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Financial Stability Oversight Council Improvement Act of 2025
Summary
This bill modifies the process the Financial Stability Oversight Council uses to designate large nonbank financial companies for supervision by the Federal Reserve Board. Before the Council can vote to place a nonbank financial company under Federal Reserve supervision, it must first determine that alternative regulatory approaches are inadequate or impracticable. The Council must consult with the company and its primary financial regulator and consider whether different actions by the Council, the regulatory agency, or the company itself (through a written plan) could address potential financial stability threats. The bill requires the Council to evaluate threats based on factors including the company's financial distress risk and its size, scope, interconnectedness, and the concentration of its activities. The bill has already passed the House of Representatives.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
- Rep. Foster, Bill [D-IL-11] (D-IL)
20 cosponsors
- Rep. Bynum, Janelle S. [D-OR-5] (D-OR)
- Rep. Cleaver, Emanuel [D-MO-5] (D-MO)
- Rep. De La Cruz, Monica [R-TX-15] (R-TX)
- Rep. Downing, Troy [R-MT-2] (R-MT)
- Rep. Gonzalez, Vicente [D-TX-34] (D-TX)
- Rep. Gottheimer, Josh [D-NJ-5] (D-NJ)
- Rep. Himes, James A. [D-CT-4] (D-CT)
- Rep. Houlahan, Chrissy [D-PA-6] (D-PA)
- Rep. Huizenga, Bill [R-MI-4] (R-MI)
- Rep. Kim, Young [R-CA-40] (R-CA)
- Rep. Lawler, Michael [R-NY-17] (R-NY)
- Rep. Lucas, Frank D. [R-OK-3] (R-OK)
- Rep. Meuser, Daniel [R-PA-9] (R-PA)
- Rep. Nunn, Zachary [R-IA-3] (R-IA)
- Rep. Pettersen, Brittany [D-CO-7] (D-CO)
- Rep. Schneider, Bradley Scott [D-IL-10] (D-IL)
- Rep. Scott, David [D-GA-13] (D-GA)
- Rep. Sherman, Brad [D-CA-32] (D-CA)
- Rep. Torres, Ritchie [D-NY-15] (D-NY)
- Rep. Wagner, Ann [R-MO-2] (R-MO)
Money behind the sponsor
Top reported contributors to Bill Foster’s campaign committee (2024 cycle) — who funds the bill’s sponsor, not a claim about this bill. Data from FEC.
- FERMILAB $22,943
- NULL $18,250
- BOSTON UNIVERSITY $17,800
- UNIVERSITY OF CHICAGO $17,560
- NORTHWESTERN UNIVERSITY $17,476
Organizations whose employees gave the most — itemized individual contributions grouped by the donor’s reported employer (FEC Schedule A). Full finance for Bill Foster → · Outside spending →
Actions (13)
- Feb 11, 2026 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. · senate
- Feb 9, 2026 Motion to reconsider laid on the table Agreed to without objection. · house
- Feb 9, 2026 On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H2074) · house
- Feb 9, 2026 Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H2074)
- Feb 9, 2026 DEBATE - The House proceeded with forty minutes of debate on H.R. 3682. · house
- Feb 9, 2026 Considered under suspension of the rules. (consideration: CR H2074-2076) · house
- Feb 9, 2026 Mr. Hill (AR) moved to suspend the rules and pass the bill, as amended. · house
- Nov 4, 2025 Placed on the Union Calendar, Calendar No. 316. · house
- Nov 4, 2025 Reported (Amended) by the Committee on Financial Services. H. Rept. 119-364. · house
- Sep 16, 2025 Ordered to be Reported (Amended) by the Yeas and Nays: 47 - 4. · house
- Sep 16, 2025 Committee Consideration and Mark-up Session Held · house
- Jun 3, 2025 Referred to the House Committee on Financial Services. · house
- Jun 3, 2025 Introduced in House
More bills on these subjects (8)
Other bills that carry the most legislative subjects in common with this one (topical discovery — distinct from the procedural related bills above).
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Text versions (4)
Bills are re-published as they move (Introduced → Reported → Engrossed → Enrolled …). Each stage below is a separate text; pick two to see what changed. Data from Congress.gov.
Full text
AN ACT
To amend the Financial Stability Act of 2010 to require the Financial Stability Oversight Council to consider alternative approaches before determining that a U.S. nonbank financial company shall be supervised by the Board of Governors of the Federal Reserve System, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the “Financial Stability Oversight Council Improvement Act of 2025”.
SEC. 2. FINANCIAL STABILITY OVERSIGHT COUNCIL.
Section 113 of the Financial Stability Act of 2010 (12 U.S.C. 5323) is amended—
(1) in subsection (a)—
(A) in paragraph (1), by striking “The Council” and inserting “Subject to paragraph (3), the Council”; and
(B) by adding at the end the following:
“(3) Initial determination.—The Council may not vote on a proposed determination with respect to a U.S. nonbank financial company under paragraph (1) unless the Council first determines, in consultation with the company and the primary financial regulatory agency with respect to the company, that a different action by the Council or the agency (including the application of new or heightened standards and safeguards under section 120), or by the company under a written plan that is submitted promptly to the Council, is impracticable or insufficient to mitigate the threat that material financial distress at the company, or the nature, scope, size, scale, concentration, interconnectedness, or mix of the activities of the company, could pose to the financial stability of the United States.”; and
(2) in subsection (f)(1), by striking “subsection (e)” and inserting “subsections (a)(3) and (e)”.
Passed the House of Representatives February 9, 2026.
Attest:
Clerk. 119th CONGRESS
2d Session
H. R. 3682
AN ACT
To amend the Financial Stability Act of 2010 to require the Financial Stability Oversight Council to consider alternative approaches before determining that a U.S. nonbank financial company shall be supervised by the Board of Governors of the Federal Reserve System, and for other purposes.
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