H.R. 7121: Financial Regulators Revolving Door Enforcement Act

118th Congress · introduced 2024-01-29 · Finance and Financial Sector · Latest: Referred to the House Committee on Financial Services.

federal

Follow this bill, step by step

Where it came from: introduced 2024-01-29 · official record
Who proposed it: Rep. Schiff, Adam B. [D-CA-30] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Referred to the House Committee on Financial Services. 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 Regulators Revolving Door Enforcement Act

Plain summary

Financial Regulators Revolving Door Enforcement Act This bill places revolving door limitations on certain individuals for two years after they have left employment with (1) specified federal financial regulators, or (2) regulated insured depository institutions or credit unions. First, the bill prohibits certain individuals from employment or consulting positions at specified federal financial regulators for two years. Specifically, this prohibition applies to individuals employed as financial executive officers at an insured depository institution or credit union that, during the last 20 years, was the subject of an official action by that regulator (e.g., was awarded a contract or was the target of an investigation). The bill also prohibits former senior agency employees at specified federal financial regulators from accepting employment from a regulated insured depository institution or credit union for two years. These former employees are also restricted with respect to contacting the regulator on behalf of a third party. These revolving door limitations are lifted two years after holding the qualifying position, however, compliance with specified disclosures is required for five years. Federal financial regulators must annually provide conflict of interest and ethics training to senior employees. The Department of Justice may impose civil penalties for violations under this bill.

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

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A “Nay” vote

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What does this mean? (plain words)

Official text

Financial Regulators Revolving Door Enforcement Act

Source: Congressional Research Service summary (Introduced in House)

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

Officials and money

Sponsor: Rep. Schiff, Adam B. [D-CA-30] · 1 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Maxwell Frost (D-FL)

Sponsor's campaign money: Rep. Schiff, Adam B. [D-CA-30] reported raising $10.4 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

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)

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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-118hr7121.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/118/hr>

Record fed-us-cong118-hr7121 · catalog fed-us-congress-bills-cong118 · updated 2026-11-15 by psicol fed-bills-cong118