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H.R. 3682

U.S. House•In Senate Committee

Summary

H.R. 3682, the Financial Stability Oversight Council Improvement Act of 2025, was introduced in the House on Jun 3, 2025 by Rep. Bill Foster (D) with 20 co-sponsors. It was referred to Banking, Housing, And Urban Affairs, and last saw action on Feb 11, 2026: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Record

Text

H.R. 3682 has 20 co-sponsors.

hb3682/engrossed-in-house.txt
119 HR 3682 EH: Financial Stability Oversight Council Improvement Act of 2025
 U.S. House of Representatives
 text/xml
 EN
 Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
 IB
 119th CONGRESS  2d Session
 H. R. 3682
 IN THE HOUSE OF REPRESENTATIVES
 AN ACT
To amend the Financial Stability Act of 2010 to require the Financial Stability Oversight Council to consider alternative approaches before determining that a U.S. nonbank financial company shall be supervised by the Board of Governors of the Federal Reserve System, and for other purposes.
1.
Short title
This Act may be cited as the   Financial Stability Oversight Council Improvement Act of 2025  .
2.
Financial Stability Oversight Council
Section 113 of the Financial Stability Act of 2010 ( 12 U.S.C. 5323 ) is amended—
(1)
in subsection (a)—
(A)
in paragraph (1), by striking  The Council  and inserting  Subject to paragraph (3), the Council ; and
(B)
by adding at the end the following:
(3)
Initial determination
The Council may not vote on a proposed determination with respect to a U.S. nonbank financial company under paragraph (1) unless the Council first determines, in consultation with the company and the primary financial regulatory agency with respect to the company, that a different action by the Council or the agency (including the application of new or heightened standards and safeguards under section 120), or by the company under a written plan that is submitted promptly to the Council, is impracticable or insufficient to mitigate the threat that material financial distress at the company, or the nature, scope, size, scale, concentration, interconnectedness, or mix of the activities of the company, could pose to the financial stability of the United States.
 ; and
(2)
in subsection (f)(1), by striking  subsection (e)  and inserting  subsections (a)(3) and (e) .
     Passed the House of Representatives February 9, 2026.  Kevin F. McCumber,  Clerk.

Tracker

The tracker indicates the progress of this legislation as it moves through the legislative process.

  1. Introduced2025-06-03
  2. Passed House2026-02-09
  3. Passed Senate
  4. Conference
  5. To President
  6. Became Law

CRS Summary

The summaries are the Congressional Research Service’s, one per stage. Read them in full.

Introduced in House Jun 3, 2025

hb3682/introduced-in-house.md

Shown Here:
Introduced in House (06/03/2025)

Financial Stability Oversight Council Improvement Act of 2025

This bill requires the Financial Stability Oversight Council, prior to determining that a U.S. nonbank financial company shall be supervised by the Federal Reserve Board and therefore subject to certain prudential standards, to first determine that certain alternative actions would not mitigate the threat the company may pose to U.S. financial stability.

Sponsors

Rep. Bill Foster (D) sponsors H.R. 3682, and 20 members have co-sponsored it, 1 of them from the day it was introduced.

Committees

H.R. 3682 went before 2 committees: Banking, Housing, and Urban Affairs and Financial Services.

Banking, Housing, and Urban Affairs
Banking, Housing, and Urban Affairs
Referred To · Feb 11, 2026 · 465 Bills
Financial Services
Financial Services
Reported By · Nov 4, 2025 · 559 Bills

Reports

1 committee report has been filed on H.R. 3682, the latest H. Rept. 119-364.

  • H. Rept. 119-364 — FINANCIAL STABILITY OVERSIGHT COUNCIL IMPROVEMENT ACT OF 2025

Actions

H.R. 3682 has taken 13 actions since Jun 3, 2025, the latest on Feb 11, 2026.

ChamberAction
Feb 11, 2026
Senate
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.Banking, Housing, and Urban Affairs Committee
Feb 9, 202616:10
House
Mr. Hill (AR) moved to suspend the rules and pass the bill, as amended.
Feb 9, 202616:10
House
Considered under suspension of the rules. (consideration: CR H2074-2076)
Feb 9, 202616:10
House
DEBATE - The House proceeded with forty minutes of debate on H.R. 3682.
Feb 9, 202616:28
House
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H2074)

Votes

H.R. 3682 has not gone to a roll call.

1 bill is related to H.R. 3682, as Identical bill.

Titles

H.R. 3682 goes by 7 titles, 4 of them short titles.

