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U.S. GOVERNMENT
INFORMATION
Gp
115TH CONGRESS REPORT
2d Session HOUSE OF REPRESENTATIVES 115-620
TRANSPARENCY AND ACCOUNTABILITY FOR BUSINESS
STANDARDS ACT
APRIL 5, 2018.-Committed to the Committee of the Whole House on the State of
the Union and ordered to be printed
Mr. HENSARLING, from the Committee on Financial Services,
submitted the following
REPORT
together with
MINORITY VIEWS
[To accompany H.R. 3179]
[Including cost estimate of the Congressional Budget Office]
The Committee on Financial Services, to whom was referred the
bill (H.R. 3179) to require the appropriate Federal banking agen-
cies, when issuing certain prudential regulations that are sub-
stantively more stringent than a corresponding international pru-
dential standard to publish the rationale for doing so and a cost-
benefit analysis of the difference, and for other purposes, having
considered the same, report favorably thereon without amendment
and recommend that the bill do pass.
PURPOSE AND SUMMARY
Introduced by Representative Trey Hollingsworth on July 11,
2017, H.R. 3179, the Transparency and Accountability for Busi-
ness Standards Act requires Federal banking agencies (the Office
of the Comptroller of the Currency (OCC), the Board of Governors
of the Federal Reserve System (Federal Reserve), and the Federal
Deposit Insurance Corporation (FDIC)) to publish-whenever
issuing certain prudential regulations which are substantively
more stringent than corresponding international standards-a ra-
tionale and comprehensive cost-benefit analysis of the differences
between the prudential regulation and the corresponding inter-
national prudential standard, for public notice and comment.
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