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H.R. 974: Federal Reserve Supervision Testimony Clarification Act

The text of the bill below is as of Feb 5, 2019 (Introduced).


I

116th CONGRESS

1st Session

H. R. 974

IN THE HOUSE OF REPRESENTATIVES

February 5, 2019

(for himself and Mr. Lucas) introduced the following bill; which was referred to the Committee on Financial Services

A BILL

To amend the Federal Reserve Act to require the Vice Chairman for Supervision of the Board of Governors of the Federal Reserve System to provide a written report, and for other purposes.

1.

Short title

This Act may be cited as the Federal Reserve Supervision Testimony Clarification Act.

2.

Vice Chairman for Supervision report requirement

Paragraph (12) of section 10 of the Federal Reserve Act (12 U.S.C. 247b) is amended—

(1)

by redesignating such paragraph as paragraph (11); and

(2)

in such paragraph—

(A)

by striking shall appear and inserting shall provide written testimony and appear; and

(B)

by adding at the end the following: If, at the time of any appearance described in this paragraph, the position of Vice Chairman for Supervision is vacant, the Chairman or their designee shall appear instead and provide the required written testimony..