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H.R. 3911: Risk-Based Credit Examination Act

This was a vote to pass H.R. 3911 in the House. This vote was taken under a House procedure called “suspension of the rules” which is typically used to pass non-controversial bills. Votes under suspension require a 2/3rds majority. A failed vote under suspension can be taken again.

H.R. 3911 amends the Securities Exchange Act of 1934 (Exchange Act) to make risk-based the annual reporting requirements of the Nationally Recognized Statistical Rating Organizations (NRSROs). Specifically, the legislation reduces the disproportionate burden the current reporting requirements impose on small NRSROs while still maintaining the necessary transparency in reporting requirements. Under current law, the Office of Credit Ratings (OCR) within the Securities and Exchange Commission (SEC) conducts an annual examination of NRSROs—also known as credit rating agencies-in eight specified review areas and produces an annual report on its findings, regardless of the level of risk the eight areas present for a specific NRSRO. H.R. 3911 allows the SEC to more efficiently and effectively harness its resources by authorizing the OCR to tailor these reviews depending on the risks presented by these eight areas.

Source: Republican Policy Committee

Totals

All Votes R D
Yea 90%
 
 
389
232
 
157
 
Nay 7%
 
 
32
1
 
31
 
Not Voting 3%
 
 
11
5
 
6
 

Date: Nov 7, 2017

Question: On Motion to Suspend the Rules and Pass in the House

Required: 2/3

Result: Passed

Source: house.gov

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Key: R Yea D Yea R Nay D Nay
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Vote Details

Notes: The Speaker’s Vote? “Aye” or “Yea”?
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Statistically Notable Votes

Statistically notable votes are the votes that are most surprising, or least predictable, given how other members of each voter’s party voted and other factors.

All Votes