HR-859 : Still Just a Bill

Financial Services Conflict of Interest Act

This bill amends the Ethics in Government Act of 1978 and other laws to:

  • expand restrictions on federal government employees' acceptance of compensation from nongovernment sources,
  • generally require certain financial-services regulators to recuse themselves from any official action that would provide a direct and substantial pecuniary benefit for a recent former employer or client,
  • generally prohibit such a regulator from participating in matters that involve an individual or entity with whom the regulator is negotiating future employment,
  • prohibit a federal government employee from participating in a procurement involving a contractor that had recently employed that employee, and
  • expand restrictions on lobbying by certain former financial-services regulators.

Action Timeline

Action DateTypeTextSource
2017-03-02CommitteeReferred to the Subcommittee on Crime, Terrorism, Homeland Security, and Investigations.House committee actions
2017-03-02CommitteeReferred to the Subcommittee on the Constitution and Civil Justice.House committee actions
2017-02-03IntroReferralReferred to the Committee on Oversight and Government Reform, and in addition to the Committees on the Judiciary, and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.House floor actions
2017-02-03IntroReferralReferred to the Committee on Oversight and Government Reform, and in addition to the Committees on the Judiciary, and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.House floor actions
2017-02-03IntroReferralReferred to the Committee on Oversight and Government Reform, and in addition to the Committees on the Judiciary, and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.House floor actions
2017-02-03IntroReferralIntroduced in HouseLibrary of Congress

Sponsor :

Elijah E. Cummings [D] (MD-7)
See Cosponsors

Policy Area :

Government Operations and Politics
Related Subjects
  • Administrative law and regulatory procedures
  • Banking and financial institutions regulation
  • Civil actions and liability
  • Employee benefits and pensions
  • Employee hiring
  • Federal officials
  • Financial services and investments
  • Fraud offenses and financial crimes
  • Government employee pay, benefits, personnel management
  • Government ethics and transparency, public corruption
  • Personnel records
  • Public contracts and procurement
  • Public participation and lobbying
  • Wages and earnings
Related Geographic Entities
Related Organizations
  • Commodity Futures Trading Commission
  • Consumer Financial Protection Bureau
  • Department of the Treasury
  • Federal Deposit Insurance Corporation (FDIC)
  • Federal Housing Finance Agency
  • Federal Reserve System
  • National Credit Union Administration
  • Office of Management and Budget (OMB)
  • Securities and Exchange Commission (SEC)

Related Bills

See Related Bills