2015-11-04 | Committee | Ordered to be Reported (Amended) by the Yeas and Nays: 33 - 24. | House committee actions |
| 2015-11-04 | Committee | Committee Consideration and Mark-up Session Held. | House committee actions |
| 2015-11-03 | Committee | Committee Consideration and Mark-up Session Held. | House committee actions |
| 2015-10-21 | Committee | Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral. | House committee actions |
| 2015-07-29 | IntroReferral | Referred to the House Committee on Financial Services. | House floor actions |
| 2015-07-29 | IntroReferral | Introduced in House | Library of Congress |