,,ib ,union ,calendar ,no4 #gha #aahth ,,congress #b;d ,session ,h4 ,r4 #ceef ,report ,no4 #aah-gic1 ,part ,i ,,in ,,the ,,house ,,of ,,representatives ,may #bb1 #bjbc,mr4 ,barr 7for himself1 ,mr4 ,loudermilk1 ,mr4 ,fitzgerald1 ,ms4 ,de ,la ,cruz1 and ,mrs4 ,kim of ,california7 introduced the following bill2 which was referred to the ,committee on ,financial ,services1 and in addition to the ,committees on ,oversight and ,accountability1 and ,rules1 for a period to be subsequently determined by the ,speaker1 in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned ,december #d1 #bjbd,reported from the ,committee on ,financial ,services with an amendment,strike out all after the enacting clause and insert the part printed in italic ,december #d1 #bjbd;,committee on ,rules discharged ,december #d1 #bjbd,referral to the ,committee on ,oversight and ,accountability extended for a period ending not later than ,december #ai1 #bjbd ,december #ai1 #bjbd;,committee on ,oversight and ,accountability discharged2 committed to the ,committee of the ,whole ,house on the ,state of the ,union and ordered to be printed,for text of introduced bill1 see copy of bill as introduced on ,may #bb1 #bjbc ,a ,,bill ,to amend the ,federal financial laws to increase financial regulatory accountability and transparency1 and for other purposes4 #a4 ,short title2 table of contents 7a7 ,short title ,this ,act may be cited as the ,increasing ,financial ,regulatory ,accountability and ,transparency ,act4 7b7 ,table of contents ,the table of contents for this ,act is as follows3 ,sec4 #a4 ,short title2 table of contents4,title ,i--,enhancing ,,fdic ,transparency ,sec4 #aja4 ,federal ,deposit ,insurance ,corporation transparency4,title ,,ii--,enhancing ,federal ,reserve ,transparency ,sec4 #bja4 ,federal ,reserve transparency4,title ,,iii--,enhancing ,financial ,stability ,oversight ,council ,transparency ,sec4 #cja4 ,,fsoc transparency4,title ,,iv--,establishing ,federal ,reserve ,vice ,chair for ,supervision ,experience ,requirement,sec4 #dja4 ,establishment of requirements to be ,vice ,chairman for ,supervision4,title ,v--,banking ,regulator ,accountability,sec4 #eja4 ,reports and testimony to ,congress on supervision4 ,i ,enhancing ,,fdic ,transparency #aja4 ,federal ,deposit ,insurance ,corporation transparency ,section #ac7;c7 of the ,federal ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahbc7 is amended-- 7#a7 in paragraph 7#a77;,c71 by inserting after taken the following3 after notification to the ,committee on ,financial ,services of the ,house of ,representatives and the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate and2 7#b7 in paragraph 7#d7-- 7,a7 in subparagraph 7,b77i77,i71 by striking a present-value and inserting an expected present-value2 and 7,b7 in subparagraph 7,g7-- 7i7 in clause 7i7-- 7,i7 by inserting after notification to the ,committee on ,financial ,services of the ,house of ,representatives and the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate and before upon the2 and 7,,ii7 in subclause 7,,ii71 by striking would and inserting that can be shown to2 7ii7 in clause 7iii77,i71 by inserting before the semicolon the following3 1 including documentation of factors1 empirical analyses1 and data that gave rise to the determination2 and 7iii7 by adding at the end the following3 7vi7 ,additional reports to ,congress on emergency determinations 7,i7 ,in general ,with respect to each determination under clause 7i71 the ,board of ,directors1 the ,board of ,governors of the ,federal ,reserve ,system1 and the ,secretary of the ,treasury shall each provide to the ,committee on ,financial ,services of the ,house of ,representatives and the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate-- 7aa7 not later than #c days after such determination1 all documentation related to such determination1 including staff analyses and memoranda2 and 7bb7 not later than #cj days after such determination1 any analyses undertaken to justify such determination1 including data1 metrics used1 and quantitative analyses undertaken4 7,,ii7 ,information requested by committees ,the ,secretary of the ,treasury shall provide the ,committee on ,financial ,services of the ,house of ,representatives and the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate with such additional information related to a determination under clause 7i7 as the committees may request4 ,the ,secretary of the ,treasury may submit1 with such information1 a written request and justification for the committees to treat the information confidentially4 2 and 7#c7 in paragraph 7#h77;,b71 after in writing by inserting 1 shall include details of factors that led to the determination and analyses of those factors and their implications4 ,,ii ,enhancing ,federal ,reserve ,transparency #bja4 ,federal ,reserve transparency 7a7 ,federal ,reserve ,act ,the ,federal ,reserve ,act 7#ab ,u4,s4,c4 #bba et seq47 is amended-- 7#a7 in section #aa-- 7,a7 in the first subsection 7s7 7related to ,federal ,reserve ,transparency7-- 7i7 in paragraph 7#b77;,b71 by striking eighth and inserting fourth2 7ii7 in paragraph 7#e71 by striking #bd-month and inserting #ab-month2 and 7iii7 in paragraph 7#g7-- 7,i7 by striking ,this subsection and inserting the following3 7,a7 ,in general ,this subsection 2 7,,ii7 by inserting public before disclosure2 and 7,,iii7 