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Bill115th CongressFiled Nov 7, 2017Finance and Financial Sector
H.R. 4292

Financial Institution Living Will Improvement Act of 2017

Bill journey · stage 2 of 5

Under committee review

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What it doesSummary passed house amended (Jan 30, 2018)

Financial Institution Living Will Improvement Act of 2017

(Sec. 2) This bill amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to establish the frequency with which certain nonbank financial companies and bank holding companies shall be required to submit a "living will" (i.e., the company's plan for rapid and orderly resolution in the event of financial distress or failure) to the Federal Reserve Board (FRB), the Financial Stability Oversight Council, and the Federal Deposit Insurance Corporation (FDIC). Specifically, such companies shall be required to do so once every two years. (Current regulations generally require annual submission of plans.)

The FRB and the FDIC must provide feedback to a company regarding such a plan within six months.

What just happenedFeb 5, 2018

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

Who’s behind it

Rep. Zeldin, Lee M. [R-NY-1](R-NY)Sponsor
3 cosponsors2 D1 R
Read on Congress.gov
3cosponsors2committees17actions4related bills3subjects
  1. Feb 5, 2018IntroReferral

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

    Banking, Housing, and Urban Affairs Committee
  2. Jan 30, 2018FloorH38310

    Motion to reconsider laid on the table Agreed to without objection.

  3. Jan 30, 2018FloorH37300

    On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 414 - 0 (Roll no. 50).

  4. Jan 30, 2018Floor8000

    Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 414 - 0 (Roll no. 50).

  5. Jan 30, 2018FloorH30000

    Considered as unfinished business. (consideration: CR H725)

  6. Jan 29, 2018FloorH37220

    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.

  7. Jan 29, 2018FloorH8D000

    DEBATE - The House proceeded with forty minutes of debate on H.R. 4292.

  8. Jan 29, 2018FloorH30000

    Considered under suspension of the rules. (consideration: CR H650-652; text: CR H650-651)

  9. Jan 29, 2018FloorH30300

    Mr. Tipton moved to suspend the rules and pass the bill, as amended.

  10. Dec 14, 2017CalendarsH12410

    Placed on the Union Calendar, Calendar No. 345.

  11. Dec 14, 2017CommitteeH12200

    Reported (Amended) by the Committee on Financial Services. H. Rept. 115-465.

    Financial Services Committee
  12. Dec 14, 2017Committee5000

    Reported (Amended) by the Committee on Financial Services. H. Rept. 115-465.

    Financial Services Committee
  13. Nov 15, 2017Committee

    Ordered to be Reported (Amended) by the Yeas and Nays: 60 - 0.

    Financial Services Committee
  14. Nov 15, 2017Committee

    Committee Consideration and Mark-up Session Held.

    Financial Services Committee
  15. Nov 7, 2017IntroReferralH11100

    Referred to the House Committee on Financial Services.

    Financial Services Committee
  16. Nov 7, 2017IntroReferralIntro-H

    Introduced in House

  17. Nov 7, 2017IntroReferral1000

    Introduced in House

Passed House amendedJan 30, 201836

Financial Institution Living Will Improvement Act of 2017

(Sec. 2) This bill amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to establish the frequency with which certain nonbank financial companies and bank holding companies shall be required to submit a "living will" (i.e., the company's plan for rapid and orderly resolution in the event of financial distress or failure) to the Federal Reserve Board (FRB), the Financial Stability Oversight Council, and the Federal Deposit Insurance Corporation (FDIC). Specifically, such companies shall be required to do so once every two years. (Current regulations generally require annual submission of plans.)

The FRB and the FDIC must provide feedback to a company regarding such a plan within six months.

Reported to House with amendment(s)Dec 14, 201717

Financial Institution Living Will Improvement Act of 2017

This bill amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to establish the frequency with which certain nonbank financial companies and bank holding companies shall be required to submit a "living will" (i.e., the company's plan for rapid and orderly resolution in the event of financial distress or failure) to the Federal Reserve Board (FRB), the Financial Stability Oversight Council, and the Federal Deposit Insurance Corporation (FDIC). Specifically, such companies shall be required to do so once every two years. (Current regulations generally require annual submission of plans.)

The FRB and the FDIC must provide feedback to a company regarding such a plan within six months.

Introduced in HouseNov 7, 2017

Financial Institution Living Will Improvement Act of 2017

This bill amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to limit the frequency with which certain nonbank financial companies and bank holding companies shall be required to submit a "living will" (i.e., the company's plan for rapid and orderly resolution in the event of financial distress or failure) to the Federal Reserve Board (FRB), the Financial Stability Oversight Council, and the Federal Deposit Insurance Corporation (FDIC). Specifically, such companies shall be required to do so no more than once every two years. 

The FRB and the FDIC must provide feedback to a company regarding such a plan within six months.

Financial Institution Living Will Improvement Act of 2017 — Informed