‘‘(1) REQUIREMENT.—The Commission shall, 
by rule, adopt data standards for all information re-
quired to be submitted or published by a nationally 
recognized statistical rating organization under this 
section. 
‘‘(2) CHARACTERISTICS.—The data standards 
required by paragraph (1) shall, to the extent prac-
ticable— 
‘‘(A) render information fully searchable 
and machine-readable; 
‘‘(B) be nonproprietary; 
‘‘(C) incorporate standards developed and 
maintained by voluntary consensus standards 
bodies; and 
‘‘(D) be consistent with and implement ap-
plicable accounting and reporting principles. 
‘‘(3) 
INCORPORATION
OF
STANDARDS.—In 
adopting data standards by rule under this sub-
section, the Commission shall incorporate all applica-
ble data standards promulgated by the Secretary of 
the Treasury.’’. 
(d) DATA STANDARDS FOR ASSET-BACKED SECURI-
TIES DISCLOSURES.—Section 7(c) of the Securities Act of 
1933 (15 U.S.C. 77g(c)) is amended by adding at the end 
the following: 
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‘‘(3) DATA STANDARDS FOR ASSET-BACKED SE-
CURITIES DISCLOSURES.— 
‘‘(A) 
REQUIREMENT.—The 
Commission 
shall, by rule, adopt data standards for all dis-
closures required under this subsection. 
‘‘(B) CHARACTERISTICS.—The data stand-
ards required by subparagraph (A) shall, to the 
extent practicable— 
‘‘(i) render information fully search-
able and machine-readable; 
‘‘(ii) be nonproprietary; 
‘‘(iii) incorporate standards developed 
and maintained by voluntary consensus 
standards bodies; and 
‘‘(iv) be consistent with and imple-
ment applicable accounting and reporting 
principles. 
‘‘(C) INCORPORATION OF STANDARDS.—In 
adopting data standards by rule under this 
paragraph, the Commission shall incorporate all 
applicable data standards promulgated by the 
Secretary of the Treasury.’’. 
(e) DATA STANDARDS
FOR CORPORATE DISCLO-
SURES UNDER THE SECURITIES ACT OF 1933.—Section 
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7 of the Securities Act of 1933 (15 U.S.C. 77g) is amend-
ed by adding at the end the following: 
‘‘(e) DATA STANDARDS.— 
‘‘(1) REQUIREMENT.—The Commission shall, 
by rule, adopt data standards for all registration 
statements and for all prospectuses included in reg-
istration statements required to be filed with the 
Commission under this title, except that the Com-
mission may exempt exhibits, signatures, and certifi-
cations from such data standards. 
‘‘(2) CHARACTERISTICS.—The data standards 
required by paragraph (1) shall, to the extent prac-
ticable— 
‘‘(A) render information fully searchable 
and machine-readable; 
‘‘(B) be nonproprietary; 
‘‘(C) incorporate standards developed and 
maintained by voluntary consensus standards 
bodies; and 
‘‘(D) be consistent with and implement ap-
plicable accounting and reporting principles. 
‘‘(3) 
INCORPORATION
OF
STANDARDS.—In 
adopting data standards by rule under this sub-
section, the Commission shall incorporate all applica-
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ble data standards promulgated by the Secretary of 
the Treasury.’’. 
(f) DATA STANDARDS FOR PERIODIC AND CURRENT 
CORPORATE DISCLOSURES UNDER THE SECURITIES EX-
CHANGE ACT OF 1934.—Section 13 of the Securities Ex-
change Act of 1934 (15 U.S.C. 78m) is amended by add-
ing at the end the following: 
‘‘(s) DATA STANDARDS.— 
‘‘(1) REQUIREMENT.—The Commission shall, 
by rule, adopt data standards for all information 
contained in periodic and current reports required to 
be filed or furnished under this section or under sec-
tion 15(d), except that the Commission may exempt 
exhibits, signatures, and certifications from such 
data standards. 
‘‘(2) CHARACTERISTICS.—The data standards 
required by paragraph (1) shall, to the extent prac-
ticable— 
‘‘(A) render information fully searchable 
and machine-readable; 
‘‘(B) be nonproprietary; 
‘‘(C) incorporate standards developed and 
maintained by voluntary consensus standards 
bodies; and 
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‘‘(D) be consistent with and implement ap-
plicable accounting and reporting principles. 
‘‘(3) 
INCORPORATION
OF
STANDARDS.—In 
adopting data standards by rule under this sub-
section, the Commission shall incorporate all applica-
ble data standards promulgated by the Secretary of 
the Treasury.’’. 