by adding at the end the following3 7,b7 ,congressional access to information 7i7 ,in general ,the ,board shall1 upon request1 make the nonpublic personal information described under subparagraph 7,a7 available to the ,committee on ,financial ,services of the ,house of ,representatives and the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate4 7ii7 ,confidentiality ,with respect to a request described under clause 7i71 if the ,chairman of the ,board determines that any part of the requested information needs to remain confidential and provides written notice of such determination to the committee making such request1 the ,board shall only make that part of the requested information available to the chair and ranking member of the committee4 2 and 7,b7 by redesignating the second subsection 7s7 7relating to ,assessments1 ,fees1 and ,other ,charges7 as subsection 7t72 and 7#b7 in section #ac7c71 by adding at the end the following3 7,f7 ,congressional access to information 7i7 ,in general ,the ,board shall make available to the ,committee on ,financial ,services of the ,house of ,representatives and the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate information requested by such committees related to any credit facility established by or on behalf of the ,federal ,reserve ,system or a ,federal reserve bank and authorized by the ,board under this paragraph4 7ii7 ,confidentiality ,with respect to a request described under clause 7i71 if the ,chairman of the ,board determines that any part of the requested information needs to remain confidential and provides written notice of such determination to the committee making such request1 the ,board shall only make that part of the requested information available to the chair and ranking member of the committee4 4 7b7 ,dodd-,frank ,wall ,street ,reform and ,consumer ,protection ,act ,title ,,xi of the ,dodd-,frank ,wall ,street ,reform and ,consumer ,protection ,act is amended-- 7#a7 in section #aajd 7#ab ,u4,s4,c4 #efaa7-- 7,a7 in subsection 7a77#b7-- 7i7 in subparagraph 7,a71 by striking and at the end2 7ii7 by redesignating subparagraph 7,b7 as subparagraph 7,c72 and 7iii7 by inserting after subparagraph 7,a7 the following3 7,b7 be transmitted to the chair and ranking member of the ,committee on ,financial ,services of the ,house of ,representatives and the chair and ranking member of the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate2 and 2 7,b7 in subsection 7b71 by inserting after consent of the ,secretary the following3 and notification to ,congress2 7,c7 in subsection 7c77#b71 in the heading1 by striking ,,goa inserting ,congressional review and gao2 and 7,d7 by striking subsection 7d72 7#b7 in section #aaje 7#ab ,u4,s4,c4 #efab7-- 7,a7 in subsection 7c7-- 7i7 in paragraph 7#a7-- 7,i7 by inserting and upon notification to ,congress after with the ,president2 7,,ii7 by striking ,president may and inserting ,president shall2 and 7,,iii7 by striking amount and a request and inserting amount1 and include in such report the expected cost to taxpayers and a detailed description of the assumptions made and analytical tools used to calculate such expected cost1 and a request2 and 7ii7 in paragraph 7#b71 by inserting and upon notification to ,congress after with the ,president2 and 7,b7 in subsection 7g71 by amending paragraph 7#c7 to read as follows3 7#c7 ,liquidity event ,the term liquidity event shall have the definition given such term1 jointly1 by the ,board of ,governors1 the ,corporation1 and the ,secretary1 by rule pursuant to notice and comment4 4 7c7 ,title #ca ,section #gad7;f77#c7 of title #ca1 ,united ,states ,code1 is amended-- 7#a7 in subparagraph 7,b71 by striking legislative or2 and 7#b7 in subparagraph 7,c77i71 by striking 1 including to ,congress14 ,,iii ,enhancing ,financial ,stability ,oversight ,council ,transparency #cja4 ,,fsoc transparency 7a7 ,financial ,stability ,act of #bjaj ,the ,financial ,stability ,act of #bjaj 7#ab ,u4,s4,c4 #ecaa et seq47 is amended-- 7#a7 in section #aaa-- 7,a7 in subsection 7b77#a7-- 7i7 in subparagraph 7,i71 by striking and at the end2 7ii7 in subparagraph 7,j71 by striking the period at the end and inserting 2 and2 and 7iii7 by adding at the end the following3 7,k7 an independent member appointed by the ,president1 by and with the advice and consent of the ,senate1 and not of the same political party as the ,president4 2 7,b7 in subsection 7c7-- 7i7 in paragraph 7#a71 by striking independent member and inserting independent members2 and 7ii7 in paragraph 7#d7-- 7,i7 in the heading1 by striking independent member and inserting independent members2 and 7,,ii7 by striking subsection 7b77#a77;,j7 and inserting subparagraph 7,j7 or 7,k7 of subsection 7b77#a72 7,c7 by striking subsection 7d72 7,d7 by redesignating subsections 7e7 through 7j7 as subsections 7d7 through 7i71 respectively2 7,e7 in subsection 7d71 as so redesignated1 by adding at the end the following3 7#c7 ,notice to ,congress ,the ,chairperson shall notify the chair and ranking members of the ,committee on ,financial ,services of the ,house of ,representatives and the chair and ranking members of the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate of a meeting at the same time as the meeting participants are notified4 2 7,f7 in subsection 7f71 as so redesignated1 by striking 1 or to any special advisory1 