# 116-hr-6501: Systemic Risk Mitigation Act of 2020

116-hr-6501, Systemic Risk Mitigation Act of 2020, is a 116th Congress bill sponsored by Rep. García, Jesús G. "Chuy" [D-IL-4] (D-IL); status Referred to the House Committee on Financial Services. (as of 2025-11-18).

- Canonical: https://policyrisk.com/legislation/116-hr-6501
- As of: 2025-11-18
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 116-hr-6501
- Congress: 116
- Title: Systemic Risk Mitigation Act of 2020
- Status: Referred to the House Committee on Financial Services.
- Introduced: 2020-04-14
- Sponsor: Rep. García, Jesús G. "Chuy" [D-IL-4] (D-IL)
- Cosponsors: 9
- Policy area: Finance and Financial Sector
- Touches household money: no
- Last recorded action: 2025-11-18

## Summary

Systemic Risk Mitigation Act of 2020 This bill automatically designates certain nonbank financial companies as systemically important, which subjects these companies to certain prudential standards, including capital and liquidity rules, annual stress tests, and living wills requirements. This designation may be rescinded by the Financial Stability Oversight Council upon further review. The bill provides the council with rulemaking authority regarding an activity or practice that increases risk to the financial system. The bill creates the Climate Change Subcommittee within the council to address the risk climate change poses to the financial system. The bill also revises administrative provisions of the council, including those regarding staffing, funding, and meetings.

## Cosponsors (9)

- Rep. Porter, Katie [D-CA-47] (D-CA), 2020-04-14T00:00:00.000Z
- Rep. Grijalva, Raúl M. [D-AZ-7] (D-AZ), 2020-04-14T00:00:00.000Z
- Rep. Schakowsky, Janice D. [D-IL-9] (D-IL), 2020-04-14T00:00:00.000Z
- Rep. McGovern, James P. [D-MA-2] (D-MA), 2020-04-14T00:00:00.000Z
- Del. Norton, Eleanor Holmes [D-DC-At Large] (D-DC), 2020-04-14T00:00:00.000Z
- Rep. Davis, Danny K. [D-IL-7] (D-IL), 2020-04-14T00:00:00.000Z
- Rep. Jayapal, Pramila [D-WA-7] (D-WA), 2020-04-28T00:00:00.000Z
- Rep. Ocasio-Cortez, Alexandria [D-NY-14] (D-NY), 2020-04-28T00:00:00.000Z
- Rep. Levin, Mike [D-CA-49] (D-CA), 2020-06-26T00:00:00.000Z

## Related bills

- 116-hr-8015: Delivering for America Act
- 116-hr-7816: Abortion is Health Care Everywhere Act of 2020
- 116-hr-7517: Protect Access to Birth Control Act
- 116-hr-7120: George Floyd Justice in Policing Act of 2020
- 116-hr-7092: Great American Outdoors Act
- 116-hr-6820: Emergency Rental Assistance and Rental Market Stabilization Act of 2020

## Sources
- [116-hr-6501 on Congress.gov](https://www.congress.gov/bill/116th-congress/house-bill/6501)

## Related
- [116-hr-8015: Delivering for America Act](https://policyrisk.com/legislation/116-hr-8015)
- [116-hr-7816: Abortion is Health Care Everywhere Act of 2020](https://policyrisk.com/legislation/116-hr-7816)
- [116-hr-7517: Protect Access to Birth Control Act](https://policyrisk.com/legislation/116-hr-7517)
- [116-hr-7120: George Floyd Justice in Policing Act of 2020](https://policyrisk.com/legislation/116-hr-7120)
- [116-hr-7092: Great American Outdoors Act](https://policyrisk.com/legislation/116-hr-7092)
- [116-hr-6820: Emergency Rental Assistance and Rental Market Stabilization Act of 2020](https://policyrisk.com/legislation/116-hr-6820)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/116-hr-6501 (as of 2025-11-18).