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HR 7437 118th Congress House Finance and Financial Sector Computer security and identity theft Computers and information technology Intergovernmental relations Public contracts and procurement Technology assessment Technology transfer and commercialization

Fostering the Use of Technology to Uphold Regulatory Effectiveness in Supervision Act

Introduced: February 23, 2024 Introduced by: Houchin, Erin Republican · Indiana See on congress.gov
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 Everywhere this bill has been 6 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Nov 1, 2024
Placed on the Union Calendar, Calendar No. 615.
Nov 1, 2024
Reported (Amended) by the Committee on Financial Services. H. Rept. 118-728.
Apr 17, 2024
Ordered to be Reported in the Nature of a Substitute (Amended) by Voice Vote.
Apr 17, 2024
Committee Consideration and Mark-up Session Held
Feb 23, 2024
Referred to the House Committee on Financial Services.
Feb 23, 2024
Introduced in House
 Plain-English summary Congressional Research Service

Fostering the Use of Technology to Uphold Regulatory Effectiveness in Supervision Act

This bill requires the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the Consumer Financial Protection Bureau, and the National Credit Union Administration to assess the technology used by the entity and its capabilities to conduct real-time supervisory assessments.

Every five years, these entities must report to specified congressional committees. The report must contain an overview of the technology used in supervisory assessments and any anticipated upgrades, a description of procurement practices, an overview of the entity’s technology development workforce, and details regarding data sharing procedures.

What's happening now November 1, 2024

Placed on the Union Calendar, Calendar No. 615.

 Committees of jurisdiction 1
 Cosponsors 3
All 3 Democratic 2 Republican 1