To provide for additional requirements when Federal banking agencies undertake rulemakings that implement policies of non-governmental international organizations, to require Federal banking agencies to report on certain covered international organizations, and for other purposes.
About This Bill
Committee
Latest Action · July 14, 2023
Referred to the House Committee on Financial Services.
Ensuring U.S. Authority over U.S. Banking Regulations Act
This bill requires specified banking regulatory entities to make certain disclosures when engaging with or implementing major rules to conform with recommendations from certain non-governmental international organizations.
Specifically, the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Federal Housing Finance Agency must submit to Congress notice, testimony, and a detailed economic analysis with respect to the proposed or final rule prior to its issuance.
Further, in order to engage with certain international organizations about climate-related financial risks, these entities must report on the entity's activities with the organization and the organization's funding sources.
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