Maddy summaryHR 3555, the Banking Regulator Accountability Act, requires four major financial regulators - the Federal Reserve, FDIC, Comptroller of the Currency, and National Credit Union Administration - to submit detailed semi-annual reports to Congress on their supervision of banks and credit unions. The reports must include aggregate data on firm conditions, supervisory actions, enforcement history, and organizational structure, broken down by institution size. Regulators must also provide confidential reports identifying specific institutions with poor ratings or active enforcement actions. This bill directly affects the regulators by mandating greater transparency in their oversight processes. It aims to provide Congress with consistent, data-driven insights into financial supervision without altering regulatory standards or enforcement authority.
Sponsored bills
Maddy summaryHR 3007, the Mammoth Cave National Park Boundary Adjustment Act of 2023, would add approximately 980 acres of land in Edmonson and Barren Counties, Kentucky, to Mammoth Cave National Park. The bill directs the National Park Service to acquire this specific land, as shown on a 2022 map, for inclusion in the park. This adjustment expands the park's boundaries to incorporate privately owned land adjacent to the existing park area. The change affects landowners in the designated area by transferring their property into federal park management. The bill does not alter park operations or fees but formally extends the park's protected boundaries.
Maddy summaryThis bill clarifies that the Department of Housing and Urban Development (HUD) has final authority over energy efficiency standards for manufactured housing. It requires any energy standards developed under federal law (like those from the Energy Independence and Security Act) to be formally adopted into HUD's manufactured housing construction standards before becoming enforceable. The bill directly affects manufactured housing manufacturers and HUD, as it ensures HUD - not other agencies - controls which energy standards apply. Key provisions eliminate references to the International Energy Conservation Code (IECC) and establish HUD as the sole authority for adopting these standards into its code. This streamlines the process but does not create new energy requirements.
Maddy summaryHCONRES 46, the "Fiscal State of the Nation Resolution," requires the House and Senate Budget Committees to hold an annual joint hearing within 45 days of the Treasury's submission of the federal government's audited financial statement. At this hearing, the Comptroller General will present an objective, nonpartisan analysis of the government's financial condition, including deficits, surpluses, and long-term fiscal projections, as required by the Government Accountability Office's standards. The hearing must be open to the public and allow all members of Congress to participate, regardless of committee membership. This resolution ensures Congress receives regular, factual reviews of federal finances without political bias.
Maddy summaryThe ADA Improvement Act of 2023 requires that before filing a lawsuit under the Americans with Disabilities Act (ADA), a plaintiff must first provide written notice of an alleged violation to the defendant via registered mail. This notice must specify the location, date, and nature of the violation, and the plaintiff must wait 30 days for the defendant to correct the issue before suing. The law applies to most ADA-related civil actions but excludes emergency cases seeking immediate court orders to stop ongoing violations. This change aims to give businesses a chance to address accessibility problems before legal action begins.
Maddy summaryHR 3541, the Accounting STEM Pursuit Act of 2023, amends the Elementary and Secondary Education Act to include accounting education in school curricula. It requires schools to offer accounting career awareness and programs, particularly to students from groups underrepresented in accounting careers. The bill positions accounting as a STEM field and aims to expand student exposure to accounting through grade 12 courses. This change directly affects K-12 students and schools by integrating accounting into educational opportunities to diversify the future accounting workforce.
Maddy summaryHR 3467 enhances transparency by requiring the Federal Reserve to provide specific information to congressional committees. It mandates that the Fed share details about credit facilities and nonpublic personal data with the House Financial Services and Senate Banking committees, with confidentiality safeguards allowing the Chair to redact sensitive portions. The bill shortens reporting timelines from 24 to 12 months for certain disclosures and adds requirements for the Fed to include taxpayer cost estimates in reports. These changes directly affect the Federal Reserve Board’s reporting obligations to Congress under the Federal Reserve Act and the Dodd-Frank Act. The provisions aim to improve congressional oversight while maintaining appropriate confidentiality for sensitive information.
Maddy summaryThis bill requires the Federal Deposit Insurance Corporation (FDIC) to provide Congress with more detailed explanations of its emergency decisions. Specifically, it mandates that the FDIC submit all relevant documentation - including staff analyses and memoranda - within 3 days and detailed justifications (including data and metrics) within 30 days of making an emergency determination. These requirements apply to the FDIC's Board of Directors, the Federal Reserve Board, and the Treasury Secretary, directly affecting how these agencies communicate with the House Financial Services Committee and Senate Banking Committee.
Maddy summaryHR 3466 would increase transparency around the Financial Stability Oversight Council (FSOC) by requiring it to notify Congress before taking certain actions. The bill mandates that the FSOC provide advance notice to congressional leaders before making determinations, implementing recommendations, or requiring reports from financial regulatory agencies. It establishes waiting periods (30-90 days) before certain actions can take effect after notification, and requires the FSOC to report detailed employee information to Congress monthly. This bill directly affects the FSOC's operations and its relationship with congressional committees overseeing financial regulation.
Affordable Homeownership Access Act This bill exempts from certain mortgage licensing and registration requirements a person (other than a depository institution) who engages in owner financing. Owner financers (1) originate a limited number of residential mortgage loans in a year, and (2) only originate residential mortgages with respect to property owned by the owner financer.