H.R. 1550: Financial Stability Oversight Council Improvement Act of 2015

114th Congress · introduced 2015-03-23 · Finance and Financial Sector · Latest: Placed on the Union Calendar, Calendar No. 681.

federal

Follow this bill, step by step

Where it came from: introduced 2015-03-23 · official record
Who proposed it: Rep. Ross, Dennis A. [R-FL-15] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Placed on the Union Calendar, Calendar No. 681. 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

Financial Stability Oversight Council Improvement Act of 2015

Plain summary

(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.) Financial Stability Oversight Council Improvement Act of 2015 (Sec. 2) This bill amends the Financial Stability Act of 2010 to require the Financial Stability Oversight Council (FSOC), when determining whether to subject a U.S. or a foreign nonbank financial company to supervision by the Board of Governors of the Federal Reserve System, including prudential standards, to consider the appropriateness of imposing such standards as opposed to other forms of regulation to mitigate identified risks to U.S. financial stability. FSOC must: (1) reevaluate annually its determinations regarding a nonbank financial company under Federal Reserve Board supervision, and (2) provide the company written notice and opportunity to submit written materials contesting a determination A nonbank financial company, every five years after FSOC's final determination, may request a reevaluation of it. The bill prescribes procedural requirements for proposed FSOC determinations and final decisionmaking. FSOC must study every five years: (1) the impact of its determinations to subject nonbank financial companies to Federal Reserve Board supervision and prudential standards, and (2) whether such determinations have the intended result of improving domestic financial stability.

Congressional Research Service summary (Reported to House without amendment), 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

Financial Stability Oversight Council Improvement Act of 2015

Source: Congressional Research Service summary (Reported to House without amendment)

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The strongest published arguments

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

Officials and money

Sponsor: Rep. Ross, Dennis A. [R-FL-15] · 60 cosponsors

Cost estimate: CBO cost estimate: H.R. 1550, Financial Stability Oversight Council Improvement Act of 2015 (2016-09-15)

Cosponsors on this site

Andy Barr (R-KY), Gregory W. Meeks (D-NY), Frank D. Lucas (R-OK), Brad Sherman (D-CA), Joyce Beatty (D-OH), Donald Norcross (D-NJ), Bill Huizenga (R-MI), Juan Vargas (D-CA), James A. Himes (D-CT), Terri A. Sewell (D-AL), Ann Wagner (R-MO), Suzan K. DelBene (D-WA), Brendan F. Boyle (D-PA), J. French Hill (R-AR), Roger Williams (R-TX), Tom Emmer (R-MN), Bill Foster (D-IL), Mike Quigley (D-IL), Jim Costa (D-CA), Scott H. Peters (D-CA), Pete Sessions (R-TX), Mike Thompson (D-CA), David Schweikert (R-AZ), Seth Moulton (D-MA), Pete Aguilar (D-CA)

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 (2)

Bill: A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
Rulemaking: The process agencies use to write regulations that carry out laws passed by Congress or a legislature. Usually an agency publishes a proposed rule, takes public comments, then publishes a final rule.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Reported to House without amendment)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-114hr1550.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/114/hr>

Record fed-us-cong114-hr1550 · catalog fed-us-congress-bills-cong114 · updated 2026-11-15 by psicol fed-bills-cong114