H.Res. 671: H.R. 3340 – Financial Stability Oversight Council Reform Act; H.R. 3791 – To raise the consolidated assets threshold under the small bank holding company policy statement, and for other purposes

COMMITTEE ACTION: REPORTED BY VOICE VOTE on Tuesday, April 12, 2016.
FLOOR ACTION: ADOPTED BY A RECORD VOTE OF 242-182 AFTER ORDERING THE PREVIOUS QUESTION BY A RECORD VOTE OF 243-182 on Wednesday, April 13, 2016.

MANAGERS: Hastings/Stivers

114th Congress

2nd Session

Rule

H.RES. 671

Report No. 114-489

 

H.R. 3340 - Financial Stability Oversight Council Reform Act

H.R. 3791 - To raise the consolidated assets threshold under the small bank holding company policy statement, and for other purposes

  1. Structured rule for H.R. 3340.
  2. Provides one hour of debate equally divided and controlled by the chair and ranking minority member of the Committee on Financial Services.
  3. Waives all points of order against consideration of the bill.
  4. Provides that the amendment in the nature of a substitute recommended by the Committee on Financial Services now printed in the bill shall be considered as adopted and the bill, as amended, shall be considered as read.
  5. Waives all points of order against provisions in the bill, as amended.
  6. Makes in order only the further amendment printed in part A of the Rules Committee report, if offered by the Member designated in the report, which shall be considered as read, shall be debatable for the time specified in the report equally divided and controlled by the proponent and an opponent, shall not be subject to amendment, and shall not be subject to a demand for division of the question.
  7. Waives all points of order against the amendment printed in part A of the report.
  8. Provides one motion to recommit with or without instructions.
  9. Structured rule for H.R. 3791.
  10. Provides one hour of debate equally divided and controlled by the chair and ranking minority member of the Committee on Financial Services.
  11. Waives all points of order against consideration of the bill.
  12. Provides that the bill shall be considered as read.
  13. Waives all points of order against provisions in the bill.
  14. Makes in order only the amendment printed in part B of the Rules Committee report, if offered by the Member designated in the report, which shall be considered as read, shall be debatable for the time specified in the report equally divided and controlled by the proponent and an opponent, shall not be subject to amendment, and shall not be subject to a demand for division of the question.
  15. Waives all points of order against the amendment printed in part B of the report.
  16. Provides one motion to recommit with or without instructions.

 

RESOLUTION

Resolved, That upon adoption of this resolution it shall be in order to consider in the House the bill (H.R. 3340) to place the Financial Stability Oversight Council and the Office of Financial Research under the regular appropriations process, to provide for certain quarterly reporting and public notice and comment requirements for the Office of Financial Research, and for other purposes. All points of order against consideration of the bill are waived. The amendment in the nature of a substitute recommended by the Committee on Financial Services now printed in the bill shall be considered as adopted. The bill, as amended, shall be considered as read. All points of order against provisions in the bill, as amended, are waived. The previous question shall be considered as ordered on the bill, as amended, and on any further amendment thereto, to final passage without intervening motion except: (1) one hour of debate equally divided and controlled by the chair and ranking minority member of the Committee on Financial Services; (2) the further amendment printed in part A of the report of the Committee on Rules accompanying this resolution, if offered by the Member designated in the report, which shall be in order without intervention of any point of order, shall be considered as read, shall be separately debatable for the time specified in the report equally divided and controlled by the proponent and an opponent, and shall not be subject to a demand for division of the question; and (3) one motion to recommit with or without instructions.

Sec. 2. Upon adoption of this resolution it shall be in order to consider in the House the bill (H.R. 3791) to raise the consolidated assets threshold under the small bank holding company policy statement, and for other purposes. All points of order against consideration of the bill are waived. The bill shall be considered as read. All points of order against provisions in the bill are waived. The previous question shall be considered as ordered on the bill and on any amendment thereto to final passage without intervening motion except: (1) one hour of debate equally divided and controlled by the chair and ranking minority member of the Committee on Financial Services; (2) the amendment printed in part B of the report of the Committee on Rules accompanying this resolution, if offered by the Member designated in the report, which shall be in order without intervention of any point of order, shall be considered as read, shall be separately debatable for the time specified in the report equally divided and controlled by the proponent and an opponent, and shall not be subject to a demand for a division of the question; and (3) one motion to recommit with or without instructions.

 

SUMMARY OF AMENDMENT TO H.R. 3340 IN PART A PROPOSED TO BE MADE IN ORDER

(summaries derived from information provided by sponsors)

Sponsor

#

Description

Debate Time

1. Royce (CA)

1

Requires the Office of Financial Research (OFR) of the Department of Treasury to publish an annual work plan, develop and implement a cybersecurity plan, and collaborate with relevant regulatory agencies when preparing public reports, which shall also be subject to public notice and comment.

(10 minutes)

 

SUMMARY OF AMENDMENT TO H.R. 3791 IN PART B PROPOSED TO BE MADE IN ORDER

(summaries derived from information provided by sponsors)

Sponsor

#

Description

Debate Time

1. Kelly, Robin (IL)

1

(REVISED) Limits the asset threshold increase to $5 Billion for bank holding companies and savings and loan holding companies which have submitted to the Board of Governors of the Federal Reserve System a credible plan to expand access to banking accounts and services, consumer and small business credit products, and bank branches in rural, low-income, minority, and otherwise under-served communities.

(10 minutes)