skip to main content

H.R. 4292: Financial Institution Living Will Improvement Act of 2017
On Motion to Suspend the Rules and Pass, as Amended in the House

This was a vote to pass H.R. 4292 (115th) 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. 4292 amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to reform the resolution plan submission (“living will”) process by requiring bank holding companies to submit to the Federal Reserve Board (Federal Reserve) and the Federal Deposit Insurance Corporation (FDIC) resolution plans every two years. This bill also requires the Federal Reserve and FDIC to provide feedback regarding a submitted resolution plan within six months after a bank holding company submission. This bill also requires the Federal Reserve and FDIC to publicly disclose the assessment framework used to review the adequacy of resolution plans.

Section 165 of the Dodd-Frank Act requires bank holding companies with total consolidated assets of $50 billion or more (also known as systemically-important financial institutions (SIFIs)), and nonbank financial companies designated by the Financial Stability Oversight Council (FSOC) for supervision to annually submit detailed plans to the Federal Reserve and the Federal Deposit Insurance Company (FDIC) that describes the company's strategy for rapid and orderly resolution under the Bankruptcy Code in the event of its material financial distress or failure. If the Federal Reserve and FDIC jointly conclude that a SIFI has failed to produce a “credible” plan for its orderly resolution, they can take a series of punitive measures, including the imposition of “more stringent capital, leverage, or liquidity requirements, or restrictions on the growth, activities, or operations of the company, or any subsidiary thereof.” Failure to remedy the deficiencies identified by the prudential regulators can ultimately result in the Federal Reserve and FDIC ordering the firm to divest certain assets or operations.

As implemented by federal regulators, the living will process is an opaque and hugely expensive exercise for covered institutions. H.R. 4292 fixes many of these issues by providing a two year submission cycle. This bill also increases accountability by requiring regulators provide feedback to institutions within six months of plan submission, and greater transparency by disclosing the assessment framework.

Source: Republican Policy Committee


All Votes R D
Yea 96%
Nay 0%
Not Voting 4%

Passed. 2/3 Required. Jan 30, 2018 at 3:20 p.m. ET. Source:

Ideology Vote Chart

Key: R Yea D Yea
Seat position based on our ideology score.

Cartogram Map

Each hexagon represents one congressional district.

What you can do

Vote Details

Notes: The Speaker’s Vote? “Aye” or “Yea”?
Download as CSV

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