Loading bill breakdown…
H.R. 6547119th CongressFinance and Financial Sector
Least Cost Exception Act
Sponsored by Rep. Mike Flood (R-NE) · 4 active : 2 Republicans, 2 Democrats
Latest action: Placed on the Union Calendar, Calendar No. 405.
Where it standsBefore the House49 representatives score as swing votes
Hasn’t passed either chamber
- House: next
- Senate: not yet
- President: not yet
Summary
, via Congress.govLeast Cost Exception Act
This bill allows the Federal Deposit Insurance Corporation (FDIC) to waive the least-cost resolution requirement for failed insured depository institutions and use alternative methods of resolution, particularly alternatives that do not involve global systemically important banks (G-SIBs).
Under current law, the FDIC must use the resolution method (such as a deposit payoff or the purchase and assumption of a bank’s assets and liabilities) that costs the FDIC's Deposit Insurance Fund the least to implement when an insured depository institution fails.
Read full summaryHide full summary
The bill provides an exception to this requirement if the following criteria are met:
the alternative method is the least costly of all alternatives that do not involve a G-SIB and that do not exceed the cost of liquidation;
the difference in cost between the selected alternative and the cost of a resolution involving a purchase and assumption by a G-SIB is less than a maximum cost as established by rule;
if the alternative involves a person purchasing assets or assuming liabilities, that person must pay an assessment to the FDIC; and
it is determined that the risks to the fund are outweighed by the benefits of limiting the concentration of U.S. banking under G-SIBs.
FDIC must issue a report on any use of the exception established by this bill containing an analysis of the economic impact of cost differences between the selected alternative and the least-cost alternative.
Committees and subjects
Committees
- House Committee on Financial Services · HouseReported by · Markup by · Referred to
Subjects
- Accounting and auditing
- Bank accounts, deposits, capital
- Banking and financial institutions regulation
- Congressional oversight
- Corporate finance and management
- Federal Deposit Insurance Corporation (FDIC)
- Performance measurement
- User charges and fees
Model
Directional: count only breaks toward the other partyWhy do scores change?v3default (selected)v2 model swing-v2
How the Senate breaks down
- 8Swing 70–100
- 66Middle 30–70
- 26Entrenched 0–30
Members fall into . All 100 senators have enough data to score. The bill is not before the Senate right now; these scores show where members would stand.
Key players in the Senate
Ranked by swing score, 0–100 · swing-v3Bars show each input from 0 to 100: ideology gap, scorecard gap, , and the . is the seat’s partisan lean, and shows how much of the input data a score has.
Similar past votes, Senate
Earlier behind swing-v3’s inputLoading similar votes
Cosponsors
4 activeShow all 4 cosponsors
- Bill Foster (D-IL-11)
- John W. Rose (R-TN-6)
- Jared Moskowitz (D-FL-23)
- Michael Lawler (R-NY-17)
How the swing score works
Ideology gapHow far a member’s DW-NOMINATE voting score sits from their party’s median in the same chamber.
Scorecard gapHow far their Heritage Action and LCV ratings stray from their party’s average, using the groups’ votes on similar bills where available.
Cross-pressureHow strongly their district or state leans toward the other party, from our own computed partisan lean.
Similar votesHow often they voted against their own party on earlier roll calls about this bill or similar ones.
Committee bonusMembers of the committees handling the bill decide whether it moves, so they get a boost.
Cosponsor checkThe sponsor and active cosponsors have already committed, so they drop toward entrenched.
