Financial Institution Living Will Improvement Act of 2017
USA115th CongressHR-4292| House
| Updated: 2/5/2018
Lee M. Zeldin
Republican Representative
New York
Cosponsors (3)
Financial Services Committee, Banking, Housing, and Urban Affairs Committee
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Financial Institution Living Will Improvement Act of 2017 (Sec. 2) This bill amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to establish the frequency with which certain nonbank financial companies and bank holding companies shall be required to submit a "living will" (i.e., the company's plan for rapid and orderly resolution in the event of financial distress or failure) to the Federal Reserve Board (FRB), the Financial Stability Oversight Council, and the Federal Deposit Insurance Corporation (FDIC). Specifically, such companies shall be required to do so once every two years. (Current regulations generally require annual submission of plans.) The FRB and the FDIC must provide feedback to a company regarding such a plan within six months.
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Timeline
Introduced in House
Referred to the House Committee on Financial Services.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported (Amended) by the Yeas and Nays: 60 - 0.
Placed on the Union Calendar, Calendar No. 345.
Reported (Amended) by the Committee on Financial Services. H. Rept. 115-465.
Mr. Tipton moved to suspend the rules and pass the bill, as amended.
Considered under suspension of the rules. (consideration: CR H650-652; text: CR H650-651)
DEBATE - The House proceeded with forty minutes of debate on H.R. 4292.
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
Considered as unfinished business. (consideration: CR H725)
On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 414 - 0 (Roll no. 50).
View VoteMotion to reconsider laid on the table Agreed to without objection.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Finance and Financial Sector
Banking and financial institutions regulationFinancial crises and stabilizationGovernment information and archives
Financial Institution Living Will Improvement Act of 2017
USA115th CongressHR-4292| House
| Updated: 2/5/2018
Financial Institution Living Will Improvement Act of 2017 (Sec. 2) This bill amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to establish the frequency with which certain nonbank financial companies and bank holding companies shall be required to submit a "living will" (i.e., the company's plan for rapid and orderly resolution in the event of financial distress or failure) to the Federal Reserve Board (FRB), the Financial Stability Oversight Council, and the Federal Deposit Insurance Corporation (FDIC). Specifically, such companies shall be required to do so once every two years. (Current regulations generally require annual submission of plans.) The FRB and the FDIC must provide feedback to a company regarding such a plan within six months.
Suggested Questions
Get AI-generated questions to help you understand this bill better
Timeline
Introduced in House
Referred to the House Committee on Financial Services.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported (Amended) by the Yeas and Nays: 60 - 0.
Placed on the Union Calendar, Calendar No. 345.
Reported (Amended) by the Committee on Financial Services. H. Rept. 115-465.
Mr. Tipton moved to suspend the rules and pass the bill, as amended.
Considered under suspension of the rules. (consideration: CR H650-652; text: CR H650-651)
DEBATE - The House proceeded with forty minutes of debate on H.R. 4292.
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
Considered as unfinished business. (consideration: CR H725)
On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 414 - 0 (Roll no. 50).
View VoteMotion to reconsider laid on the table Agreed to without objection.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Lee M. Zeldin
Republican Representative
New York
Cosponsors (3)
Financial Services Committee, Banking, Housing, and Urban Affairs Committee
Finance and Financial Sector
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- HR 115-6147: Interior, Environment, Financial Services and General Government, Agriculture, Rural Development, Food and Drug Administration, and Transportation, Housing and Urban Development Appropriations Act, 2019
- S 115-3070: A bill to reform the living will process under the Dodd-Frank Wall Street Reform and Consumer Protection Act.
- HR 115-10: Financial CHOICE Act of 2017
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Banking and financial institutions regulationFinancial crises and stabilizationGovernment information and archives