Transparency in Banking Act

S 940, the Transparency in Banking Act, requires major U.S. banking regulators - including the Federal Reserve, Office of the Comptroller of the Currency, and FDIC - to publicly report on their participation in international banking rule discussions. The bill mandates that these agencies submit annual reports to Congress by January 31 each year, detailing planned attendance, issues to address, and U.S. positions on proposed global banking standards. It also requires them to notify Congress within 30 days of significant changes to these plans, including meeting results, proposed changes, and voting positions. The law aims to increase transparency around how U.S. regulators engage with the Basel Committee on Bank Supervision, directly affecting federal banking oversight bodies.