American FIRST Act of 2025
Summary
What This Bill Does
The American FIRST Act of 2025 creates a transparency regime for U.S. banking regulators' participation in global financial regulatory and supervisory forums. The Federal Reserve Board must submit an annual report to Congress identifying each global financial forum in which it participates, the forum's purpose, members and observers, funding sources, internal Federal Reserve organization chart and staff oversight, issues under discussion, and positions taken by Federal Reserve representatives.
The Comptroller of the Currency must submit a parallel annual report covering the OCC's global forum participation, including the same type of forum list, membership information, funding sources, staff oversight, issues under discussion, and positions taken by OCC representatives. The bill also expands the Federal Reserve Vice Chair for Supervision's semiannual testimony to include interactions with global financial regulatory and supervisory forums, making international standard-setting part of routine congressional oversight.
Who Benefits and How
Congressional banking committees benefit from recurring visibility into how Federal Reserve and OCC officials participate in global financial forums. U.S. banks benefit because global standards that influence domestic supervision become easier to track and challenge. Community banks benefit if the reports show when international standards affect institutions that do not operate globally. Federal Reserve Board governors benefit from a clearer internal inventory of global forum participation. OCC leadership benefits from a public record that can justify or recalibrate international engagement.
Who Bears the Burden and How
Federal Reserve international-affairs staff must assemble annual reporting on forum purposes, funding, membership, issues, staff oversight, and agency positions. OCC international-affairs staff must prepare the same annual disclosures for the Comptroller. Federal Reserve supervisory policy staff and OCC supervisory policy staff must document positions taken in technical forums that may not currently be described publicly. The Vice Chair for Supervision must address global forum interactions during semiannual testimony. Global forum representatives may face more congressional scrutiny when U.S. regulators take positions abroad.
Key Provisions
- Requires an annual Federal Reserve report on global financial regulatory and supervisory forums.
- Requires the Federal Reserve report to identify forum purposes, participants, observers, funding, staff oversight, issues, and agency positions.
- Requires an annual Comptroller of the Currency report with the same global-forum disclosure categories.
- Adds global financial forum interactions to the Federal Reserve Vice Chair for Supervision's semiannual testimony.
- Gives congressional banking committees a recurring oversight record for international standard-setting.
- Forces domestic banking regulators to document how global forum positions align with statutory duties.
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
Requires the Federal Reserve Board and the Comptroller of the Currency to publish detailed annual reports on their participation in global financial regulatory and supervisory forums, and adds global-forum interactions to the Federal Reserve Vice Chair for Supervision's semiannual congressional testimony.
Key Policy Areas
Banking, Financial Regulation, International Standards, Congressional Oversight
Primary Purpose
Requires the Federal Reserve Board and the Comptroller of the Currency to publish detailed annual reports on their participation in global financial regulatory and supervisory forums, and adds global-forum interactions to the Federal Reserve Vice Chair for Supervision's semiannual congressional testimony.
Policy Domains
House resolution provisions
Identified Gains
- Congressional banking committees
- U.S. banks
- Community banks
- Federal Reserve Board governors
- OCC leadership
Identified Costs
- Federal Reserve international-affairs staff
- OCC international-affairs staff
- Federal Reserve supervisory policy staff
- OCC supervisory policy staff
- Vice Chair for Supervision
- Global forum representatives
Sponsors
Legislative Progress
ReportedPlaced on the Union Calendar, Calendar No. 454.
Reported (Amended) by the Committee on Financial Services. H. Rept. …
Additional sponsors: Mr. Rose, Mr. Sessions, Mr. Davidson, and Mr. …
Reported (Amended) by the Committee on Financial Services. H. Rept. …
Ordered to be Reported (Amended) by the Yeas and Nays: …
Committee Consideration and Mark-up Session Held
Committee Consideration and Mark-up Session Held
Introduced in House
Referred to the House Committee on Financial Services.
Mr. Loudermilk (for himself, Mr. Barr, and Mr. Flood) introduced …
Stakeholder Effects
cui bono?How this legislation distributes effects. Mention counts reflect frequency, not effect magnitude.
Comptroller of the Currency, OCC international-affairs staff, OCC supervisory policy staff
Congressional banking committees, House Financial Services Committee members, Senate Banking Committee members
National banks, U.S. banking organizations
Federal Reserve supervisory policy staff, Vice Chair for Supervision
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "fed"
- → Board of Governors of the Federal Reserve System
- "occ"
- → Comptroller of the Currency
- "vice_chair"
- → Vice Chair for Supervision
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