technical1 or professional committee appointed by the ,council1 except that1 if an advisory1 technical1 or professional committee has one or more members who are not employees of or affiliated with the ,united ,states ,government1 the ,council shall publish a list of the names of the members of such committee2 7,g7 in subsection 7g71 as so redesignated1 by inserting before the period at the end the following3 1 but if such services1 funds1 facilities1 staff1 or other support services are provided with respect to any ,council program or activity that has1 or is planned to have1 duration of greater than #ij days1 the ,council shall notify ,congress of such provision2 and 7,h7 in subsection 7i71 as so redesignated1 by adding at the end the following3 ,the ,council shall report on such detailed employees on a monthly basis to ,congress42 7#b7 in section #aab-- 7,a7 in subsection 7a77#b7-- 7i7 in subparagraph 7,a71 by inserting after system the following3 and only after notifying ,congress2 7ii7 by striking subparagraphs 7,d7 and 7,i72 7iii7 by redesignating subparagraphs 7,e71 7,f71 7,g71 7,h71 7,j71 7,k71 7,l71 7,m71 and 7,n7 as subparagraphs 7,d7 through 7,l71 respectively2 7iv7 in subparagraph 7,d71 as so redesignated1 by striking agencies and and inserting agencies1 ,congress1 and2 7v7 in subparagraph 7,e71 as so redesignated1 by inserting after to the member agencies the following3 1 the chair and ranking member of the ,committee on ,financial ,services of the ,house of ,representatives and the chair and ranking member of the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate2 7vi7 in subparagraph 7,g71 as so redesignated1 by striking may2 7vii7 in subparagraph 7,h71 as so redesignated1 by inserting before the semicolon the following3 1 and notify the chair and ranking member of the ,committee on ,financial ,services of the ,house of ,representatives and the chair and ranking member of the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate of such identifications2 7viii7 in subparagraph 7,i71 as so redesignated1 by inserting after primary financial regulatory agencies to apply the following3 primary financial regulatory agencies1 the chair and ranking member of the ,committee on ,financial ,services of the ,house of ,representatives1 and the chair and ranking member of the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate on the costs and benefits of applying2 and 7ix7 in subparagraph 7,j71 as so redesignated1 by inserting the ,congress and before the ,commission2 7,b7 in subsection 7c71 by inserting no later than #fj days after hearing12 and 7,c7 in subsection 7d7-- 7i7 in paragraph 7#a7-- 7,i7 by striking as necessary and all that follows through to monitor and inserting as necessary to monitor2 7,,ii7 by striking 2 or and inserting a period2 and 7,,iii7 by striking subparagraph 7,b72 7ii7 in paragraph 7#b71 by inserting before the period at the end the following3 and to ,congress2 7iii7 in paragraph 7#c71 by adding at the end the following3 7,d ,congressional notification ,the ,council may not require the submission of periodic and other reports under this paragraph until #cj days after the ,council has notified the chair and ranking member of the ,committee on ,financial ,services of the ,house of ,representatives and the chair and ranking member of the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate of the ,council's intention to require such submission4 2 7iv7 in paragraph 7#d71 by inserting after ,council may the following3 1 after notifying the chair and ranking member of the ,committee on ,financial ,services of the ,house of ,representatives and the chair and ranking member of the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate12 and 7v7 in paragraph 7#e77;,a71 by inserting before the period at the end the following3 1 except that ,congress may request any such confidential data1 information1 or reports2 7#c7 in section #aac-- 7,a7 in subsection 7a77#b7-- 7i7 in subparagraph 7,i71 by adding and at the end2 7ii7 in subparagraph 7,j71 by striking 2 and and inserting a period2 and 7iii7 by striking subparagraph 7,k72 7,b7 in subsection 7b77#b7-- 7i7 in subparagraph 7,i71 by adding and at the end2 7ii7 in subparagraph 7,j71 by striking 2 and and inserting a period2 and 7iii7 by striking subparagraph 7,k72 7,c7 by striking subsection 7f72 7,d7 by redesignating subsections 7g71 7h71 and 7i7 as subsections 7f71 7g71 and 7h71 respectively2 7,e7 in subsection 7g71 as so redesignated1 by striking subsection 7d77#b71 7e77#c71 or 7f77#e7 and inserting subsection 7d77#b7 or 7e77#c72 and 7,f7 by adding at the end the following3 7i7 ,congressional review 7#a7 ,notification ,if the ,council makes a determination under this section1 the ,council shall immediately notify ,congress of such determination4 7#b7 ,effectiveness of determination ,a determination made by the ,council under this section-- 7,a7 may not take effect until the end of the #fj-;day period beginning on the date that the ,council notifies the ,congress of such determination2 and 7,b7 shall have no force or effect if disapproved1 as provided under this subsection4 7#c7 ,congressional disapproval procedure 7,a7 ,joint resolution defined ,for purposes of this paragraph1 the term joint resolution means only a joint resolution introduced during the #fj-;day period described under paragraph 