H.R. 4387: FSOC Transparency and Accountability Act

113th Congress · introduced 2014-04-03 · Finance and Financial Sector · Latest: Ordered to be Reported (Amended) by the Yeas and Nays: 32 - 27.

federal

Follow this bill, step by step

Where it came from: introduced 2014-04-03 · official record
Who proposed it: Rep. Garrett, Scott [R-NJ-5] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Ordered to be Reported (Amended) by the Yeas and Nays: 32 - 27. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

FSOC Transparency and Accountability Act

Plain summary

FSOC Transparency and Accountability Act - Amends the Financial Stability Act of 2010 to repeal the nonapplicability of the Federal Advisory Committee Act (FACA) to the Financial Stability Oversight Council (thus applying FACA to the Council). Declares the Council an agency for purposes of the "Government in the Sunshine Act" (and its open meeting requirements). Revises the voting profile of Council members to single out the following member agencies as each having collectively one vote: (1) the Board of Governors of the Federal Reserve System, (2) the Securities and Exchange Commission (SEC), (3) the Federal Deposit Insurance Corporation (FDIC), (4) the Commodity Futures Trading Commission (CFTC), and (5) the National Credit Union Administration (NCUA) Board. Directs such member agencies to: (1) determine their Council vote by using the voting process normally applicable to votes by their members, and (2) cast the one collective Council vote by the agency head. Permits any Council member to select to have one or more individuals on the member's staff attend a meeting of the Council, including any meeting of representatives of the member agencies other than the members themselves. Requires all Council meetings to be open to attendance and participation by members of specified congressional committees, including any meeting of representatives of the member agencies other than the members themselves.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

FSOC Transparency and Accountability Act

Source: Congressional Research Service summary (Introduced in House)

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The strongest published arguments

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Garrett, Scott [R-NJ-5] · 13 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Ann Wagner (R-MO), Tom Cotton (R-AR), Gary C. Peters (D-MI)

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (1)

Securities: Financial investments that can be bought and sold, such as stocks and bonds.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in House)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-113hr4387.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/113/hr>

Record fed-us-cong113-hr4387 · catalog fed-us-congress-bills-cong113 · updated 2026-11-15 by psicol fed-bills-cong113