115th Congress > House > Vote 842

Date: April 11, 2018

Result: 297-121 (Passed)

Clerk session vote number: 135

Sponsor: ROSS, Dennis (R-FL)

Bill number: HR4061

Question: On Passage

Description: Financial Stability Oversight Council Improvement Act

Bill summary: Financial Stability Oversight Council Improvement Act of 2017 This bill amends the Financial Stability Act of 2010 to require the Financial Stability Oversight Council, in determining whether a nonbank financial company shall be designated as systematically important and consequently be supervised by the Federal Reserve Board and subject to prudential standards, to consider the appropriateness of imposing such standards as opposed to other forms of regulation to mitigate identified risks to U.S. financial stability. Every five years, the council must, upon request by a nonbank financial company, reevaluate such a determination and hold a vote on whether to rescind it. The bill revises procedural requirements related to council determinations.

Bill titles: To amend the Financial Stability Act of 2010 to improve the transparency of the Financial Stability Oversight Council, to improve the SIFI designation process, and for other purposes.

Links for more info on the vote: congress.gov

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