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Senate Bill 3578
119th Congress(2025-2026)
Financial Stability Oversight Council Improvement Act of 2025
Introduced
Introduced
Introduced in Senate on Dec 18, 2025
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Introduced in Senate 
Dec 18, 2025
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Introduced in Senate(Dec 18, 2025)
Dec 18, 2025
Not Scanned for Linkage
About Linkage
Multiple bills can contain the same text. This could be an identical bill in the opposite chamber or a smaller bill with a section embedded in a larger bill.
Bill Sponsor regularly scans bill texts to find sections that are contained in other bill texts. When a matching section is found, the bills containing that section can be viewed by clicking "View Bills" within the bill text section.
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S. 3578 (Introduced-in-Senate)


119th CONGRESS
1st Session
S. 3578


To amend the Financial Stability Act of 2010 to require the Financial Stability Oversight Council to consider alternative approaches before determining that a U.S. nonbank financial company shall be supervised by the Board of Governors of the Federal Reserve System, and for other purposes.

IN THE SENATE OF THE UNITED STATES

December 18, 2025

Mr. Rounds (for himself and Mr. Peters) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs

A BILL

To amend the Financial Stability Act of 2010 to require the Financial Stability Oversight Council to consider alternative approaches before determining that a U.S. nonbank financial company shall be supervised by the Board of Governors of the Federal Reserve System, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “Financial Stability Oversight Council Improvement Act of 2025”.

SEC. 2. Financial Stability Oversight Council.

Section 113 of the Financial Stability Act of 2010 (12 U.S.C. 5323) is amended—

(1) in subsection (a)—

(A) in paragraph (1), by striking “The Council” and inserting “Subject to paragraph (3), the Council”; and

(B) by adding at the end the following:

“(3) INITIAL DETERMINATION.—The Council may not vote on a proposed determination with respect to a U.S. nonbank financial company under paragraph (1) unless the Council first determines, in consultation with the company and the primary financial regulatory agency with respect to the company, that a different action by the Council or the agency (including the application of new or heightened standards and safeguards under section 120), or by the company under a written plan that is submitted promptly to the Council, is impracticable or insufficient to mitigate the threat that the company could pose to the financial stability of the United States.”; and

(2) in subsection (f)(1), by striking “subsection (e)” and inserting “subsections (a)(3) and (e)”.