United States 115th Congress Status: In Committee Bipartisan · 3 D · 1 R cosponsors

S 1139 — Main Street Regulatory Fairness Act

Last action — Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 115th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there are no live odds of enactment. It would have to be reintroduced in the current session to move again.

In plain language

The bill modifies stress test requirements for certain financial institutions.

The bill amends the Financial Stability Act to change stress test requirements from semiannual to periodic and raises the asset threshold from $10 billion to $50 billion for certain financial companies.

Summary

Main Street Regulatory Fairness Act This bill amends the Financial Stability Act of 2010 to increase, from $10 billion to $50 billion, the consolidated-assets threshold at which stress-testing requirements apply to certain financial companies. The bill also specifies that stress tests must be conducted periodically (rather than semiannually or annually, depending on the type of financial company, as required under current law).

Bill Text

How this bill changes current law

3 changes Share ↗

Compared against current U.S. Code AI-generated reading aid — verify against the official bill.

The bill modifies the requirements for stress tests by changing the frequency and threshold of financial institutions subject to these tests.

  • 12 U.S.C. 5365(i)(2)(A)

    semiannual → periodic

    The frequency of stress tests is changed from semiannual to periodic.

  • 12 U.S.C. 5365(i)(2)(A)

    $10,000,000,000 → $50,000,000,000

    The threshold for nonbank financial companies subject to stress tests is increased from $10 billion to $50 billion.

  • 12 U.S.C. 5365(i)(2)(A)

    annual → periodic

    The stress test requirement is modified from annual to periodic assessments.

Action History

  1. Introduced in Senate

  2. Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Sponsors

Sponsorship breakdown

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1 sponsors · 3 co-sponsors · 543 not signed on

Sponsors (1)

Co-sponsors (3)

Not signed on (543)

543 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

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Subjects

finance
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Frequently asked questions

What does S 1139 do?
Main Street Regulatory Fairness Act This bill amends the Financial Stability Act of 2010 to increase, from $10 billion to $50 billion, the consolidated-assets threshold at which stress-testing requirements apply to certain financial companies. The bill also specifies that stress tests must be conducted periodically (rather than semiannually or annually, depending on the type of financial company, as required under current law).
Who sponsors S 1139?
S 1139 is sponsored by Tester, Jon (Democratic), Moran, Jerry (Republican), Heitkamp, Heidi (Democratic), and McCaskill, Claire (Democratic).
What is the current status of S 1139?
This bill died with 115th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track S 1139?
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Last checked for changes 3 months ago · updated continuously

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