H.R. 974 — Introduced in House

I 116th CONGRESS 1st Session H. R. 974 IN THE HOUSE OF REPRESENTATIVES February 5, 2019Mr. 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..