  • Financial Stability Oversight Council Improvement Act of 2025 — Short Titles from RFS (Referred to Senate) bill text
  • Financial Stability Oversight Council Improvement Act of 2025 — Short Title(s) as Passed House
  • To amend the Financial Stability Act of 2010 to require the Financial Stability Oversight Council to consider alternative approaches before determining that a U.S. nonbank financial company shall be supervised by the Board of Governors of the Federal Reserve System, and for other purposes. — Official Titles from EH (Engrossed in House) bill text
  • Financial Stability Oversight Council Improvement Act of 2025 — Short Title(s) as Reported to House
  • Financial Stability Oversight Council Improvement Act of 2025 — Display Title
  • Financial Stability Oversight Council Improvement Act of 2025 — Short Title(s) as Introduced
  • To amend the Financial Stability Act of 2010 to require the Financial Stability Oversight Council to consider alternative approaches before determining that a U.S. nonbank financial company shall be supervised by the Board of Governors of the Federal Reserve System, and for other purposes. — Official Title as Introduced

Lobbying

16 clients hired 18 firms and 184 registered lobbyists who named H.R. 3682 in 66 quarterly filings, 2025 to 2026. Reported under the Lobbying Disclosure Act; a filing’s income covers everything its registrant worked that quarter, so the amounts below are the filings’, not this bill’s.

Filed under Financial Institutions/Investments/Securities, Taxation/Internal Revenue Code, Retirement, Insurance, Budget/Appropriations, Trade (domestic/foreign), Consumer Issues/Safety/Products, Labor Issues/Antitrust/Workplace.

Clients

Who paid to be heard, by how many filings named the bill.

ClientBusinessStateFirmsFilingsReported
INVESTMENT COMPANY INSTITUTETrade association for American and international investment companiesDistrict of Columbia313$260K
CHAMBER OF COMMERCE OF THE U.S.A.—District of Columbia16—
AMERICAN COUNCIL OF LIFE INSURERS—District of Columbia15—
FMR LLC—Massachusetts15—
MANAGED FUNDS ASSOCIATION—District of Columbia15—
VANGUARD GROUP—Pennsylvania15—
NAREIT—District of Columbia14—
PRUDENTIAL FINANCIAL INC—New Jersey14—
THE NORTHWESTERN MUTUAL LIFE INSURANCE COMPANY—Wisconsin14—
FRANKLIN RESOURCES, INC. (FRANKLIN TEMPLETON) AND AFFILIATESInvestment ManagerCalifornia13—
MORTGAGE BANKERS ASSOCIATION—District of Columbia13—
PACIFIC LIFE INSURANCE COMPANY—California13—
THE VANGUARD GROUP, INC.Mutual FundsPennsylvania12$120K
FINSECA—District of Columbia12—
ALTERNATIVE INVESTMENT MANAGEMENT ASSOCIATION——11—
AMERICANS FOR FINANCIAL REFORM—District of Columbia11—

Firms

Registrants who filed on the bill, by filings.

RegistrantClientsFilingsReported
CHAMBER OF COMMERCE OF THE U.S.A.16—
FS VECTOR LLC16$180K
AMERICAN COUNCIL OF LIFE INSURERS15—
FMR LLC15—
INVESTMENT COMPANY INSTITUTE15—
MANAGED FUNDS ASSOCIATION15—
VANGUARD GROUP15—
NAREIT14—
PRUDENTIAL FINANCIAL, INC.14—
THE NORTHWESTERN MUTUAL LIFE INSURANCE COMPANY14—
FRANKLIN RESOURCES, INC. (FRANKLIN TEMPLETON) AND AFFILIATES13—
MORTGAGE BANKERS ASSOCIATION13—
PACIFIC LIFE INSURANCE COMPANY13—
FINSECA12—
RESOLUTION PUBLIC AFFAIRS, LLC12$80K
WILLIAMS AND JENSEN, PLLC12$120K
ALTERNATIVE INVESTMENT MANAGEMENT ASSOCIATION11—
AMERICANS FOR FINANCIAL REFORM11—

Lobbyists

Named on the filings that cite the bill. The 20 named most often, of 184.

LobbyistFirmsClientsFilings
ABELARDO TORRES116
ALEXA BRANSON116
ANDREA PORWOLL116
ANDREW BARBOUR116
ASHLEY GUM116
BRADLEY WATTS116
BRINCE MANNING116
BROOKE MILLER116
CASSIA CARVALHO116
CHAD WHITEMAN116
CHANTEL SHEAKS116
CHRISTOPHER CRENSHAW116
CHRISTOPHER EYLER116
CHRISTOPHER GUITH116
CHRISTOPHER ROBERTI116
CLARK JACKSON116
DAN BYERS116
ERIN DELANEY116
ESPERANZA JELALIAN116
EVAN WILLIAMS226

Filings

The documents themselves, on the Senate’s Lobbying Disclosure site, largest reported first.

