Congress requires reports on why big banks fail and what officials missed.
H.R. 3716 — Systemic Risk Authority Transparency Act · Filed by Al Green (D-TX) · Introduced Jun 4, 2025 · Passed chamber
Your members of Congress
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What it does
When a big bank fails, it could hurt the whole money system. Two groups must write reports about what happened. The Government Accountability Office has 60 days to look into what went wrong. It reports to Congress on what bank leaders did and what officials missed. Bank officials have 90 days to file their own detailed reports. These reports must be made public. Officials and Congress can agree to keep some parts secret.
Who it affects
Citizens and Congress learn more about bank failures and official mistakes. The public gets facts that were hidden or delayed before.
One thing to notice
Officials can delay reports by up to 60 days if money system safety is at risk. The rule for keeping facts secret is not clearly defined.
From the analysis of the bill text, linked under Primary records below.
Where it stands
- Jun 4, 2025 — Introduced · Congress.gov: “Introduced in House”
- Jun 4, 2025 — Referred to House Committee on Financial Services and Senate Committee on Banking, Housing, and Urban Affairs · Congress.gov: “Referred to the House Committee on Financial Services”
- Jun 10, 2025 — Markup held in committee · Congress.gov: “Committee Consideration and Mark-up Session Held”
- Jun 10, 2025 — Reported out of committee · Congress.gov: “Ordered to be Reported (Amended) by the Yeas and Nays: 51 - 0”
- Dec 1, 2025 — Passed the House · Congress.gov: “On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H4947)”
- Dec 1, 2025 — Floor vote scheduled · Congress.gov: “Mr. Davidson moved to suspend the rules and pass the bill, as amended”
Dates and quoted wording are Congress.gov's action record; the timeline shows status changes, not every procedural step.
Words to know
- Government Accountability Office — An agency that checks how the government spends money and follows its own rules.
- bank officials — Government agencies that watch over banks to make sure they follow the law.
- detailed reports — Written accounts with specific facts about what happened and what went wrong.
How this was measured
Analysis — Quorum's AI read the bill text published by Congress.gov (6,302 characters) on Jul 25, 2026. Section numbers in the findings refer to that text, linked below; transparency and hidden-provision scores are compared against the median of 14,358 analysed bills.
Status and sponsors — Congress.gov's bill record — actions, committee referrals and cosponsors — loaded nightly. The timeline shows status changes, not every procedural action.
As of — page rendered 2026-09-19.
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