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H.R. 4061: Financial Stability Oversight Council Improvement Act of 2017

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H.R. 4061: Financial Stability Oversight Council Improvement Act of 2017

115th Congress · introduced 2017-10-12 · Finance and Financial Sector · Latest: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

federal

Follow this bill, step by step

  1. Where it came from: introduced 2017-10-12 · official record
  2. Who proposed it: Rep. Ross, Dennis A. [R-FL-15] · what a sponsor is
  3. What happened next: 1 recorded vote in our records. Latest: House roll call 135 (2018): On Passage, HR4061 (2018-04-11), Passed. See all
  4. Where it stands now: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Not final yet: this can still change. We check for updates every day.
  5. 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 2017

Plain summary

Financial Stability Oversight Council Improvement Act of 2017 This bill amends the Financial Stability Act of 2010 to require the Financial Stability Oversight Council, in determining whether a nonbank financial company shall be designated as systemically important and consequently be supervised by the Federal Reserve Board and subject to 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. Every five years, the council must, upon request by a nonbank financial company, reevaluate such a determination and hold a vote on whether to rescind it. The bill revises procedural requirements related to council determinations.

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 2017

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] · 57 cosponsors

Cost estimate: CBO cost estimate: H.R. 4061, Financial Stability Oversight Council Improvement Act of 2017 (2018-03-09)

Cosponsors on this site

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

Recorded votes

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

Record fed-us-cong115-hr4061 · catalog fed-us-congress-bills-cong115 · updated 2026-11-15 by psicol fed-bills-cong115