H.R. 3556 would establish new requirements for several federal financial regulatory agencies: the Federal Deposit Insurance Corporation (FDIC), Federal Reserve, Financial Stability Oversight Council (FSOC), National Credit Union Administration (NCUA), Office of the Comptroller of the Currency (OCC), and Office of Financial Research (OFR).
The bill would require accelerated disclosure by the Federal Reserve concerning the borrowers and lenders that participate in certain lending and other programs authorized or conducted by the Board of Governors of the Federal Reserve or a Federal Reserve bank. In addition, the Federal Reserve, the Treasury, and the FDIC would be required to report to the Congress when the FDIC creates a program to guarantee the obligations of solvent insured depository institutions.
