FSOC Transparency and Accountability Act
Latest action. Ordered to be Reported (Amended) by the yeas and naysThe constitutional right of one-fifth of those present to force every member's vote onto the public record. The mechanism behind every roll call you can look up.Read the full definition (opens a new tab): 32 - 27.
FSOC Transparency and Accountability Act - Amends the Financial Stability Act of 2010 to repeal the nonapplicability of the Federal Advisory Committee Act (FACA) to the Financial Stability Oversight Council (thus applying FACA to the Council).
Declares the Council an agency for purposes of the "Government in the Sunshine Act" (and its open meeting requirements).
Revises the voting profile of Council members to single out the following member agencies as each having collectively one vote: (1) the Board of Governors of the Federal Reserve System, (2) the Securities and Exchange Commission (SEC), (3) the Federal Deposit Insurance Corporation (FDIC), (4) the Commodity Futures Trading Commission (CFTC), and (5) the National Credit Union Administration (NCUA) Board.
Directs such member agencies to: (1) determine their Council vote by using the voting process normally applicable to votes by their members, and (2) cast the one collective Council vote by the agency head.
Permits any Council member to select to have one or more individuals on the member's staff attend a meeting of the Council, including any meeting of representatives of the member agencies other than the members themselves.
Requires all Council meetings to be open to attendance and participation by members of specified congressional committees, including any meeting of representatives of the member agencies other than the members themselves.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Introduced in House" stage on April 3, 2014. It describes the bill, it is not the legal text.
Ordered to be Reported (Amended) by the Yeas and Nays: 32 - 27.
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Where is it in the process, and what happens next?
The latest action on file does not map to a stage Civibrief recognizes, so the page will not name one. The record's own words are the reliable fact here.
The record's latest action, on June 20, 2014: Ordered to be Reported (Amended) by the Yeas and Nays: 32 - 27.
How likely is it to become law?
Civibrief does not forecast outcomes and this page has no opinion about this one. What the record supports is a base rate, which is a fact about the whole pile, not a prediction about this measure.
In the 113th Congress (2013-14), 296 of the 9,091 bills and joint resolutions introduced became law, about 3.3 percent. That count covers every measure at every stage, including the many that never left committee.
This one has no outstanding steps listed above.
Has anyone actually voted on it?
No. No roll call in this Congress cites this measure. That is the ordinary outcome: most measures never reach a recorded floor vote, and a committee ends most of them simply by not acting.
A vote is not the only thing that happens to a measure. Hearings, markups, and referrals are all recorded actions, and none of them is a vote of the full chamber.
Who is behind it?
Scott Garrett (R-NJ) introduced it on April 3, 2014, and 13 members have since signed on as cosponsors.
They come from both major parties: 1 Democrat, 12 Republicans.
Cosponsoring is a formal signature on the text. It is not a commitment to vote for the measure, it does not bind anyone's party, and a long list of cosponsors is a measure of attention rather than of prospects.
How long has it been in play?
It was introduced on April 3, 2014, 4543 days ago. The most recent recorded action was 4465 days ago, on June 20, 2014.
Measures do not carry over. Anything the 113th Congress has not finished by January 3, 2015 dies when the term ends, and has to be introduced again from the start in the next Congress.
Every answer above is assembled from this measure's own record on Congress.gov and from published counts of what Congress has passed before. Civibrief does not predict outcomes and takes no position on any measure.
Vote history
- HouseOrdered to be Reported (Amended) by the Yeas and Nays: 32 - 27.
- SenateNot stated in the latest action
- PresidentNot stated in the latest action