7#b77;,a71 the matter after the resolving clause of which is as follows3 ,that ,congress disapproves the determination of the ,financial ,stability ,oversight ,council submitted in a notification to ,congress on 1 and such determination shall have no force or effect4 7,the blank space being filled in with the appropriate date474 7,b7 ,treatment in ,senate 7i7 ,in the ,senate1 if the committee to which is referred a joint resolution has not reported such joint resolution 7or an identical joint resolution7 at the end of the #bj-;day period beginning on the date ,congress is notified of a determination1 such committee may be discharged from further consideration of such joint resolution upon a petition supported in writing by #cj ,members of the ,senate1 and such joint resolution shall be placed on the calendar4 7ii7 ,in the ,senate1 when the committee to which a joint resolution is referred has reported1 or when a committee is discharged 7under clause 7i77 from further consideration of a joint resolution1 it is at any time thereafter in order 7even though a previous motion to the same effect has been disagreed to7 for a motion to proceed to the consideration of the joint resolution1 and all points of order against the joint resolution 7and against consideration of the joint resolution7 are waived4 ,the motion is not subject to amendment1 or to a motion to postpone1 or to a motion to proceed to the consideration of other business4 ,a motion to reconsider the vote by which the motion is agreed to or disagreed to shall not be in order4 ,if a motion to proceed to the consideration of the joint resolution is agreed to1 the joint resolution shall remain the unfinished business of the ,senate until disposed of4 7iii7 ,in the ,senate1 debate on the joint resolution1 and on all debatable motions and appeals in connection therewith1 shall be limited to not more than #aj hours1 which shall be divided equally between those favoring and those opposing the joint resolution4 ,a motion further to limit debate is in order and not debatable4 ,an amendment to1 or a motion to postpone1 or a motion to proceed to the consideration of other business1 or a motion to recommit the joint resolution is not in order4 7iv7 ,in the ,senate1 immediately following the conclusion of the debate on a joint resolution1 and a single quorum call at the conclusion of the debate if requested in accordance with the rules of the ,senate1 the vote on final passage of the joint resolution shall occur4 7v7 ,in the ,senate1 appeals from the decisions of the ,chair relating to the application of the rules of the ,senate to the procedure relating to a joint resolution shall be decided without debate4 7vi7 ,in the ,senate1 the procedure specified in this subparagraph shall not apply to the consideration of a joint resolution after the end of the #fj-;day period described under paragraph 7#b77;,a74 7#d7 ,treatment of joint resolution received from the other ,house ,if1 before the passage by one ,house of a joint resolution of that ,house1 that ,house receives from the other ,house a joint resolution1 then the following procedures shall apply3 7,a7 ,the joint resolution of the other ,house shall not be referred to a committee4 7,b7 ,with respect to a joint resolution of the ,house receiving the joint resolution-- 7i7 the procedure in that ,house shall be the same as if no joint resolution had been received from the other ,house2 but 7ii7 the vote on final passage shall be on the joint resolution of the other ,house4 7#e7 ,treatment of this paragraph ,this paragraph is enacted by ,congress-- 7,a7 as an exercise of the rulemaking power of the ,senate and ,house of ,representatives1 respectively1 and as such it is deemed a part of the rules of each ,house1 respectively1 but applicable only with respect to the procedure to be followed in that ,house in the case of a joint resolution1 and it supersedes other rules only to the extent that it is inconsistent with such rules2 and 7,b7 with full recognition of the constitutional right of either ,house to change the rules 7so far as relating to the procedure of that ,house7 at any time1 in the same manner1 and to the same extent as in the case of any other rule of that ,house4 2 7#d7 in section #aae-- 7,a7 in subsection 7a77#a71 by inserting after recommendations to the following3 the chair and ranking member of the ,committee on ,financial ,services of the ,house of ,representatives1 the chair and ranking member of the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate1 and2 7,b7 in subsection 7c77#c71 by inserting after recommendations to the following3 the chair and ranking member of the ,committee on ,financial ,services of the ,house of ,representatives1 the chair and ranking member of the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate1 and2 7,c7 in subsection 7d7-- 7i7 in paragraph 7#a71 by inserting after make recommendations to the ,board of ,governors the following3 1 if the chair and ranking member of the ,committee on ,financial ,services of the ,house of ,representatives and the chair and ranking member of the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate are notified of such recommendations12 and 7ii7 in paragraph 7#b71 by inserting after make recommendations to the ,board of ,governors the following3 1 if the chair and ranking member of the ,committee on ,financial ,services of the ,house of ,representatives and the chair and ranking member of the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate are notified of such recommendations12 7,d7 in subsection 7e71 by inserting after make recommendations to the ,board of ,governors the following3 1 if the chair and ranking member of the ,committee on ,financial ,services of the ,house of ,representatives and the chair and ranking member of the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate are notified of such recommendations12 7,e7 in subsection 7f71 by inserting after make recommendations to the ,board of ,governors the following3 1 if the chair and ranking member of the ,committee on ,financial ,services of the ,house of ,representatives and the chair and ranking member of the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate are notified of such recommendations12 and 7,f7 in subsection 7g71 by inserting after make recommendations to the ,board of ,governors the following3 1 if the chair and ranking member of the ,committee on ,financial ,services of the ,house of ,representatives and the chair and ranking member of the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate are notified of such recommendations12 7#e7 in section #aaf7;a71 by inserting after may the following3 1 after notifying the chair and ranking member of the ,committee on ,financial ,services of the ,house of ,representatives and the chair and ranking member of the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate12 7#f7 in section #abj-- 7,a7 in subsection 7a71 by inserting after regulatory agencies the following3 1 if the chair and ranking member of the ,committee on ,financial ,services of the ,house of ,representatives and the chair and ranking member of the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate are notified of such recommendations12 7,b7 in subsection 7b7-- 7i7 in paragraph 7#a71 by inserting after to the public the following3 and ,congress2 and 7ii7 in paragraph 7#b77;,a71 by inserting before the semicolon the following3 1 and the notice required under paragraph 7#a7 shall contain data1 methodology1 and analysis detailing such costs2 7,c7 in subsection 7c77#b71 by inserting after recommended by the ,council the following3 1 after notifying the chair and ranking member of the ,committee on ,financial ,services of the ,house of ,representatives and the chair and ranking member of the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate of such imposition12 7,d7 in subsection 7e77#b77;,a71 by inserting before the period at the end the following3 1 and notify the chair and ranking member of the ,committee on ,financial ,services of the ,house of ,representatives and the chair and ranking member of the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate of such determination and the factors1 data1 and analysis leading to such determination2 and 7,e7 by adding at the end the following3 7f7 ,delay in implementation ,a primary financial regulatory agency may not implement a recommendation made by the ,council under subsection 7a7 until the end of the #ij-;day period beginning on the date such recommendation is issued4 2 7#g7 in section #aba-- 7,a7 in subsection 7d71 by inserting after ,governors may the following3 1 after notifying the chair and ranking member of the ,committee on ,financial ,services of the ,house of ,representatives and the chair and ranking member of the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate12 and 7,b7 by adding at the end the following3 7e7 ,notice to ,congress2 delay in implementation ,the ,board of ,governors-- 7#a7 shall notify the chair and ranking member of the ,committee on ,financial ,services of the ,house of ,representatives and the chair and ranking member of the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate of an intention to take an action described under paragraph 7#a7 through 7#e7 of subsection 7a72 and 7#b7 may not take such an action until the end of the #fj-;day period beginning on the date of such notification4 2 7#h7 in section #abb-- 7,a7 in subsection 7a71 by striking may audit and inserting shall annually audit2 and 7,b7 in subsection 7b77#b7-- 7i7 by striking ,the ,comptroller and inserting ,the chair and ranking member of the ,committee on ,financial ,services of the ,house of ,representatives1 the chair and ranking member of the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate1 and the ,comptroller2 and 7ii7 by striking as the ,comptroller ,general and inserting as the chair1 ranking member1 or ,comptroller ,general1 as applicable2 7#i7 in section #aeb7;e71 by adding at the end the following3 ,the ,office shall report on such detailed employees on a monthly basis to ,congress42 7#aj7 in section #aec-- 7,a7 in subsection 7a7-- 7i7 in paragraph 7#c71 by striking essential2 7ii7 by striking paragraph 7#e72 7iii7 by redesignating paragraphs 7#f7 and 7#g7 as paragraphs 7#e7 and 7#f71 respectively2 and 7iv7 in paragraph 7#e71 as so redesignated1 by inserting before the semicolon the following3 1 the chair and ranking member of the ,committee on ,financial ,services of the ,house of ,representatives1 and the chair and ranking member of the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate2 7,b7 in subsection 7b7-- 7i7 in paragraph 7#a7-- 7,i7 by inserting after with the ,council1 the following3 the chair