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HR 3857 114th Congress House

To require the Board of Governors of the Federal Reserve System and the Financial Stability Oversight Council to carry out certain requirements under the Financial Stability Act of 2010 before making…

Official title: To require the Board of Governors of the Federal Reserve System and the Financial Stability Oversight Council to carry out certain requirements under the Finan… Show full official titleShow less

Official title: To require the Board of Governors of the Federal Reserve System and the Financial Stability Oversight Council to carry out certain requirements under the Financial Stability Act of 2010 before making any new determination under section 113 of such Act, and for other purposes.

Introduced: October 29, 2015 See on congress.gov
Finance and Financial Sector Administrative law and regulatory proceduresBanking and financial institutions regulationCongressional oversightFederal Reserve SystemFinancial services and investments
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This bill died when the 114th Congress ended
It never became law before the 114th Congress (2015–2016) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 7 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 16, 2016
Placed on the Union Calendar, Calendar No. 689.
Dec 16, 2016
Reported by the Committee on Financial Services. H. Rept. 114-878.
Nov 4, 2015
Ordered to be Reported by the Yeas and Nays: 33 - 24.
Nov 4, 2015
Committee Consideration and Mark-up Session Held.
Nov 3, 2015
Committee Consideration and Mark-up Session Held.
Oct 29, 2015
Referred to the House Committee on Financial Services.
Oct 29, 2015
Introduced in House
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 Latest action December 16, 2016

Placed on the Union Calendar, Calendar No. 689.

 Plain-English summary Congressional Research Service

(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

(Sec. 1) This bill prohibits the Financial Stability Oversight Council (FSOC) from determining under the Financial Stability Act of 2010 that certain nonbank financial companies shall be supervised by the Board of Governors of the Federal Reserve System and subject to prudential standards until 90 days after:

  • the Federal Reserve Board establishes prudential standards for nonbank financial companies,
  • the Federal Reserve Board promulgates criteria for exempting certain types or classes of U.S. or foreign nonbank financial companies from supervision,
  • FSOC reevaluates within 2016 each such determination and rescinds any of them if the nonbank financial company in question no longer meets specified standards, and
  • FSOC reports to Congress its reasons for not rescinding any determination.
 Bill text 2 versions

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). H.R. 3857: To require the Board of Governors of the Federal Reserve System and the Financial Stability Oversight Council to carry out certain requirements under the Financial Stability Act of 2010 before making any new determination under section 113 of such Act, and for other purposes.. 114th Congress. Open America. https://openamerica.io/bill/114-HR-3857/
MLA
"H.R. 3857: To require the Board of Governors of the Federal Reserve System and the Financial Stability Oversight Council to carry out certain requirements under the Financial Stability Act of 2010 before making any new determination under section 113 of such Act, and for other purposes.." 114th Congress, 2026, Open America, https://openamerica.io/bill/114-HR-3857/.
Bluebook (legal)
H.R. 3857, 114th Cong. (2026), https://openamerica.io/bill/114-HR-3857/.
Markdown link
[H.R. 3857: To require the Board of Governors of the Federal Reserve System and the Financial Stability Oversight Council to carry out certain requirements under the Financial Stability Act of 2010 before making any new determination under section 113 of such Act, and for other purposes.](https://openamerica.io/bill/114-HR-3857/)
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