H.R. 3682
Requires alternatives review before Federal Reserve oversight
Before a nonbank financial company can be put under Federal Reserve supervision, a council of regulators would first have to decide that other actions would not lower the risk the company poses.
- Applies to decisions about nonbank financial companies
- Must first find other actions would not address the risk to financial stability
- Designated companies face certain Federal Reserve supervision standards
Passed the House · Senate's turn