,,ib ,union ,calendar ,no4 #caf #aaith  
,,congress  #ast ,session  ,h4 ,r4 #cfhb
 ,report ,no4 #aai-cfd ,,in ,,the       
,,house ,,of ,,representatives  ,june   
#c1 #bjbe,mr4 ,foster 7for himself and  
,mr4 ,huizenga7 introduced the following
 bill2 which was referred to the        
,committee on ,financial ,services      
,november #d1 #bjbe;,additional         
sponsors3 ,mr4 ,gottheimer1 ,mrs4 ,kim1 
,mr4 ,sherman1 ,ms4 ,pettersen1 ,mr4    
,torres of ,new ,york1 ,mr4 ,lucas1 ,mr4
 ,meuser1 ,mr4 ,cleaver1 ,ms4 ,houlahan1
 ,mr4 ,david ,scott of ,georgia1 ,mr4   
,schneider1 ,mr4 ,vicente ,gonzalez of  
,texas1 ,mrs4 ,wagner1 ,ms4 ,bynum1 ,mr4
 ,downing1 ,ms4 ,de ,la ,cruz1 ,mr4     
,lawler1 ,mr4 ,himes1 and ,mr4 ,nunn of 
,iowa  ,november #d1 #bjbe,reported with
 an amendment1 committed to the         
,committee of the ,whole ,house on the  
,state of the ,union1 and ordered to be 
printed,strike out all after the        
enacting clause and insert the part     
printed in italic,for text of introduced

 bill1 see copy of bill as introduced on
 ,june #c1 #bjbe  ,a ,,bill  ,to amend  
the ,financial ,stability ,act of #bjaj 
to require the ,financial ,stability    
,oversight ,council to consider         
alternative approaches before           
determining that a ,u4,s4 nonbank       
financial company shall be supervised by
 the ,board of ,governors of the        
,federal ,reserve ,system1 and for other
 purposes4  #a4 ,short title ,this ,act 
may be cited as the ,financial          
,stability ,oversight ,council          
,improvement ,act of #bjbe4  #b4        
,financial ,stability ,oversight        
,council ,section #aac of the ,financial
 ,stability ,act of #bjaj 7#ab ,u4,s4,c4
 #ecbc7 is amended-- 7#a7 in subsection 
7a7-- 7,a7 in paragraph 7#a71 by        
striking ,the ,council and inserting    
,subject to paragraph 7#c71 the         
,council2 and  7,b7 by adding at the end
 the following3  7#c7 ,initial          
determination ,the ,council may not vote
 on a proposed determination with       

respect to a ,u4,s4 nonbank financial   
company under paragraph 7#a7 unless the 
,council first determines1 in           
consultation with the company and the   
primary financial regulatory agency with
 respect to the company1 that a         
different action by the ,council or the 
agency 7including the application of new
 or heightened standards and safeguards 
under section #abj71 or by the company  
under a written plan that is submitted  
promptly to the ,council1 is            
impracticable or insufficient to        
mitigate the threat that material       
financial distress at the company1 or   
the nature1 scope1 size1 scale1         
concentration1 interconnectedness1 or   
mix of the activities of the company1   
could pose to the financial stability of
 the ,united ,states4  2 and  7#b7 in   
subsection 7f77#a71 by striking         
subsection 7e7 and inserting subsections
 7a77#c7 and 7e74  ,november #d1        
#bjbe,reported with an amendment1       
committed to the ,committee of the      

,whole ,house on the ,state of the      
,union1 and ordered to be printed