Transparency in Banking Act

S 2655, the Transparency in Banking Act, requires major U.S. banking regulators (Federal Reserve, OCC, FDIC, and Treasury) to publicly report details about their participation in international banking rulemaking. The bill mandates annual reports by January 31 each year to Congress and online, including who attends Basel Committee meetings, issues discussed, proposed U.S. standards, and U.S. representatives' positions. Regulators must also notify Congress within 30 days of significant changes to these plans, including meeting results and voting records. This directly affects how federal banking agencies conduct international regulatory work and share information with Congress. The law aims to increase transparency around U.S. involvement in global banking standards without altering the standards themselves.