and ranking member of the ,committee on ,financial ,services of the ,house of ,representatives1 the chair and ranking member of the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate12 and 7,,ii7 in subparagraph 7,b71 by inserting before the semicolon the following3 and without prior notice of such sharing being provided to the chair and ranking member of the ,committee on ,financial ,services of the ,house of ,representatives and the chair and ranking member of the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate2 7ii7 in paragraph 7#b71 by inserting before the semicolon the following3 1 after providing notice to the chair and ranking member of the ,committee on ,financial ,services of the ,house of ,representatives and the chair and ranking member of the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate of such research projects2 7iii7 in paragraph 7#c71 by inserting before the period at the end the following3 1 after providing notice to the chair and ranking member of the ,committee on ,financial ,services of the ,house of ,representatives and the chair and ranking member of the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate of such assistance2 and 7,c7 in subsection 7f77#a71 by striking but only and inserting but not earlier than #fj days after the ,director notifies the ,committee on ,financial ,services of the ,house of ,representatives and the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate of the requirement to produce such data and only2 7#aa7 in section #aed-- 7,a7 in subsection 7b7-- 7i7 in paragraph 7#a77;,b77i71 by inserting after with the ,council1 the following3 after notifying the chair and ranking member of the ,committee on ,financial ,services of the ,house of ,representatives and the chair and ranking member of the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate12 and 7ii7 in paragraph 7#b71 by adding at the end the following3 7,c7 ,review and report on the cost of the databases ,the ,data ,center shall review and report to the ,committee on ,financial ,services of the ,house of ,representatives and the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate annually on the cost to the ,government and the cost to private sector entities of maintaining the financial company reference database and the financial instrument reference database1 relative to a detailed quantification of benefits4 2 7,b7 in subsection 7c77#a77;,e71 by inserting before the semicolon the following3 or ,congress2 and 7,c7 in subsection 7d77#b7-- 7i7 in subparagraph 7,b71 by striking and at the end2 7ii7 in subparagraph 7,c71 by striking the period at the end and inserting 2 and2 and 7iii7 by adding at the end the following3 7,d7 evidence of inefficient1 ineffective1 or burdensome regulations4 2 and 7#ab7 in section #aee7;d7-- 7,a7 by striking ,beginning and inserting the following3 7#a7 ,in general ,beginning 2 and 7,b7 by adding at the end the following3 7#b7 ,maximum assessment amount ,the aggregate amount of assessments collected pursuant to paragraph 7#a7 may not exceed the aggregate amount of assessments collected in the most recently completed fiscal year ending before the date of enactment of this paragraph1 as such aggregate amount is adjusted annually by the ,director of the ,office to reflect the change in the ,consumer ,price ,index for ,all ,urban ,consumers published by the ,bureau of ,labor ,statistics of the ,department of ,labor4 4 7b7 ,conforming amendment ,section #ecad of title #e1 ,united ,states ,code1 is amended by striking ,independent ,member of the ,financial ,stability ,oversight ,council 7#a7 and inserting ,independent ,members of the ,financial ,stability ,oversight ,council 7#b74 ,,iv ,establishing ,federal ,reserve ,vice ,chair for ,supervision ,experience ,requirement #dja4 ,establishment of requirements to be ,vice ,chairman for ,supervision 7a7 ,in general ,the second undesignated paragraph of section #aj of the ,federal ,reserve ,act 7#ab ,u4,s4,c4 #bdb7 is amended-- 7#a7 by inserting the following after the third sentence3 ,in designating the ,vice ,chairman for ,supervision1 the ,president shall designate an individual with demonstrated primary experience working in1 or supervising1 insured depository institutions1 bank holding companies1 or savings and loan holding companies42 and 7#b7 in the fourth sentence-- 7,a7 by inserting after supervised by the ,board the following3 7with any such recommendations being provided to the ,board with ample and sufficient time for review prior to the ,vice ,chairman making the recommendation public72 and 7,b7 by inserting after regulation of such firms the following3 1 subject to such oversight and control of the ,board as the ,board determines necessary and appropriate4 7b7 ,rule of application ,the amendment made by subsection 7a7 shall apply to individuals who are designated by the ,president on or after the date of enactment of this ,act to serve as the ,vice ,chairman for ,supervision4 ,v ,banking ,regulator ,accountability #eja4 ,reports and testimony to ,congress on supervision 7a7 ,testimony and reports to ,congress on ,federal ,reserve ,system supervision ,section #b;,b of the ,federal ,reserve ,act 7#ab ,u4,s4,c4 #bbe;b7 is amended by adding at the end the following3 7d7 ,semi-annual testimony and report to ,congress on supervision 7#a7 ,in general ,the ,vice ,chairman