S. 940, known as the "Transparency in Banking Act," aims to enhance transparency in the activities related to the Basel Committee on Bank Supervision. The bill requires the Board of Governors of the Federal Reserve System and other relevant entities to submit an annual report...
Simple Explanation
S. 940 is a bill that wants some big bank groups to tell Congress what they talk about in certain meetings to help everyone understand better. It makes sure important changes are shared and explained in a simple way.