H.R. 3340 — what changed
Financial Stability Oversight Council Reform Act
From Introduced in House to Reported in House. 1 section amended between Introduced in House and Reported in House.
Sec. 4 Public notice and comment period
Section 153(c) of the Financial Stability Act of 2010 (12 U.S.C. 5343(c)) is amended by adding at the end the following:
changed
“(3) Public notice and comment period—The Office shall provide for a public notice and comment period of not less than 90 days before issuing any proposed report, rule, or regulation.”regulation.
added “(4) Additional report requirements
added “(A) In general—Except as provided under paragraph (3), the requirements under section 553 of title 5, United States Code, shall apply to a proposed report of the Office to the same extent as such requirements apply to a proposed rule of the Office.
added “(B) Exception for certain reports—This paragraph and paragraph (3) shall not apply to a report required under subsection (g)(1) or section 154(d)(1).”