To enhance Federal Deposit Insurance Corporation transparency.
Impact
The amendments proposed in HB3465 will have significant implications for how the FDIC operates, fostering a greater level of accountability and oversight from Congress. This increased transparency is intended to help lawmakers better understand the factors and data informing the FDIC's emergency decisions, which can affect the stability of financial institutions and overall economic health. The bill insists on documentation of analyses and justifications, adding layers of scrutiny to the FDIC's processes.
Summary
House Bill 3465 aims to enhance the transparency of the Federal Deposit Insurance Corporation (FDIC) by amending the Federal Deposit Insurance Act. The bill proposes changes to the notification procedures required prior to significant decisions made by the FDIC, particularly regarding emergency determinations. By requiring that the Congressional Committees on Financial Services and Banking, Housing, and Urban Affairs be notified prior to actions taken by the FDIC, the bill seeks to ensure that legislative oversight is upheld and that the rationale behind monetary decisions is communicated effectively.
Contention
Notable points of contention surrounding HB3465 could arise from perspectives that view increased governmental oversight as potentially restrictive to the FDIC's operational efficiency. While proponents argue that the measures are necessary to safeguard public trust and ensure better governance, critics may contend that they could slow down the response times necessary for immediate financial actions. Balancing the need for transparency with the practicalities of financial management could lead to further debates among legislators.
Campaign finance: contributions and expenditures; provision related to officeholders raising funds when facing a recall; modify, and require candidate to establish a separate account used for recall purposes. Amends secs. 3, 11, 12, 21, 24 & 52 of 1976 PA 388 (MCL 169.203 et seq.) & adds sec. 21b.
Campaign finance: contributions and expenditures; funds donated to a candidate for recall efforts; require candidate to establish a separate account used for recall purposes. Amends secs. 3, 11, 12, 21, 24 & 52 of 1976 PA 388 (MCL 169.203 et seq.) & adds sec. 21b.
A concurrent resolution recognizing wild rice as sacred and central to the culture and health of Indigenous Peoples in Minnesota and critical to the health and identity of all Minnesota citizens and ecosystems and establishing a commitment to passing legislation to protect wild rice and the freshwater resources upon which it depends.