H.R. 2989 · 117th Congress

Financial Transparency Act of 2021

Introduced on May 4, 2021 by Carolyn B. Maloney (D-NY-12). One cosponsor. Latest action (Oct 26, 2021): Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Stage
Passed one chamber
Introduced
May 4, 2021
Cosponsors
1
1 from the other party
Policy area
Finance and Financial Sector
Open in the Congress explorerCongress.govAlert me

Progress

The furthest stage the measure reached. Simple and concurrent resolutions do not go to the President.

  1. Introduced
  2. Reported by committee
  3. Passed one chamber
  4. 4Passed both chambers
  5. 5Sent to the President
  6. 6Became law

Official title

To amend securities and banking laws to make the information reported to financial regulatory agencies electronically searchable, to further enable the development of RegTech and Artificial Intelligence applications, to put the United States on a path towards building a comprehensive Standard Business Reporting program to ultimately harmonize and reduce the private sector’s regulatory compliance burden, while enhancing transparency and accountability, and for other purposes.

Subjects

  • Administrative law and regulatory procedures
  • Banking and financial institutions regulation
  • Commodities markets
  • Commodity Futures Trading Commission
  • Congressional oversight
  • Consumer Financial Protection Bureau
  • Corporate finance and management
  • Department of the Treasury
  • Federal Deposit Insurance Corporation (FDIC)
  • Federal Housing Finance Agency
  • Federal Reserve System
  • Financial services and investments
  • Government information and archives
  • National Credit Union Administration
  • Securities
  • Securities and Exchange Commission (SEC)
  • State and local finance

Summary

By the Congressional Research Service (Passed House, Oct 25, 2021). Public domain.

Financial Transparency Act of 2021

This bill requires federal financial regulatory agencies to adopt specified data standards with respect to format, searchability, and transparency.

The bill also decreases, beginning September 30, 2031, the cap on the surplus funds of the Federal Reserve banks. (Amounts exceeding this cap are deposited in the general fund of the Treasury.)

Sponsor and cosponsors

Cosponsors by party as of the day they signed on. Original cosponsors signed on the day of introduction.

Carolyn B. MaloneyD-NY-12Sponsor

Republicans · 1

Roll calls

Recorded votes on the measure. Most measures move by voice vote or unanimous consent, which record no individual positions.

  1. On Motion to Suspend the Rules and Pass, as Amended
    Oct 25, 2021· House· Passage· Passed 400–19

History

Every action as published, oldest first. Roll calls link to how each member voted.

  1. May 4, 2021Introduced in House
  2. May 4, 2021Introduced in House
  3. May 4, 2021 · HouseReferred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
  4. May 4, 2021 · HouseReferred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
  5. Jun 21, 2021 · HouseReferred to the Subcommittee on Commodity Exchanges, Energy, and Credit.
  6. Oct 25, 2021 · HouseMs. Waters moved to suspend the rules and pass the bill, as amended.
  7. Oct 25, 2021 · HouseConsidered under suspension of the rules. (consideration: CR H5840-5848)
  8. Oct 25, 2021 · HouseDEBATE - The House proceeded with forty minutes of debate on H.R. 2989.
  9. Oct 25, 2021 · HouseAt the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
  10. Oct 25, 2021 · HouseConsidered as unfinished business. (consideration: CR H5854-5855)
  11. Oct 25, 2021Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 400 - 19 (Roll no. 333).(text: CR H5840-5846)House · Roll call 333
  12. Oct 25, 2021 · HouseOn motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 400 - 19 (Roll no. 333). (text: CR H5840-5846)House · Roll call 333
  13. Oct 25, 2021 · HouseMotion to reconsider laid on the table Agreed to without objection.
  14. Oct 26, 2021 · SenateReceived in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Committees

Committees and subcommittees the measure was referred to.

Agencies in its committees' jurisdiction

Analisa's mapping of committee jurisdiction to federal agencies; the bill may touch others, or none of these.

Sources and method

Every figure on this page traces to these records.

  • Bill status: bills and resolutions, sponsors, actions, subjects and CRS summaries (U.S. Government Publishing Office (GovInfo), from Congress.gov (Library of Congress))GovInfo Bill Status bulk data (Congress.gov; summaries by the Congressional Research Service) · data current to Oct 6, 2026 · loaded Oct 6, 2026 · license: Public domain (U.S. Government work, 17 U.S.C. § 105)
  • Members of Congress, their terms, committees and identifiers (The @unitedstates project (from the Biographical Directory of the U.S. Congress, the House and the Senate))unitedstates/congress-legislators: legislators, committees and current committee membership · data current to Oct 3, 2026 · loaded Oct 3, 2026 · license: CC0 1.0 (public domain dedication)
  • House roll-call votes (Office of the Clerk, U.S. House of Representatives)Office of the Clerk, U.S. House of Representatives, roll-call vote records · data current to Oct 3, 2026 · loaded Oct 3, 2026 · license: Public domain (U.S. Government work, 17 U.S.C. § 105)
  • Senate roll-call votes and DW-NOMINATE scores (Voteview (UCLA Department of Political Science))Lewis, Jeffrey B., Keith Poole, Howard Rosenthal, Adam Boche, Aaron Rudkin, and Luke Sonnet (2026). Voteview: Congressional Roll-Call Votes Database. https://voteview.com/ · data current to Oct 3, 2026 · loaded Oct 3, 2026 · license: Free to use with the required citation
  • Lobbying disclosures (LD-1 registrations, LD-2 quarterly reports, LD-203 contribution reports) (Clerk of the U.S. House of Representatives)Clerk of the House, Lobbying Disclosure Act filings (organizations only; lobbyists' names are not loaded) · data current to Oct 6, 2026 · loaded Oct 6, 2026 · license: Public domain (U.S. Government work, 17 U.S.C. § 105)
  • Positions are shown only where a roll call recorded them; voice votes and unanimous consent record none.