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To authorize implementation grants to community-based nonprofits to operate one-stop reentry centers.
HR8548Rep. Kamlager-Dove, Sydney [D-CA-37] (D-CA)
introduced
S3578119th CongressWALLET
Financial Stability Oversight Council Improvement Act of 2025
Sponsored By: Senator Mike Rounds
Introduced
Summary
Requires the Financial Stability Oversight Council (FSOC) to find that other actions are impracticable or insufficient before proposing that a U.S. nonbank financial company be supervised by the Federal Reserve. It would make FSOC consult the company and its primary financial regulator and consider company-submitted plans or heightened standards first.
Show full summary
- Nonbank financial companies: Get a formal chance to submit a written plan and push FSOC to show that other actions can’t mitigate the risk before a designation vote.
- Primary regulators and the Council: Must consult with each other and the company and explicitly weigh alternative agency actions, including new or heightened standards and safeguards under section 120.
- Federal Reserve oversight: Adds an initial-determination step to FSOC’s process and aligns voting references so FSOC evaluates alternatives before moving a company under Fed supervision.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
FSOC must try alternatives first
This bill would require the Financial Stability Oversight Council (FSOC) to make an initial finding before it votes to designate a U.S. nonbank financial company as systemically important. FSOC would have to consult with the company and the company's primary regulator first. FSOC would have to find that other actions — including new or heightened standards under section 120 — or a written plan promptly submitted by the company are impracticable or insufficient to reduce the risk. FSOC could not vote on the designation until it makes that finding, and the bill would update a related legal cross‑reference to include this new step.
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Sponsors & CoSponsors
Sponsor
Mike Rounds
SD • R
Cosponsors
Gary Peters
MI • D
Sponsored 12/18/2025
Sen. Gallego, Ruben [D-AZ]
AZ • D
Sponsored 2/4/2026
Sen. McCormick, David [R-PA]
PA • R
Sponsored 2/4/2026
Roll Call Votes
No roll call votes available for this bill.
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