To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to require voting members of the Financial Stability Oversight Council to testify before Congress at least twice each year when requested to do so or to otherwise permit certain Members of Congress to attend meetings of the Council whether or not such meetings are open to the public.

This bill amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to: (1) require each voting member of the Financial Stability Oversight Council to testify at least twice each year before the House Financial Services Committee and the Senate Banking, Housing, and Urban Affairs Committee if invited to do so; and (2) permit Members of Congress who serve on such committees to attend council meetings, regardless of whether such meetings are open to the public, if in any year a council member fails to testify at least twice before each such committee after being invited to do so.

[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4210 Introduced in House (IH)]

<DOC>






114th CONGRESS
  1st Session
                                H. R. 4210

To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act 
to require voting members of the Financial Stability Oversight Council 
 to testify before Congress at least twice each year when requested to 
  do so or to otherwise permit certain Members of Congress to attend 
 meetings of the Council whether or not such meetings are open to the 
                                public.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           December 10, 2015

Mr. Pittenger introduced the following bill; which was referred to the 
                    Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act 
to require voting members of the Financial Stability Oversight Council 
 to testify before Congress at least twice each year when requested to 
  do so or to otherwise permit certain Members of Congress to attend 
 meetings of the Council whether or not such meetings are open to the 
                                public.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. CONGRESSIONAL TESTIMONY OF MEMBERS OF THE FINANCIAL 
              STABILITY OVERSIGHT COUNCIL.

    Section 111 of the Dodd-Frank Wall Street Reform and Consumer 
Protection Act (12 U.S.C. 5321) is amended by adding at the end the 
following:
    ``(k) Testimony Before Congress.--Each member of the Council named 
in subsection (b)(1) shall testify at least twice each calendar year 
before the Committee on Financial Services of the House of 
Representatives and the Committee on Banking, Housing, and Urban 
Affairs of the Senate, when invited by such committees to testify. 
Members of Congress who serve as members of either such committee shall 
be permitted to attend any meeting of the Council regardless of whether 
the meeting is open to the public, if in any calendar year, any member 
of the Council who has been invited at least twice by each such 
committee fails to testify at least twice before each such 
committee.''.
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