HR 6547
· 119th Congress
· Finance and Financial Sector
Least Cost Exception Act
Sponsor
Latest action
Placed on the Union Calendar, Calendar No. 405.
Action timeline
Every recorded action on this bill, newest first. Stage badges color-code the legislative path.
Feb 02, 2026
committee
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-474.
Financial Services Committee
Feb 02, 2026
other
Placed on the Union Calendar, Calendar No. 405.
Dec 17, 2025
committee
Committee Consideration and Mark-up Session Held
Financial Services Committee
Dec 17, 2025
committee
Ordered to be Reported (Amended) by the Yeas and Nays: 50 - 0.
Financial Services Committee
Dec 16, 2025
committee
Committee Consideration and Mark-up Session Held
Financial Services Committee
Dec 10, 2025
introduced
Introduced in House
Dec 10, 2025
introduced
Referred to the House Committee on Financial Services.
Financial Services Committee
Text versions
Each stage of the bill — official text published by GPO. Click any format to read on congress.gov / govinfo.
CRS summaries
Plain-English summaries written by the Congressional Research Service — neutral, nonpartisan staff who summarize bills as they advance through stages. The authoritative description of what each version of the bill does.
07
Reported to House
Feb 02, 2026
Least Cost Exception Act
This bill allows the Federal Deposit Insurance Corporation (FDIC) to waive the least-cost resolution requirement for failed insured depository institutions and use alternative methods of resolution, particularly alternatives that do not involve global systemically important banks (G-SIBs).
Under current law, the FDIC must use the resolution method (such as a deposit payoff or the purchase and assumption of a bank’s assets and liabilities) that costs the FDIC's Deposit Insurance Fund the least to implement when an insured depository institution fails.
The bill provides an exception to this requirement if the following criteria are met:
the alternative method is the least costly of all alternatives that do not involve a G-SIB and that do not exceed the cost of liquidation;
the difference in cost between the selected alternative and the cost of a resolution involving a purchase and assumption by a G-SIB is less than a maximum cost as established by rule;
if the alternative involves a person purchasing assets or assuming liabilities, that person must pay an assessment to the FDIC; and
it is determined that the risks to the fund are outweighed by the benefits of limiting the concentration of U.S. banking under G-SIBs.
FDIC must issue a report on any use of the exception established by this bill containing an analysis of the economic impact of cost differences between the selected alternative and the least-cost alternative.
via Congressional Research Service · published through congress.gov
Changelog
ⓘ
How a bill moves through Congress. Each stage produces a new official text. The diff between them shows what changed at that step.
ih / is — Introduced in House / Senate. First filed version.rfh / rfs — Referred to a committee for review.rh / rs — Reported back by the committee to the floor (often with amendments — this is where most language changes happen).pcs / pch — Placed on Calendar for floor consideration.eh / es — Engrossed. Passed by the originating chamber. Text is now what was actually voted on.rdh / rds — Received by the other chamber.eah / eas — Engrossed Amendment. The other chamber passed an amended version.ath / ats — Agreed to. Both chambers settled on the same text.enr — Enrolled. Final reconciled text, sent to the President.pl — Public Law. Signed by the President. It's now law.pp — Public Print. Official printing post-enactment.
Most bills die before eh/es. Going from pcs → enr is the full path through both chambers.
ⓘ
How a bill moves through Congress. Each stage produces a new official text. The diff between them shows what changed at that step.
ih/is— Introduced in House / Senate. First filed version.rfh/rfs— Referred to a committee for review.rh/rs— Reported back by the committee to the floor (often with amendments — this is where most language changes happen).pcs/pch— Placed on Calendar for floor consideration.eh/es— Engrossed. Passed by the originating chamber. Text is now what was actually voted on.rdh/rds— Received by the other chamber.eah/eas— Engrossed Amendment. The other chamber passed an amended version.ath/ats— Agreed to. Both chambers settled on the same text.enr— Enrolled. Final reconciled text, sent to the President.pl— Public Law. Signed by the President. It's now law.pp— Public Print. Official printing post-enactment.
Most bills die before eh/es. Going from pcs → enr is the full path through both chambers.
Line-level diff between text versions of this bill — what actually changed at each legislative stage.