for ,supervision shall submit a semi-annual report to the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate and the ,committee on ,financial ,services of the ,house of ,representatives regarding the efforts1 activities1 objectives1 and plans of the ,board with respect to the conduct of supervision and regulation of depository institution holding companies and other financial firms supervised by the ,board4 7#b7 ,minimum contents ,at a minimum1 each report under paragraph 7#a7 shall include-- 7,a7 conditions of financial firms1 including examination or inspection ratings1 on an aggregate basis by firm asset size2 7,b7 granular data on outstanding material supervisory determinations by type of determination1 including the types of risks covered1 on an aggregate basis by firm asset size2 7,c7 changes in the number and types of outstanding material supervisory determinations over the previous #e years2 7,d7 aggregate data on the ratings of financial firms over the previous #c years2 7,e7 the number of informal and formal enforcement actions1 by type of enforcement order and showing changes in the last #c years1 against supervised financial firms on an aggregate basis by firm asset size2 and 7,f7 a description of the organization of the supervisory functions of the ,board with respect to financial firms1 including information on roles1 responsibilities1 accountability1 and talent management4 7#c7 ,confidential report ,concurrent with each report under paragraph 7#a71 the ,vice ,chairman for ,supervision shall submit a confidential report to the chair and ranking member of each committee described under paragraph 7#a7 identifying-- 7,a7 each supervised financial firm with less than satisfactory examination or inspection ratings2 and 7,b7 each supervised financial firm with an active formal or informal enforcement action1 and the status of each provision of each enforcement action4 4 7b7 ,testimony and reports to ,congress on ,federal ,deposit ,insurance ,corporation supervision ,section #ag of the ,federal ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahbg7 is amended by adding at the end the following3 7h7 ,semi-annual testimony and report to ,congress on supervision 7#a7 ,appearances before ,congress ,the ,chairman of the ,corporation shall appear before the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate and the ,committee on ,financial ,services of the ,house of ,representatives at semi-annual hearings regarding the efforts1 activities1 objectives1 and plans of the ,corporation with respect to the conduct of supervision and regulation of depository institutions supervised by the ,corporation4 7#b7 ,report to ,congress 7,a7 ,in general ,the ,chairman of the ,corporation shall transmit to the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate and the ,committee on ,financial ,services of the ,house of ,representatives semi-annual reports regarding the efforts1 activities1 objectives1 and plans of the ,corporation with respect to the conduct of supervision and regulation of depository institutions supervised by the ,corporation4 7,b7 ,minimum contents ,at a minimum1 each report under subparagraph 7,a7 shall include-- 7i7 conditions of depository institutions1 including examination or inspection ratings1 on an aggregate basis by institution asset size2 7ii7 granular data on outstanding material supervisory determinations by type of determination1 including the types of risks covered1 on an aggregate basis by institution asset size2 7iii7 changes in the number and types of outstanding material supervisory determinations over the previous #e years2 7iv7 aggregate data on the ratings of depository institutions over the previous #c years2 7v7 the number of informal and formal enforcement actions1 by type of enforcement order and showing changes in the last #c years1 against supervised depository institutions on an aggregate basis by institution asset size2 and 7vi7 a description of the organization of the supervisory functions of the ,corporation with respect to depository institutions1 including information on roles1 responsibilities1 accountability1 and talent management4 7,c7 ,confidential report ,concurrent with each report under subparagraph 7,a71 the ,chairman of the ,corporation shall submit a confidential report to the chair and ranking member of each committee described under subparagraph 7,a7 identifying-- 7i7 each supervised depository institution with less than satisfactory examination or inspection ratings2 and 7ii7 each supervised depository institution with an active formal or informal enforcement action1 and the status of each provision of each enforcement action4 4 7c7 ,testimony and reports to ,congress on ,comptroller of the ,currency supervision ,the second section #ccc of the ,revised ,statutes of the ,united ,states 7#ab ,u4,s4,c4 #ad2 relating to the annual report7 is amended-- 7#a7 by striking ,sec4 #ccc4 and all that follows through ,the ,comptroller and inserting the following3 #ccc4 ,report of comptroller 7a7 ,annual report ,the ,comptroller 2 and 7#b7 by adding at the end the following3 7b7 ,semi-annual testimony and report to ,congress on supervision 7#a7 ,appearances before ,congress ,the ,comptroller of the ,currency shall appear before the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate and the ,committee on ,financial ,services