HR6547Referred to Committee
Least Cost Exception Act
Introduced
In Committee
3
Passed One Chamber4
Passed Both5
Signed into Law119th
Congress
2025-12-10
Introduced
4
Cosponsors
HR
ⓘType
Sponsor
Mike Flood
Republican · NE · Representative
Votes with party: 97.6% (549 recorded votes)
Full profile: /officials/F000474
Source: Congress.gov · FEC
Cosponsors (4)
Members who have signed on to support this bill since introduction. Source: Congress.gov.
Latest Action
The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →
Committee Activity
Currently in
- House Committee on Financial ServicesReported By · 2026-02-02
Previously
- Financial Services CommitteeReported By · 2026-02-02
- Financial Services CommitteeMarkup By · 2025-12-16
- House Committee on Financial ServicesMarkup By · 2025-12-16
- Financial Services CommitteeReferred To · 2025-12-10
- House Committee on Financial ServicesReferred To · 2025-12-10
Plain-English Summary
Least Cost Exception Act 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). Under current law, the 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 FDIC's Deposit Insurance Fund the least to implement when an insured depository institution fails. The bill provides an exception to this requirement if the following criteria are met: 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; 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; if the alternative involves a person purchasing assets or assuming liabilities, that person must pay an assessment to the FDIC; and 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. 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.
Plain-English rewrite of the Congressional Research Service summary published on Congress.gov. Cached and reviewed.
Subjects
Finance and Financial Sector
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