{"bill":{"id":"119-hr-6547","congress":119,"type":"HR","number":6547,"title":"Least Cost Exception Act","originChamber":"House","introducedDate":"2025-12-10","sponsors":[{"bioguideId":"F000474","fullName":"Rep. Flood, Mike [R-NE-1]","party":"R","state":"NE","district":1}],"cosponsorsCount":4,"latestAction":{"actionDate":"2026-02-02","text":"Placed on the Union Calendar, Calendar No. 405."},"policyArea":"Finance and Financial Sector","subjects":["Accounting and auditing","Bank accounts, deposits, capital","Banking and financial institutions regulation","Congressional oversight","Corporate finance and management","Federal Deposit Insurance Corporation (FDIC)","Performance measurement","User charges and fees"],"actions":[{"date":"2026-02-02","text":"Placed on the Union Calendar, Calendar No. 405.","type":"Calendars","chamber":"House floor actions","hasVote":false},{"date":"2026-02-02","text":"Reported (Amended) by the Committee on Financial Services. H. Rept. 119-474.","type":"Committee","chamber":"House floor actions","hasVote":false},{"date":"2026-02-02","text":"Reported (Amended) by the Committee on Financial Services. H. Rept. 119-474.","type":"Committee","chamber":"Library of Congress","hasVote":false},{"date":"2025-12-17","text":"Ordered to be Reported (Amended) by the Yeas and Nays: 50 - 0.","type":"Committee","chamber":"House committee actions","hasVote":false},{"date":"2025-12-17","text":"Committee Consideration and Mark-up Session Held","type":"Committee","chamber":"House committee actions","hasVote":false},{"date":"2025-12-16","text":"Committee Consideration and Mark-up Session Held","type":"Committee","chamber":"House committee actions","hasVote":false},{"date":"2025-12-10","text":"Referred to the House Committee on Financial Services.","type":"IntroReferral","chamber":"House floor actions","hasVote":false},{"date":"2025-12-10","text":"Introduced in House","type":"IntroReferral","chamber":"Library of Congress","hasVote":false},{"date":"2025-12-10","text":"Introduced in House","type":"IntroReferral","chamber":"Library of Congress","hasVote":false}],"summary":"<p><strong>Least Cost Exception Act</strong></p><p>This bill allows the Federal Deposit Insurance Corporation (FDIC) to waive the least-cost resolution requirement for failed insured depository institutions and use alternative methods of resolution, particularly alternatives that do not involve global systemically important banks (G-SIBs).</p><p>Under current law, the&nbsp;FDIC must use the resolution method (such as a deposit payoff or the purchase and assumption of a bank’s assets and liabilities) that costs the&nbsp;FDIC's Deposit Insurance Fund the least to implement when an insured depository institution fails.</p><p>The bill provides an exception to this requirement if the following criteria are met:</p><ul><li>the alternative method is the least costly of all alternatives that do not involve a G-SIB and that do not exceed the cost of liquidation;</li><li>the difference in cost between the selected alternative and the cost of a resolution involving a purchase and assumption by a G-SIB is less than a maximum cost as established by rule;</li><li>if the alternative involves a person purchasing assets or assuming liabilities, that person must pay an assessment to the&nbsp;FDIC; and</li><li>it is determined that the risks to the fund are outweighed by the benefits of limiting the concentration of U.S. banking under G-SIBs.</li></ul><p>FDIC must issue a report on any use of the exception established by this bill containing an analysis of the economic impact of cost differences between the selected alternative and the least-cost alternative.</p>","updateDate":"2026-04-08T19:40:16Z"},"markets":[],"stateBills":[],"meta":{"sources":["congress.gov"],"latencyMs":562,"ts":"2026-04-19T09:21:06.712Z"},"nextActions":{"inspect":[],"related":[{"description":"Search related legislation","method":"GET","url":"/api/public/query-gov?q=Least%20Cost%20Exception%20Act"}]}}