(g) DATA STANDARDS FOR CORPORATE PROXY AND 
CONSENT SOLICITATION MATERIALS UNDER THE SECU-
RITIES EXCHANGE ACT OF 1934.—Section 14 of the Se-
curities Exchange Act of 1934 (15 U.S.C. 78n) is amend-
ed by adding at the end the following: 
‘‘(k) DATA STANDARDS FOR PROXY AND CONSENT 
SOLICITATION MATERIALS.— 
‘‘(1) REQUIREMENT.—The Commission shall, 
by rule, adopt data standards for all information 
contained in any proxy or consent solicitation mate-
rial prepared by an issuer for an annual meeting of 
the shareholders of the issuer, except that the Com-
mission may exempt exhibits, signatures, and certifi-
cations from such data standards. 
‘‘(2) CHARACTERISTICS.—The data standards 
required by paragraph (1) shall, to the extent prac-
ticable— 
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‘‘(A) render information fully searchable 
and machine-readable; 
‘‘(B) be nonproprietary; 
‘‘(C) incorporate standards developed and 
maintained by voluntary consensus standards 
bodies; and 
‘‘(D) be consistent with and implement ap-
plicable accounting and reporting principles. 
‘‘(3) 
INCORPORATION
OF
STANDARDS.—In 
adopting data standards by rule under this sub-
section, the Commission shall incorporate all applica-
ble data standards promulgated by the Secretary of 
the Treasury.’’. 
(h) DATA STANDARDS FOR SECURITY-BASED SWAP 
REPORTING.—Section 15F of the Securities Exchange Act 
of 1934 (15 U.S.C. 78o–10) is amended by adding at the 
end the following: 
‘‘(m) DATA STANDARDS FOR SECURITY-BASED SWAP 
REPORTING.— 
‘‘(1) REQUIREMENT.—The Commission shall, 
by rule, adopt data standards for all reports related 
to security-based swaps that are required under this 
Act. 
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‘‘(2) CHARACTERISTICS.—The data standards 
required by paragraph (1) shall, to the extent prac-
ticable— 
‘‘(A) render information fully searchable 
and machine-readable; 
‘‘(B) be nonproprietary; 
‘‘(C) incorporate standards developed and 
maintained by voluntary consensus standards 
bodies; and 
‘‘(D) be consistent with and implement ap-
plicable accounting and reporting principles. 
‘‘(3) 
INCORPORATION
OF
STANDARDS.—In 
adopting data standards by rule under this sub-
section, the Commission shall incorporate all applica-
ble data standards promulgated by the Secretary of 
the Treasury.’’. 
(i) RULEMAKING.— 
(1) IN GENERAL.—Not later than the end of 
the 2-year period beginning on the date of the enact-
ment of this Act, the Securities and Exchange Com-
mission shall issue the regulations required under 
the amendments made by this section. 
(2) 
SCALING
OF
REGULATORY
REQUIRE-
MENTS.—In issuing the regulations required under 
the amendments made by this section, the Securities 
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and Exchange Commission may scale data reporting 
requirements in order to reduce any unjustified bur-
den on emerging growth companies, lending institu-
tions, accelerated filers, smaller reporting companies, 
and other smaller issuers, as determined by the 
study required under section 205(c), while still pro-
viding searchable information to investors. 
(3) MINIMIZING DISRUPTION.—In issuing the 
regulations required under the amendments made by 
this section, the Securities and Exchange Commis-
sion shall seek to minimize disruptive changes to the 
persons affected by such regulations. 
SEC. 202. OPEN DATA PUBLICATION BY THE SECURITIES 
AND EXCHANGE COMMISSION. 
Section 4 of the Securities Exchange Act of 1934 (15 
U.S.C. 78d) is amended by adding at the end the fol-
lowing: 
‘‘(j) OPEN DATA PUBLICATION.—All public informa-
tion published by the Commission under the securities 
laws and the Dodd-Frank Wall Street Reform and Con-
sumer Protection Act shall be published as open data, 
freely available for download in bulk, accessible via appli-
cation programming interface where appropriate, and of-
fered without any registration requirement or reuse re-
striction.’’. 
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SEC. 203. DATA TRANSPARENCY AT THE MUNICIPAL SECU-
RITIES RULEMAKING BOARD. 
(a) IN GENERAL.—Section 15B(b) of the Securities 
Exchange Act of 1934 (15 U.S.C. 78o–4(b)) is amended 
by adding at the end the following: 
‘‘(8) DATA STANDARDS.— 
‘‘(A) REQUIREMENT.—If the Board establishes 
information systems under paragraph (3), the Board 
shall adopt data standards for information sub-
mitted via such systems. 
‘‘(B) CHARACTERISTICS.—The data standards 
required by subparagraph (A) shall, to the extent 
practicable— 
‘‘(i) render information fully searchable 
and machine-readable; 
‘‘(ii) be nonproprietary; 
‘‘(iii) incorporate standards developed and 
maintained by voluntary consensus standards 
bodies; and 
‘‘(iv) be consistent with and implement ap-
plicable accounting and reporting principles. 
