The House Financial Services Committee announced this week that the House of Representatives advanced four bills introduced by committee members.
U.S. Rep. Maxine Waters (D-CA), committee chairwoman, sponsored the Sovereign Debt Contract Capacity Act (H.R. 4111), which
garnered approval by a vote of 391-29. It requires the Secretary of the Treasury to direct the International Monetary Fund Executive Director to advocate the Fund provide technical assistance to members seeking to evaluate the legal and financial terms of sovereign debt contracts.
U.S. Rep. Carolyn Maloney’s (D-NY) Financial Transparency Act of 2021 (H.R. 2989) passed by a vote of 400-19 and requires federal financial regulatory agencies to adopt specified data standards related to formatting, searchability, and transparency for information collected under current law.
H.R. 2989 creates a framework bolstering regulatory reporting, reduces compliance costs, and enhances the ability of investors, regulators, and market participants to analyze data.
U.S. Rep. Lisa McClain’s (R-MI) measure (H.R. 5142) advanced by a voice vote. It would posthumously award a Congressional Gold Medal in commemoration to service members who perished in Afghanistan on Aug. 26, 2021. The bill focuses on the evacuation of American citizens and Afghan allies at Hamid Karzai International Airport.
And the Financial Exploitation Prevention Act of 2021 (H.R. 2265), sponsored by U.S. Rep. Ann Wagner (R-MO), passed by voice vote, enabling the delay of the redemption of a security issued by an open-end investment management company.