YourVoice.Now Summary
Transparency & AccountabilityThe consumer bureau head would lose a vote on the FDIC board — and board members would face term limits.
Transparency & Accountability
Members serve six-year terms today with no limit on how many. They could serve at most two terms, and never more than 12 years total, even while waiting for a replacement.
The head of the Consumer Financial Protection Bureau would still sit with the FDIC board but could not vote. A fourth Senate-confirmed member chosen by the President would take that vote.
More about this bill
Most people would see no change in daily life. The change is to who runs the FDIC, the federal bank deposit insurer. Today its five-member board is the Comptroller of the Currency, the consumer bureau head, and three people the President picks. The head of the Consumer Financial Protection Bureau would lose a vote. That official would stay on as an observer who cannot vote. The President would fill the open seat with a fourth member the Senate must confirm. One of the four would need work in, or oversight of, banks with under $10 billion in assets. Board members could serve no more than two six-year terms. No one could serve more than 12 years in total. Today members may stay past the end of a term until a replacement is confirmed. The 12-year cap would apply even then.
Congressional Summary
FDIC Board Accountability Act This bill revises provisions related to the board of directors of the Federal Deposit Insurance Corporation. Specifically, the bill removes the director of the Consumer Financial Protection Bureau from the board as a voting member and instead makes them a non-voting observer. In addition, the bill requires the appointment of one individual with state bank supervisory experience, and another with demonstrated primary experience working in or supervising small depository institutions. Further, the bill limits the term length of a board member to 12 years.
Legislative Subjects
Details
- Congress
- 119th
- Chamber
- House
- Status
- summarized
- Action
- Reported to House
- Action Date
- 2025-09-08
- Date Added
- 2026-10-08
- Source
- Congress.gov →
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