HR 4737
Stop Executive Capture of Banking Regulators Act
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Bill overview
This bill, titled the Stop Executive Capture of Banking Regulators Act, requires federal banking agencies to get approval from Congress before implementing recommendations from the Financial Stability Oversight Council (FSOC) or actions outlined in Executive Orders. Specifically, these agencies – including the Federal Reserve, the Office of the Comptroller of the Currency, the FDIC, the NCUA, and the Federal Housing Finance Administration – must provide Congress with advance notice, a detailed implementation plan, and a justification for their actions. This aims to increase transparency and prevent undue influence on regulatory decisions.
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