US HB3716

Amends the Federal Deposit Insurance Act to require the GAO to review and report to Congress within 60 days (and again 180 days later) whenever systemic risk authority is invoked to wind up a failed insured depository institution

GAO reports must examine the basis for the systemic risk determination, executive and board mismanagement, compensation practices, regulatory shortcomings, and actions by federal banking regulators, FSOC, Treasury, and other agencies

Requires the appropriate federal banking agency to submit reports to Congress within 90 days (and again 210 days later) disclosing examination reports, inspection records, and supervisory communications from the previous 3 years related to the failed institution

Banking agency reports must include analysis of any regulatory shortcomings, recommendations to improve safety and soundness, and be published publicly to the fullest extent possible, with unpublished materials provided to congressional banking committees

Allows 60-day deadline extensions if agencies face ongoing circumstances requiring prioritization of banking system stability, with notification to Congress required