This bill requires large, systemically important banks to submit detailed annual reports to the Federal Reserve that go well beyond current financial disclosures. The reports would cover a wide range of topics including the banks' size and complexity, enforcement actions against them, employee misconduct and dismissals, trading activities, compensation practices and pay equity, diversity efforts, cybersecurity measures, climate risk and fossil fuel financing, environmental justice impacts, and artificial intelligence use. The legislation also mandates disclosure of whistleblower complaints, merger activities, and changes in these areas over the past decade. All reports would be made publicly available on the Federal Reserve's website, giving regulators and the public much greater insight into how the largest financial institutions operate and manage risks.
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