This bill requires the Financial Stability Oversight Council, a federal agency that monitors risks to the nation's financial system, to produce annual reports to Congress assessing how illegal immigration might threaten the financial stability of the United States. The legislation also directs the council to include recommendations for addressing any financial challenges associated with illegal immigration in its reporting. The bill affects the Financial Stability Oversight Council's reporting requirements but does not authorize new funding or establish a specific timeline beyond the annual reporting mandate. This measure was introduced in January 2024 and referred to the House Committee on Financial Services.