# 114-hr-3557: FSOC Transparency and Accountability Act

114-hr-3557, FSOC Transparency and Accountability Act, is a 114th Congress bill sponsored by Rep. Garrett, Scott [R-NJ-5] (R-NJ); status Placed on the Union Calendar, Calendar No. 387. (as of 2025-11-18).

- Canonical: https://policyrisk.com/legislation/114-hr-3557
- As of: 2025-11-18
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 114-hr-3557
- Congress: 114
- Title: FSOC Transparency and Accountability Act
- Status: Placed on the Union Calendar, Calendar No. 387.
- Introduced: 2015-09-18
- Sponsor: Rep. Garrett, Scott [R-NJ-5] (R-NJ)
- Cosponsors: 5
- Policy area: Finance and Financial Sector
- Touches household money: no
- Last recorded action: 2025-11-18

## Summary

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 these 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.

## Cosponsors (5)

- Rep. Hurt, Robert [R-VA-5] (R-VA), 2015-09-18T00:00:00.000Z
- Rep. Wagner, Ann [R-MO-2] (R-MO), 2015-09-22T00:00:00.000Z
- Rep. Mulvaney, Mick [R-SC-5] (R-SC), 2015-09-29T00:00:00.000Z
- Rep. Emmer, Tom [R-MN-6] (R-MN), 2015-11-02T00:00:00.000Z
- Rep. Fincher, Stephen Lee [R-TN-8] (R-TN), 2015-11-02T00:00:00.000Z

## Related bills

- 114-hr-5143: Transparent Insurance Standards Act of 2016
- 114-hr-2896: TAILOR Act of 2015
- 114-hr-2802: First Amendment Defense Act
- 114-hr-1737: Reforming CFPB Indirect Auto Financing Guidance Act
- 114-hr-160: Protect Medical Innovation Act of 2015
- 114-hr-4768: Separation of Powers Restoration Act of 2016

## Sources
- [114-hr-3557 on Congress.gov](https://www.congress.gov/bill/114th-congress/house-bill/3557)

## Related
- [114-hr-5143: Transparent Insurance Standards Act of 2016](https://policyrisk.com/legislation/114-hr-5143)
- [114-hr-2896: TAILOR Act of 2015](https://policyrisk.com/legislation/114-hr-2896)
- [114-hr-2802: First Amendment Defense Act](https://policyrisk.com/legislation/114-hr-2802)
- [114-hr-1737: Reforming CFPB Indirect Auto Financing Guidance Act](https://policyrisk.com/legislation/114-hr-1737)
- [114-hr-160: Protect Medical Innovation Act of 2015](https://policyrisk.com/legislation/114-hr-160)
- [114-hr-4768: Separation of Powers Restoration Act of 2016](https://policyrisk.com/legislation/114-hr-4768)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/114-hr-3557 (as of 2025-11-18).