Bills · HR 6550
REPORTED· 119TH CONGRESS
House BillHR 6550Business recordsGovernment studies and investigations
American FIRST Act of 2025
INTRO DEC 10· LAST ACTION FEB 25
READING
14MIN
COSPONSORS
6
READER REACTIONS0 TOTAL
NO VOTES YET · BE THE FIRST
- Reported, not passed
LEGISLATIVE PROGRESS
STEP 3 / 8Introduced
In Committee
Reported
Passed House
Passed Senate
Conference
To President
Became Law
WHAT THE BILL DOES
AI-writtenThis bill matters because financial markets are increasingly global, and international discussions often lead to standards that can influence how banks operate in the U.S. Currently, the level of detailed public reporting on these interactions is not as comprehensive. If this bill becomes law, it will significantly increase transparency regarding how U.S. banking regulators engage with groups like the Basel Committee or the Financial Stability Board.
Voters should care because it provides a clearer picture of potential foreign influences on U.S. financial regulations, which can impact everything from lending practices to economic stability. If the bill passes, Congress and the public will have more information to understand the costs and benefits of implementing international financial standards. If it doesn't pass, the existing level of reporting continues, meaning less detailed public insight into these crucial international financial discussions and their potential impact on American banking.
KEY PROVISIONS
5AI-extractedPROVISION 01
Requires the Board of Governors of the Federal Reserve System to include a detailed description of its interactions with global financial regulatory forums in its annual report to Congress.
This significantly expands the Federal Reserve's reporting obligations, providing much greater transparency on its international engagements.
PROVISION 02
Requires the Office of the Comptroller of the Currency (OCC) to include similar detailed descriptions of its interactions with global financial regulatory forums in its annual report to Congress.
This ensures parallel transparency from another key federal banking regulator regarding its international activities.
PROVISION 03
Mandates that these reports include information such as the purposes and funding of global forums, U.S. positions taken, outcomes of meetings, and text of adopted policies.
This provision ensures comprehensive data is collected, allowing for a thorough understanding of the nature and impact of international engagements.
PROVISION 04
Requires reports to describe anticipated amendments to Federal statutes or regulations needed to implement international policies, along with economic impact analyses and justifications for such actions.
This provides critical foresight into how international agreements may alter U.S. law and requires a clear rationale for their adoption.
PROVISION 05
Defines 'global financial regulatory or supervisory forum' to include specific organizations like the Bank for International Settlements and the Basel Committee on Banking Supervision, while excluding certain international financial institutions or treaty organizations.
This clarifies the scope of the reporting requirement, ensuring that reporting focuses on specific types of international bodies.
SPONSORSHIP
1 + 6
R· Georgia
YRS IN OFFICE
11
BILLS LED
17
COSPONSOR BREAKDOWNBIPARTISAN · 0%
DEM 0 REP 6 IND 0
ACTION TIMELINE
7 EVENTSFEB 25
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-529.
FEB 25
Placed on the Union Calendar, Calendar No. 454.
DEC 17
Committee Consideration and Mark-up Session Held
DEC 17
Ordered to be Reported (Amended) by the Yeas and Nays: 29 - 23.
BILL INFO
TypeHouse Bill
NumberHR 6550
Congress119th
StatusReported
IntroducedDec 10, 2025
Last actionFeb 25, 2026
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REPORTED· 119TH CONGRESS · FINANCIAL SERVICES COMMITTEE · INTRODUCED DEC 10, 2025
House BillHR 6550Business recordsGovernment studies and investigations
American FIRST Act of 2025
INTRODUCED DEC 10, 2025· LAST ACTION FEB 25, 2026
PASSAGE CHANCES
—%
READING
14 min
COSPONSORS
6
COMPLEXITY
Moderate
