Congress·In Committee·H.R. 1910
Chief Risk Officer Enforcement and Accountability Act
Congress would require big banks to appoint chief risk officers and limit growth if the job stays vacant
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Stalled
No legislative action in over 90 days.
Legislative Progress
House
Key Points
- Requires certain large banking firms to appoint a Chief Risk Officer to lead company-wide risk oversight.
- Sets clear duties for the Chief Risk Officer, like setting risk limits, tracking compliance, and reporting problems and new risks.
- Makes the Chief Risk Officer report directly to both the bank’s risk committee and the CEO, aiming to keep risk warnings from being ignored.
- If the role becomes vacant, the bank must tell regulators within 24 hours and submit a hiring plan within 7 days.
- If the job stays open for 60+ days, the bank must tell the public and is blocked from growing its total assets until it hires someone.
Impact Analysis
Personal Impact
How this policy affects specific groups of people
Mixed Impacts(1)
Milestones
2 milestones2 actions
Mar 6, 2025
Referred to the House Committee on Financial Services.
Mar 6, 2025
Introduced in House
The bill was officially filed and given a number. It now enters the legislative queue.
Votes
No votes have been recorded for this legislation yet.
News
No related news coverage found for this legislation yet.
Source Information
Document Type
Congressional Bill
Official Title
Chief Risk Officer Enforcement and Accountability Act
Bill NumberHR 1910
Congress119th Congress
ChamberHouse of Representatives
Latest ActionReferred to the House Committee on Financial Services.
Data Sources
Sponsor
Cosponsors
(5)D: 5
Analysis generated by AI. Always verify with official sources.