+76
−21
46 unchanged
--- Introduced (House)
+++ Reported (House)
@@ -1,11 +1,14 @@
[From the U.S. Government Publishing Office]
-[H.R. 6547 Introduced in House (IH)]
+[H.R. 6547 Reported in House (RH)]
<DOC>
+Union Calendar No. 405
119th CONGRESS
-1st Session
+2d Session
H. R. 6547
+
+[Report No. 119-474]
To amend the Federal Deposit Insurance Act to provide an exception to
the least-cost resolution requirement, and for other purposes.
@@ -18,6 +21,20 @@
Mr. Flood introduced the following bill; which was referred to the
Committee on Financial Services
+
+February 2, 2026
+
+Additional sponsors: Mr. Foster, Mr. Rose, Mr. Moskowitz, and Mr.
+Lawler
+
+February 2, 2026
+
+Reported with an amendment, committed to the Committee of the Whole
+House on the State of the Union, and ordered to be printed
+[Strike out all after the enacting clause and insert the part printed
+in italic]
+[For text of introduced bill, see copy of bill as introduced on
+December 10, 2025]
_______________________________________________________________________
@@ -71,10 +88,12 @@
``(ii) Maximum cost to the deposit
insurance fund.--Not later than 1 year after
the date of enactment of this subparagraph, the
-Corporation, by rule, shall specify the maximum
-amount of the net worth of the Deposit
-Insurance Fund that may be utilized to account
-for any determination under clause (i).
+Corporation, by rule, shall establish criteria
+for determining on a case-by-case basis the
+maximum allowable cost against the net worth of
+the Deposit Insurance Fund that may be utilized
+to account for any determination under clause
+(i).
``(iii) Requirements described.--The
requirements for the selected alternative
described in clause (i) are as follows:
@@ -97,19 +116,29 @@
alternative that involves another
person purchasing assets of the insured
depository institution or assuming
-liabilities of the insured depository
-institution, such person agrees to pay
-an assessment to the Deposit Insurance
-Fund comprised of payments--
+deposit liabilities of the insured
+depository institution, such person
+agrees to pay an assessment to the
+Corporation comprised of payments--
``(aa) made over a period
to be determined by the
Corporation, but which may not
be less than 5 years; and
-``(bb) that, taking into
-account a realistic discount
-rate, are in an aggregate
-amount equal to the difference
-calculated in subclause (II).
+``(bb) in an amount that
+takes into account, on a case-
+by-case basis, criteria the
+Corporation, by rule, shall
+establish, including a
+realistic discount rate, the
+aggregate amount equal to the
+difference calculated in
+subclause (II), and any bid
+inconsistent with the purposes
+of this Act, with such rule to
+be established by the
+Corporation not later than 1
+year after the date of
+enactment of this subparagraph.
``(iv) Report to congress.--Not later than
30 days after selecting an alternative
described in clause (i), the Corporation shall
@@ -123,7 +152,11 @@
Insurance Fund of the least costly alternative
that would have been selected absent the
application of this subparagraph.
-``(v) Definitions.--In this subparagraph:
+``(v) Cost determinations.--All cost
+determinations required under this subparagraph
+shall be made in accordance with subparagraphs
+(B) and (C).
+``(vi) Definitions.--In this subparagraph:
``(I) Covered alternative.--The
term `covered alternative' means a
method of exercising authority
@@ -133,10 +166,10 @@
involve a sale of all or substantially
all assets of the insured depository
institution to, and assumption of all
-or substantially all liabilities of the
-insured depository institution by, a
-global systemically important banking
-organization.
+or substantially all deposit
+liabilities of the insured depository
+institution by, a global systemically
+important banking organization.
``(II) Global systemically
important banking organization.--The
term `global systemically important
@@ -149,4 +182,26 @@
(b) Rule of Construction.--Section 13(c)(4)(H) of the Federal
Deposit Insurance Act (12 U.S.C. 1823(c)(4)(H)) does not apply to the
amendments made by subsection (a).
-<all>
+Union Calendar No. 405
+
+119th CONGRESS
+
+2d Session
+
+H. R. 6547
+
+[Report No. 119-474]
+
+_______________________________________________________________________
+
+A BILL
+
+To amend the Federal Deposit Insurance Act to provide an exception to
+the least-cost resolution requirement, and for other purposes.
+
+_______________________________________________________________________
+
+February 2, 2026
+
+Reported with an amendment, committed to the Committee of the Whole
+House on the State of the Union, and ordered to be printed
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2
filings · 2026 Q4
1
filings · 2025 Q4
1
filings · 2025 Q4
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Cosponsors (4)
Members who signed on to support this bill.