Financial Institution Living Will Improvement Act of 2018
Latest action · Jun 14, 2018 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedJun 14, 2018
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Financial Institution Living Will Improvement Act of 2018
This bill amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to establish the frequency with which certain nonbank financial companies and bank holding companies shall be required to submit a "living will" (i.e., the company's plan for rapid and orderly resolution in the event of financial distress or failure) to the Federal Reserve Board (FRB), the Financial Stability Oversight Council, and the Federal Deposit Insurance Corporation (FDIC). Specifically, such companies shall be required to do so once every two years. (Current regulations generally require annual submission of plans.)
The FRB and the FDIC must provide feedback to a company regarding such a plan within six months.
Cosponsors 1
Members who signed on, in the order they did. All signed on Jun 14, 2018.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-AL | Doug Jones | Original | Jun 14, 2018 |
Actions 2
Everything that happened, newest first.
- Jun 14, 2018Introduced in Senate
- Jun 14, 2018Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Related bills 5
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 10 | Financial CHOICE Act of 2017 | Related bill | Jul 13, 2017 |
| HR 3280 | Financial Services and General Government Appropriations Act, 2018 | Related bill | Jul 26, 2017 |
| HR 3354 | Make America Secure and Prosperous Appropriations Act, 2018 | Related bill | Sep 27, 2017 |
| HR 4292 | Financial Institution Living Will Improvement Act of 2017 | Related bill | Feb 5, 2018 |
| HR 6258 | Financial Services and General Government Appropriations Act, 2019 | Related bill | Jun 28, 2018 |
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 1
Each version as it was printed, newest first.
- Jun 14, 2018Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.