Enhancing Financial Stability Research and Oversight Act

This bill changes how the Office of Financial Research and the Financial Stability Oversight Council are funded and staffed. It gives the Office's Director sole control over the Office's annual budget, sets a minimum budget of $124,627,000 adjusted each year for cost changes, and requires at least 231 full-time positions. It removes requirements that the Director consult with the Council's Chairperson on certain matters, states that the Office's funding is not subject to review by the House and Senate Appropriations Committees, and bars the Treasury Secretary from influencing the Office's budget or staff. It also requires the Council to have at least 48 full-time positions and requires the Office to transfer at least $15,287,000 each year to the Council, adjusted annually.

Full text and official record on Congress.gov

Sponsors

• Bill Foster Democrat sponsor
• 5 cosponsors