To amend the Federal Deposit Insurance Act to require reports on the use of the systemic risk authority applicable to winding up a failed insured depository institution, and for other purposes.
Sponsors
Legislative Progress
Passed HouseReceived; read twice and referred to the Committee on Banking, …
Passed House (inferred from eh version)
Reported with an amendment, committed to the Committee of the …
Mr. Green of Texas introduced the following bill; which was …
Summary
What This Bill Does
This bill requires the GAO to review and report to Congress within 60 days (and again at 180 days) whenever the FDIC invokes systemic risk authority to wind up a failed bank, covering the basis for determination and management failures.
Who Benefits and How
Congress and the public benefit from transparency on systemic risk determinations. Depositors benefit from clearer understanding of bank failure decisions.
Who Bears the Burden and How
GAO must conduct rapid reviews. FDIC faces increased oversight and accountability for systemic risk decisions.
Key Provisions
- GAO review within 60 days of systemic risk determination
- Follow-up report at 180 days
- Must cover basis for determination and bank mismanagement
Evidence Chain:
This summary is derived from the structured analysis below. See "Detailed Analysis" for per-title beneficiaries/burden bearers with clause-level evidence links.
Primary Purpose
Requires GAO reports on FDIC systemic risk authority use when winding up failed banks
Policy Domains
Main Bill
Likely Beneficiaries
- Congress
- Depositors
- General public
Inferred from context, no direct clause evidence
Likely Burden Bearers
- GAO
- FDIC
Inferred from context, no direct clause evidence
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology