H.R. 7022 · 117th Congress
Strengthening Cybersecurity for the Financial Sector Act of 2022
- Stage
- Reported from committee
- Sponsor
- Bill Foster
- Introduced
- 2022-03-09
- Latest action
- 2022-05-17 · Committee Consideration and Mark-up Session Held.
Summary
Strengthening Cybersecurity for the Financial Sector Act of 2022
This bill provides for the regulation and supervision of certain financial organizations and service providers.
Specifically, if a credit union that is subject to examination by the Board of Directors of the National Credit Union Administration delegates the performance of certain activities and services, the delegation must be disclosed and shall be subject to regulation and examination by the board.
Additionally, if the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, any Federal Home Loan Bank, or the Office of Finance of the Federal Home Loan Bank System delegates the performance of certain activities and services, the delegation must be disclosed and shall be subject to regulation and examination by the Federal Housing Finance Agency.