Ensuring U.S. Authority over U.S. Banking Regulations Act

HR 3355 requires U.S. banking regulators (including the Federal Reserve, FDIC, OCC, NCUA, and FHFA) to notify Congress 120 days before proposing or finalizing major rules that align with recommendations from non-governmental international financial organizations like the Basel Committee. A "major covered rule" is defined as one projected to impact the U.S. economy by $10 billion or more over 10 years. Regulators must submit detailed economic analyses covering costs, credit availability, GDP, and employment for such rules. The bill also mandates annual reports to Congress on climate-related engagements with covered international organizations, including funding sources and activities. This directly affects federal banking regulators' rulemaking processes but does not change banking requirements for financial institutions.