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HR 6501 116th Congress House Finance and Financial Sector Advisory bodies Banking and financial institutions regulation Climate change and greenhouse gases Executive agency funding and structure Financial crises and stabilization Government employee pay, benefits, personnel management Government ethics and transparency, public corruption Government information and archives Government studies and investigations

Systemic Risk Mitigation Act of 2020

Introduced: April 14, 2020 Introduced by: García, Jesús G. "Chuy" Democratic · Illinois See on congress.gov
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This bill died when the 116th Congress ended
It never became law before the 116th Congress (2019–2020) 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 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 14, 2020
Referred to the House Committee on Financial Services.
Apr 14, 2020
Sponsor introductory remarks on measure. (CR E364-365)
Apr 14, 2020
Introduced in House
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 Plain-English summary Congressional Research Service

Systemic Risk Mitigation Act of 2020

This bill automatically designates certain nonbank financial companies as systemically important, which subjects these companies to certain prudential standards, including capital and liquidity rules, annual stress tests, and living wills requirements. This designation may be rescinded by the Financial Stability Oversight Council upon further review.

The bill provides the council with rulemaking authority regarding an activity or practice that increases risk to the financial system.

The bill creates the Climate Change Subcommittee within the council to address the risk climate change poses to the financial system.

The bill also revises administrative provisions of the council, including those regarding staffing, funding, and meetings.

What's happening now April 14, 2020

Referred to the House Committee on Financial Services.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 7
All 7 Democratic 7
D
Levin, Mike
California · Jun 26, 2020
 D
Jayapal, Pramila
Washington · Apr 28, 2020
 D
Ocasio-Cortez, Alexandria
New York · Apr 28, 2020
 D
Davis, Danny K.
Illinois · Apr 14, 2020
 D
McGovern, James P.
Massachusetts · Apr 14, 2020
 D
Norton, Eleanor Holmes
District of Columbia · Apr 14, 2020
 D
Schakowsky, Janice D.
Illinois · Apr 14, 2020
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 6501: Systemic Risk Mitigation Act of 2020. 116th Congress. Open America. https://openamerica.io/bill/116-HR-6501/
MLA
"H.R. 6501: Systemic Risk Mitigation Act of 2020." 116th Congress, 2026, Open America, https://openamerica.io/bill/116-HR-6501/.
Bluebook (legal)
H.R. 6501, 116th Cong. (2026), https://openamerica.io/bill/116-HR-6501/.
Markdown link
[H.R. 6501: Systemic Risk Mitigation Act of 2020](https://openamerica.io/bill/116-HR-6501/)
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