American FIRST Act

Summary#

This bill makes banking regulators give more information to Congress each year about their work with international financial groups. It changes annual reports from the Board of Governors of the Federal Reserve, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation. Each report must list which global financial regulatory or supervisory forums the agency joined and describe, for each forum: its purpose; members and observers; who paid for it; how the agency organized its work with the forum (including an organizational chart and staff names); the main rule or standard issues discussed; the positions the agency took and why; summaries of meetings and key outcomes; texts or links to any final policies or standards adopted; any changes to U.S. laws, agency rules, guidance, or supervisory practices that may be needed to implement those international decisions; and any agency actions to implement those agreements, including an economic impact analysis and a written justification. The bill defines “global financial regulatory or supervisory forum” and gives examples (Bank for International Settlements, Basel Committee on Banking Supervision, Financial Stability Board, International Association of Insurance Supervisors, and the Network for Greening the Financial System). It also says some international institutions and treaty-based participation are not included. The bill also adds that the agencies must include such international interactions when they give biannual testimony to Congress. Sponsors include Representatives Loudermilk, Barr, Flood, Rose, Sessions, Davidson, and Moore. Status: introduced in the House on December 10, 2025, placed on the Union Calendar and in progress.

What it means for you#

  • If you follow bank rules or work in finance: regulators must report more detail about international meetings, proposed standards, and how those could lead to changes in U.S. rules or supervision.
  • If you are a member of the public: Congress will get and may request more detailed information about what U.S. bank regulators do at international forums.
  • If you are a member of Congress: agencies must provide expanded annual reports and include these topics in their twice-yearly testimony.
  • If you work at the Fed, OCC, or FDIC: your agency must collect and publish organizational charts, staff oversight information, meeting summaries, positions taken, and links to texts of adopted international standards.

Expenses#

No publicly available information about estimated costs or budgetary effects is included in the bill text or metadata provided.

Proponents' View#

No publicly available information.

Opponents' View#

No publicly available information.