Vote Smart's Synopsis:

Vote to pass a bill that requires the Office of Financial Research to be subject to the annual congressional appropriations process.

Highlights:

• Requires funds received by the Office of Financial Research (OFR) to be subject to congressional appropriations legislation, effective October 1, 2016 (Sec. 2).

• Requires the OFR to submit a report on the Office’s activities to the following committees within 60 days of the end of each quarter (Sec. 3): 
• The Senate and House of Representatives Committee on Appropriations; 
• The House Committee on Financial Services; and 
• The Senate Committee on Banking, Housing, and Urban Affairs.

• Requires the OFR to provide for a public notice and commenting period 90 days before establishing a proposed report, rule, or regulation (Sec. 4).

Full Bill Text

Full Bill Text