United States 114th Congress Status: Died 1 R cosponsors

HR 3857 — To require the Board of Governors of the Federal Reserve System and the Financial Stability Oversight Council to carry out certain requirements under the Financial Stability Act of 2010 before making any new determination under section 113 of such Act, and for other purposes.

Last action — Placed on the Union Calendar, Calendar No. 689.

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  1. ✓
    Introduced
  2. Died in session

This bill died with 114th Congress. It reached “Introduced” 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This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

To require the Board of Governors of the Federal Reserve System and the Financial Stability Oversight Council to carry out certain requirements under the Financial Stability Act of 2010 before making any new determination under section 113 of such Act, and for other purposes. (Sec. 1) This bill prohibits the Financial Stability Oversight Council (FSOC) from determining under the Financial Stability Act of 2010 that certain nonbank financial companies shall be supervised by the Board of Governors of the Federal Reserve System and subject to prudential standards until 90 days after: the Federal Reserve Board establishes prudential standards for nonbank financial companies, the Federal Reserve Board promulgates criteria for exempting certain types or classes of U.S. or foreign nonbank financial companies from supervision, FSOC reevaluates within 2016 each such determination and rescinds any of them if the nonbank financial company in question no longer meets specified standards, and FSOC reports to Congress its reasons for not rescinding any determination.

Bill Text

We don't have the full text on file for this bill yet.

Read HR 3857 on the official United States source →

Action History

  1. Placed on the Union Calendar, Calendar No. 689.

  2. Reported by the Committee on Financial Services. H. Rept. 114-878.

  3. Ordered to be Reported by the Yeas and Nays: 33 - 24.

  4. Committee Consideration and Mark-up Session Held.

  5. Committee Consideration and Mark-up Session Held.

  6. Referred to the House Committee on Financial Services.

  7. Introduced in House

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 546 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (546)

546 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 HR 3857 do?
To require the Board of Governors of the Federal Reserve System and the Financial Stability Oversight Council to carry out certain requirements under the Financial Stability Act of 2010 before making any new determination under section 113 of such Act, and for other purposes. (Sec. 1) This bill prohibits the Financial Stability Oversight Council (FSOC) from determining under the Financial Stability Act of 2010 that certain nonbank financial companies shall be supervised by the Board of Governors of the Federal Reserve System and subject to prudential standards until 90 days after: the Federal Reserve Board establishes prudential standards for nonbank financial companies, the Federal Reserve Board promulgates criteria for exempting certain types or classes of U.S. or foreign nonbank financial companies from supervision, FSOC reevaluates within 2016 each such determination and rescinds any of them if the nonbank financial company in question no longer meets specified standards, and FSOC reports to Congress its reasons for not rescinding any determination.
Who sponsors HR 3857?
HR 3857 is sponsored by Luke Messer (R).
What is the current status of HR 3857?
This bill died with 114th Congress. It reached “Introduced” 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 HR 3857?
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