The Critical Bank Review Act is a federal bill aimed at improving the oversight of large banks in the United States. It proposes to establish a process for the periodic review of banks that are deemed critical to the stability of the financial system. The main provisions include requiring these banks to undergo regular assessments to evaluate their risk management practices, capital adequacy, and overall financial health. The bill aims to enhance transparency and accountability within the banking sector by ensuring that these critical institutions are effectively monitored to prevent systemic risks. If passed, this legislation could lead to increased regulatory scrutiny and potentially stricter requirements for systemically important banks in order to safeguard against future financial crises.
2023-03-17: Introduced in House
2023-03-17: Referred to the House Committee on Financial Services.
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