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H.R. 2989: Financial Transparency Act of 2021

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To amend securities and banking laws to make the information reported to financial regulatory agencies electronically searchable, to further enable the development of RegTech and Artificial Intelligence applications, to put the United States on a path towards building a comprehensive Standard Business Reporting program to ultimately harmonize and reduce the private sector’s regulatory compliance burden, while enhancing transparency and accountability, and for other purposes.

The bill’s titles are written by its sponsor.

Sponsor and status

Carolyn Maloney

Sponsor. Representative for New York's 12th congressional district. Democrat.

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Last Updated: Oct 26, 2021
Length: 63 pages
Introduced
May 4, 2021
117th Congress (2021–2023)
Status

Passed House (Senate next) on Oct 25, 2021

This bill passed in the House on October 25, 2021 and goes to the Senate next for consideration.

Other activity may have occurred on another bill with identical or similar provisions.

Cosponsors

1 Cosponsor (1 Republican)

Prognosis
3% chance of being enacted according to Skopos Labs (details)
Source

Position statements

What legislators are saying

Reps. Maloney & McHenry Celebrate Passage of the Financial Transparency Act
    — Rep. Carolyn Maloney [D-NY12] (Sponsor) on Oct 25, 2021

the daily leader: monday, october 25, 2021
    — Rep. Steny Hoyer [D-MD5] on Oct 24, 2021

THIS WEEK IN CONGRESS - October 29, 2021
    — Rep. Gregorio Sablan [D-MP] on Nov 1, 2021

More statements at ProPublica Represent...

What stakeholders are saying

R Street Institute SpendingTracker.org estimates H.R. 2989 will add $1 million in new spending through 2031.

History

May 4, 2021
 
Introduced

Bills and resolutions are referred to committees which debate the bill before possibly sending it on to the whole chamber.

Oct 24, 2021
 
Text Published

Updated bill text was published as of Preprint (Suspension).

Oct 25, 2021
 
Passed House (Senate next)

The bill was passed in a vote in the House. It goes to the Senate next.

If this bill has further action, the following steps may occur next:
 
Passed Senate

 
Signed by the President

H.R. 2989 is a bill in the United States Congress.

A bill must be passed by both the House and Senate in identical form and then be signed by the President to become law.

Bills numbers restart every two years. That means there are other bills with the number H.R. 2989. This is the one from the 117th Congress.

How to cite this information.

We recommend the following MLA-formatted citation when using the information you see here in academic work:

“H.R. 2989 — 117th Congress: Financial Transparency Act of 2021.” www.GovTrack.us. 2021. September 26, 2022 <https://www.govtrack.us/congress/bills/117/hr2989>

Where is this information from?

GovTrack automatically collects legislative information from a variety of governmental and non-governmental sources. This page is sourced primarily from Congress.gov, the official portal of the United States Congress. Congress.gov is generally updated one day after events occur, and so legislative activity shown here may be one day behind. Data via the congress project.