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H.R. 3716119th CongressPassed one chamberLatest action Dec 2, 2025Decoded by AI · checked against the record
Official title: Systemic Risk Authority Transparency Act
Introduced:
Read the official bill on Congress.govThe plain-language version leads. The official text is always the reference.
HR 3716 would require GAO and bank regulators to publicly report why the "systemic risk exception" was used after a bank fails.
45-second read · 4 questions answered below
This bill sets new reporting requirements for when regulators invoke the "systemic risk exception," an emergency power that protects all deposits at a failed bank above the normal $250,000 insurance limit. GAO would review each use at 60 and 180 days, reporting to Congress on the causes, including possible executive mismanagement or regulatory failures. The bank's primary federal regulator would separately release detailed reports, including examination records, at 90 and 210 days, with limited redactions allowed.
Federal banking regulators like the Federal Reserve, FDIC, and OCC face new deadlines and disclosure duties; large banks that might fail in the future would have executive decisions and mismanagement more publicly documented.
Congress and the public would gain more detailed information about why a bank failed and how regulators and executives responded, though agencies could withhold some sensitive material with justification to congressional committees.
AI-drafted summary. Verify it against the official text before you act on it. Read the official bill on Congress.gov
Right now: it passed the House, and the official record shows nothing new since. If the Senate changes it, it goes back to the House before reaching the President.
Latest action: — Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.