Systemic Risk Authority Transparency Act
Bill requires 60- and 90-day reports when emergency powers are used in bank failures
Stalled
No legislative action in over 90 days.
Legislative Progress
Key Points
- When the government uses emergency powers to handle a bank failure that could hurt the wider economy, a nonpartisan watchdog must explain within 60 days and again at 6 months why it happened, what steps were taken, and the likely effects on banks and big depositors.
- The bank’s main regulator must release past exam reports and warning letters from the last 3 years, and spell out mismanagement by the bank’s leaders and any failures by regulators that added to the collapse.
- Reports must cover pay practices, board decisions, and the roles of auditors, credit raters, and lenders like the home loan bank system or the Federal Reserve, so the public can see the full picture.
- Most materials must be published, with personal customer details removed; regulators can delay up to 60 days in rare cases to protect stability, but must brief Congress and explain why.
- This does not change deposit insurance limits or create new bailouts; it adds sunlight and timelines that could discourage risky behavior and help families, workers, and small businesses understand what went wrong.
Impact Analysis
Personal Impact
How this policy affects specific groups of people
Milestones
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Motion to reconsider laid on the table Agreed to without objection.
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H4947)
The House fast-tracked this bill — limited debate, no amendments allowed, but needs two-thirds support to pass.
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H4947)
The House fast-tracked this bill — limited debate, no amendments allowed, but needs two-thirds support to pass.
DEBATE - The House proceeded with forty minutes of debate on H.R. 3716.
Votes
No votes have been recorded for this legislation yet.
Related News
2 articles
House panel advances ABA-backed bills on trigger leads, other topics
In its June 10 markup, the House Financial Services Committee advanced several measures, including H.R. 3716 to require GAO and the relevant bank regulator to publicly report on any use of the FDIC’s systemic risk authority in a bank failure.
House Democrats release bank reform bills
Roundup of 2023 proposals includes H.R. 4116, the earlier Systemic Risk Authority Transparency Act, to mandate GAO and regulator reports after any use of the systemic risk exception—context for the 2025 H.R. 3716 update.
Source Information
Document Type
Congressional Bill
Official Title
Systemic Risk Authority Transparency Act
Data Sources
Sponsor
Analysis generated by AI. Always verify with official sources.