ClientRegistrantPeriodReportedDocument
CHAMBER OF COMMERCE OF THE U.S.A.CHAMBER OF COMMERCE OF THE U.S.A.2026 first_quarter$19.8M1st Quarter - Amendme…
CHAMBER OF COMMERCE OF THE U.S.A.CHAMBER OF COMMERCE OF THE U.S.A.2026 first_quarter$19.8M1st Quarter - Report
CHAMBER OF COMMERCE OF THE U.S.A.CHAMBER OF COMMERCE OF THE U.S.A.2025 second_quarter$19.3M2nd Quarter - Report
CHAMBER OF COMMERCE OF THE U.S.A.CHAMBER OF COMMERCE OF THE U.S.A.2025 fourth_quarter$18M4th Quarter - Report
CHAMBER OF COMMERCE OF THE U.S.A.CHAMBER OF COMMERCE OF THE U.S.A.2026 second_quarter$17M2nd Quarter - Report
CHAMBER OF COMMERCE OF THE U.S.A.CHAMBER OF COMMERCE OF THE U.S.A.2025 third_quarter$13.7M3rd Quarter - Report
AMERICAN COUNCIL OF LIFE INSURERSAMERICAN COUNCIL OF LIFE INSURERS2025 fourth_quarter$1.9M4th Quarter - Report
NAREITNAREIT2026 first_quarter$1.7M1st Quarter - Amendme…
NAREITNAREIT2026 first_quarter$1.7M1st Quarter - Report
MANAGED FUNDS ASSOCIATIONMANAGED FUNDS ASSOCIATION2026 first_quarter$1.6M1st Quarter - Report
INVESTMENT COMPANY INSTITUTEINVESTMENT COMPANY INSTITUTE2025 third_quarter$1.5M3rd Quarter - Report
AMERICAN COUNCIL OF LIFE INSURERSAMERICAN COUNCIL OF LIFE INSURERS2025 third_quarter$1.4M3rd Quarter - Report
MANAGED FUNDS ASSOCIATIONMANAGED FUNDS ASSOCIATION2025 second_quarter$1.3M2nd Quarter - Report
NAREITNAREIT2025 third_quarter$1.3M3rd Quarter - Report
INVESTMENT COMPANY INSTITUTEINVESTMENT COMPANY INSTITUTE2026 first_quarter$1.3M1st Quarter - Report
INVESTMENT COMPANY INSTITUTEINVESTMENT COMPANY INSTITUTE2025 second_quarter$1.3M2nd Quarter - Report
MANAGED FUNDS ASSOCIATIONMANAGED FUNDS ASSOCIATION2025 fourth_quarter$1.3M4th Quarter - Report
THE NORTHWESTERN MUTUAL LIFE INSURANCE COMPANYTHE NORTHWESTERN MUTUAL LIFE INSURANCE COMPANY2026 second_quarter$1.3M2nd Quarter - Report
NAREITNAREIT2025 fourth_quarter$1.2M4th Quarter - Report
INVESTMENT COMPANY INSTITUTEINVESTMENT COMPANY INSTITUTE2026 second_quarter$1.2M2nd Quarter - Report

Classification

The Congressional Research Service files H.R. 3682 under Finance and Financial Sector, one of its 31 policy areas, and gives it 3 legislative subjects.

CRS Subjects

CRS assigns every bill one policy area from its 31; H.R. 3682’s is Finance and Financial Sector.

hr3682/policy-areas.txt
Finance and Financial SectorAgriculture and FoodAnimalsArmed Forces and National SecurityArts, Culture, ReligionCivil Rights and Liberties, Minority IssuesCommerceCongressCrime and Law EnforcementEconomics and Public FinanceEducationEmergency ManagementEnergyEnvironmental ProtectionFamiliesForeign Trade and International FinanceGovernment Operations and PoliticsHealthHousing and Community DevelopmentImmigrationInternational AffairsLabor and EmploymentLawNative AmericansPublic Lands and Natural ResourcesScience, Technology, CommunicationsSocial WelfareSports and RecreationTaxationTransportation and Public WorksWater Resources Development

Legislative Subjects

H.R. 3682 carries 3 of CRS’s legislative subjects, from Congressional oversight to Financial services and investments.

hr3682/subjects.txt
Congressional oversightFinancial crises and stabilizationFinancial services and investments

Constitutional authority

The clause the sponsor cites as Congress’s power to enact H.R. 3682, as entered in the Congressional Record.

[Congressional Record Volume 171, Number 94 (Tuesday, June 3, 2025)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. FOSTER:H.R. 3682.Congress has the power to enact this legislation pursuantto the following:This bill is enacted pursuant to the power granted toCongress under Article I, Section 8, Clauses 1 and 18 of theUnited States Constitution.[Page H2419]

Source: congress.gov · legiscan.com