hold on there's just too much going on in Congress lmao...
Requires large banks to submit annual detailed reports to the Federal Reserve.
Rep. Pressley (D-MA) and others.
Introduced in House, no vote yet.
This bill, known as the "GSIB Act of 2026," would require global systemically important bank holding companies (GSIBs) to submit comprehensive annual reports to the Board of Governors of the Federal Reserve System. These reports would cover a wide range of activities, from financial operations to social and environmental impacts. The bill was introduced by Representative Ayanna Pressley, a Democrat from Massachusetts, along with Representative Al Green of Texas and Representative Rashida Tlaib, and has been referred to the House Committee on Financial Services for consideration.
Introduced Feb 11, 2026
H.R. 7513 was introduced in the House of Representatives on February 11, 2026, and immediately referred to the Committee on Financial Services. Before it can move forward, the committee must review and approve the bill. If it passes the committee, it would then be eligible for a vote by the full House. If passed by the House, it would then move to the Senate for their consideration and vote before it could be signed into law by the President.
Should this bill become law, the public would gain access to a wealth of new information about the largest banks. The Federal Reserve would publish annual reports detailing their financial activities, internal policies, and compliance with various regulations, including the Volcker Rule. These reports would also shed light on banks' environmental risks, their support for minority institutions, how they use artificial intelligence, and any past enforcement actions. This increased transparency aims to provide a clearer picture of the banks' overall impact on the economy and society.
Supporters Say
Supporters would argue this bill increases transparency and accountability for the largest, most critical banks, improving oversight.
Critics Say
Critics might suggest these extensive reporting requirements create a significant burden for banks, potentially impacting their competitiveness.
Proponents of the bill would likely highlight its potential to enhance public trust and financial stability by requiring systemically important banks to disclose more about their operations, risks, and social responsibility. This could help regulators and the public better understand and monitor these institutions. Conversely, opponents might raise concerns about the administrative costs and resources banks would need to dedicate to comply with such detailed reporting, arguing it could divert resources from core banking activities or reveal proprietary business information.