Barr Introduces Legislation on Global Governance in Banking

Washington, DC - Today, Congressman Andy Barr (KY-06) introduced the Congressional Banking Regulation Priorities and Accountability Act of 2024 which requires enhanced consultation by Federal financial regulatory agencies with Congress and the public regarding their engagement with international organizations. This Act protects the sovereignty of the United States and strengthens Congress's oversight of the activities of the federal financial regulators in the US by improving accountability and transparency with respect to the effect of membership, engagement, and participation in international organizations on the laws, rules, and regulations applicable to companies in the United States.

"Protecting the sovereignty of the United States and ensuring transparency in how Federal financial agencies operate on the global stage is crucial," said Rep. Andy Barr. "This legislation enhances Congress's ability to oversee these agencies' participation in international organizations, making certain that their actions align with the best interests of our economy and national security. By increasing accountability, we are putting the American people first and ensuring that our financial regulations remain strong, fair, and focused on promoting U.S. economic growth and stability."

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