H.R. 4206, known as the “Bank Safety Act of 2024,” proposes changes to the Financial Stability Act of 2010. It mandates that certain financial institutions must include accumulated other comprehensive income (AOCI) in their capital calculations. This bill applies to large...
Simple Explanation
The Bank Safety Act of 2024 asks big banks to show some extra money they earn or lose in a different way to make sure they have enough for safety. It helps everyone know how strong the bank really is with their money plans.