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HR 2989 117th Congress House

Financial Transparency Act of 2021

Official title: To amend securities, commodities, and banking laws to make the information reported to financial regulatory agencies electronically searchable, to further enab… Show full official titleShow less

Official title: To amend securities, commodities, and banking laws to make the information reported to financial regulatory agencies electronically searchable, to further enable the development of RegTech and Artificial Intelligence applications, to put the United States on a path towards building a comprehensive Standard Business Reporting program to ultimately harmonize and reduce the private sector's regulatory compliance burden, while enhancing transparency and accountability, and for other purposes.

Introduced: May 4, 2021 See on congress.gov
Finance and Financial Sector Administrative law and regulatory proceduresBanking and financial institutions regulationCommodities marketsCommodity Futures Trading Commission
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Congressional oversightConsumer Financial Protection BureauCorporate finance and managementDepartment of the TreasuryFederal Deposit Insurance Corporation (FDIC)Federal Housing Finance AgencyFederal Reserve SystemFinancial services and investmentsGovernment information and archivesNational Credit Union AdministrationSecuritiesSecurities and Exchange Commission (SEC)State and local finance
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This bill died when the 117th Congress ended
It never became law before the 117th Congress (2021–2022) 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 11 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 26, 2021
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Oct 25, 2021
Motion to reconsider laid on the table Agreed to without objection.
Oct 25, 2021
On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 400 - 19 (Roll no. 333). (text: CR H5840-5846)
Oct 25, 2021
Considered as unfinished business. (consideration: CR H5854-5855)
Oct 25, 2021
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
Oct 25, 2021
DEBATE - The House proceeded with forty minutes of debate on H.R. 2989.
Oct 25, 2021
Considered under suspension of the rules. (consideration: CR H5840-5848)
Oct 25, 2021
Ms. Waters moved to suspend the rules and pass the bill, as amended.
Jun 21, 2021
Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.
May 4, 2021
Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
May 4, 2021
Introduced in House
 Votes taken on this bill 1
DateChamberWhat was voted onResultYes–No
Oct 25, 2021 House · vote #333 On Motion to Suspend the Rules and Pass, as Amended Passed 400–19 See who voted →
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 Latest action October 26, 2021

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Plain-English summary Congressional Research Service

Financial Transparency Act of 2021

This bill requires federal financial regulatory agencies to adopt specified data standards with respect to format, searchability, and transparency.

The bill also decreases, beginning September 30, 2031, the cap on the surplus funds of the Federal Reserve banks. (Amounts exceeding this cap are deposited in the general fund of the Treasury.)

 Related & companion bills 1
  • HR 4476 Reintroduction of Financial Transparency Act of 2019
 Bill text 3 versions

Source documents hosted by congress.gov.

 Committees of jurisdiction 4
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 2989: Financial Transparency Act of 2021. 117th Congress. Open America. https://openamerica.io/bill/117-HR-2989/
MLA
"H.R. 2989: Financial Transparency Act of 2021." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-HR-2989/.
Bluebook (legal)
H.R. 2989, 117th Cong. (2026), https://openamerica.io/bill/117-HR-2989/.
Markdown link
[H.R. 2989: Financial Transparency Act of 2021](https://openamerica.io/bill/117-HR-2989/)
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