American FIRST Act of 2025
Bank Regulators: Annual Reports on Work With Global Financial Groups
Legislative Progress
Key Points
- Requires the Federal Reserve, the Comptroller of the Currency, and the FDIC to file yearly reports to Congress about their work with certain global financial groups.
- The reports must name which global groups they joined, what those groups do, who belongs to them, and who funds them.
- Regulators must explain what positions they took in these global meetings, what came out of the meetings, and share the text (or public links) of final standards these groups adopted.
- If global standards could lead to changes in U.S. banking rules or supervision, the agencies must explain what changes they expect and why the benefits outweigh the costs.
- Adds a requirement for regular congressional testimony that also covers these global financial interactions, giving lawmakers more chances to question regulators.
Impact Analysis
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Milestones
Placed on the Union Calendar, Calendar No. 454.
The bill is now on the schedule for the full chamber to consider. It's in line for debate and a vote.
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-529.
Ordered to be Reported (Amended) by the Yeas and Nays: 29 - 23.
The committee approved this bill and is sending it to the full chamber for a vote. This is a significant step — most bills never get this far.
Committee Consideration and Mark-up Session Held
Committee Consideration and Mark-up Session Held
Votes
No votes have been recorded for this legislation yet.
News
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Source Information
Document Type
Congressional Bill
Official Title
American FIRST Act of 2025
Data Sources
Sponsor
Cosponsors
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