of the ,house of ,representatives at semi-annual hearings regarding the efforts1 activities1 objectives1 and plans of the ,office of the ,comptroller of the ,currency with respect to the conduct of supervision and regulation of national banks and other financial firms supervised by the ,office of the ,comptroller of the ,currency4 7#b7 ,report to ,congress 7,a7 ,in general ,the ,comptroller of the ,currency shall transmit to the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate and the ,committee on ,financial ,services of the ,house of ,representatives semi-annual reports regarding the efforts1 activities1 objectives1 and plans of the ,office of the ,comptroller of the ,currency with respect to the conduct of supervision and regulation of national banks and other financial firms supervised by the ,office of the ,comptroller of the ,currency4 7,b7 ,minimum contents ,at a minimum1 each report under subparagraph 7,a7 shall include-- 7i7 conditions of national banks and other financial firms1 including examination or inspection ratings1 on an aggregate basis by asset size2 7ii7 granular data on outstanding material supervisory determinations by type of determination1 including the types of risks covered1 on an aggregate basis by asset size2 7iii7 changes in the number and types of outstanding material supervisory determinations over the previous #e years2 7iv7 aggregate data on the ratings of national banks and other financial firms over the previous #c years2 7v7 the number of informal and formal enforcement actions1 by type of enforcement order and showing changes in the last #c years1 against supervised national banks and other financial firms on an aggregate basis by firm asset size2 and 7vi7 a description of the organization of the supervisory functions of the ,office of the ,comptroller of the ,currency with respect to national banks and other financial firms1 including information on roles1 responsibilities1 accountability1 and talent management4 7,c7 ,confidential report ,concurrent with each report under subparagraph 7,a71 the ,comptroller of the ,currency shall submit a confidential report to the chair and ranking member of each committee described under subparagraph 7,a7 identifying-- 7i7 each supervised national bank or other financial firms with less than satisfactory examination or inspection ratings2 and 7ii7 each supervised national bank or other financial firms with an active formal or informal enforcement action1 and the status of each provision of each enforcement action4 4 7d7 ,testimony and reports to ,congress on ,national ,credit ,union ,administration supervision ,section #ajb of the ,federal ,credit ,union ,act 7#ab ,u4,s4,c4 #ageb;a7 is amended by adding at the end the following3 7g7 ,semi-annual testimony and report to ,congress on supervision 7#a7 ,appearances before ,congress ,the ,chairman of the ,board shall appear before the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate and the ,committee on ,financial ,services of the ,house of ,representatives at semi-annual hearings regarding the efforts1 activities1 objectives1 and plans of the ,administration with respect to the conduct of supervision and regulation of credit unions supervised by the ,administration4 7#b7 ,report to ,congress 7,a7 ,in general ,the ,chairman of the ,board shall transmit to the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate and the ,committee on ,financial ,services of the ,house of ,representatives semi-annual reports regarding the efforts1 activities1 objectives1 and plans of the ,administration with respect to the conduct of supervision and regulation of credit unions supervised by the ,administration4 7,b7 ,minimum contents ,at a minimum1 each report under subparagraph 7,a7 shall include-- 7i7 conditions of credit unions1 including examination or inspection ratings1 on an aggregate basis by credit union asset size2 7ii7 granular data on outstanding material supervisory determinations by type of determination1 including the types of risks covered1 on an aggregate basis by credit union asset size2 7iii7 changes in the number and types of outstanding material supervisory determinations over the previous #e years2 7iv7 aggregate data on the ratings of credit unions over the previous #c years2 7v7 the number of informal and formal enforcement actions1 by type of enforcement order and showing changes in the last #c years1 against supervised credit unions on an aggregate basis by credit union asset size2 and 7vi7 a description of the organization of the supervisory functions of the ,board with respect to credit unions1 including information on roles1 responsibilities1 accountability1 and talent management4 7,c7 ,confidential report ,concurrent with each report under subparagraph 7,a71 the ,chairman of the ,board shall submit a confidential report to the chair and ranking member of each committee described under subparagraph 7,a7 identifying-- 7i7 each supervised credit union with less than satisfactory examination or inspection ratings2 and 7ii7 each supervised credit union with an active formal or informal enforcement action1 and the status of each provision of each enforcement action4 4 ,december #ai1 #bjbd;,committee on ,oversight and ,accountability discharged2 committed to the ,committee of the ,whole ,house on the ,state of the ,union and ordered to be printed