‘‘(C) 
INCORPORATION
OF
STANDARDS.—In 
adopting data standards under this paragraph, the 
Board shall incorporate all applicable data standards 
promulgated by the Secretary of the Treasury.’’. 
(b) RULEMAKING.— 
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(1) IN GENERAL.—Not later than the end of 
the 2-year period beginning on the date of the enact-
ment of this Act, the Municipal Securities Rule-
making Board shall issue the regulations required 
under the amendments made by this section. 
(2) 
SCALING
OF
REGULATORY
REQUIRE-
MENTS.—In issuing the regulations required under 
the amendments made by this section, the Municipal 
Securities Rulemaking Board may scale data report-
ing requirements in order to reduce any unjustified 
burden on smaller regulated entities. 
(3) MINIMIZING DISRUPTION.—In issuing the 
regulations required under the amendments made by 
this section, the Municipal Securities Rulemaking 
Board shall seek to minimize disruptive changes to 
the persons affected by such regulations. 
SEC. 204. DATA TRANSPARENCY AT NATIONAL SECURITIES 
ASSOCIATIONS. 
(a) IN GENERAL.—Section 15A of the Securities Ex-
change Act of 1934 (15 U.S.C. 78o–3) is amended by add-
ing at the end the following: 
‘‘(n) DATA STANDARDS.— 
‘‘(1) REQUIREMENT.—A national securities as-
sociation registered pursuant to subsection (a) shall 
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adopt data standards for all information that is reg-
ularly filed with or submitted to the association. 
‘‘(2) CHARACTERISTICS.—The data standards 
required by paragraph (1) shall, to the extent prac-
ticable— 
‘‘(A) render information fully searchable 
and machine-readable; 
‘‘(B) be nonproprietary; 
‘‘(C) incorporate standards developed and 
maintained by voluntary consensus standards 
bodies; and 
‘‘(D) be consistent with and implement ap-
plicable accounting and reporting principles. 
‘‘(3) 
INCORPORATION
OF
STANDARDS.—In 
adopting data standards under this subsection, the 
association shall incorporate all applicable data 
standards promulgated by the Secretary of the 
Treasury.’’. 
(b) RULEMAKING.— 
(1) IN GENERAL.—Not later than the end of 
the 2-year period beginning on the date of the enact-
ment of this Act, a national securities association 
shall adopt the standards required under the amend-
ments made by this section. 
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(2) 
SCALING
OF
REGULATORY
REQUIRE-
MENTS.—In adopting the standards required under 
the amendments made by this section, a national se-
curities association may scale data reporting require-
ments in order to reduce any unjustified burden on 
smaller regulated entities. 
(3) MINIMIZING DISRUPTION.—In adopting the 
standards required under the amendments made by 
this section, a national securities association shall 
seek to minimize disruptive changes to the persons 
affected by such standards. 
SEC. 205. SHORTER-TERM BURDEN REDUCTION AND DIS-
CLOSURE SIMPLIFICATION AT THE SECURI-
TIES AND EXCHANGE COMMISSION; SUNSET. 
(a) ADOPTION OF STANDARDS FOR CORPORATE FI-
NANCIAL DATA.— 
(1) IN
GENERAL.—Not later than one year 
after the date of enactment of this Act, the Securi-
ties and Exchange Commission, shall, by rule, adopt 
a data standard that is both human-readable and 
machine-readable, and complies with the require-
ments under the amendments made by section 201, 
with respect to any corporate financial data for 
which the Commission was using the eXtensible 
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Business Reporting Language standard as of the 
date of enactment of this Act. 
(2) 
SCALING
OF
REGULATORY
REQUIRE-
MENTS.—The Securities and Exchange Commission 
may scale data reporting requirements under this 
section in order to reduce any unjustified burden on 
emerging growth companies, lending institutions, ac-
celerated filers, smaller reporting companies, and 
other smaller issuers, as determined by the study re-
quired under subsection (c), while still providing 
searchable information to investors. 
(3) MINIMIZING DISRUPTION.—In issuing the 
regulations required under the amendments made by 
this section, the Securities and Exchange Commis-
sion shall seek to minimize disruptive changes to the 
persons affected by such regulations. 
(b) BETTER ENFORCEMENT OF THE QUALITY OF 
CORPORATE FINANCIAL DATA SUBMITTED TO THE SECU-
RITIES AND EXCHANGE COMMISSION.— 
(1) DATA QUALITY IMPROVEMENT PROGRAM.— 
Within six months after the date of the enactment 
of this Act, the Commission shall establish a pro-
gram to improve the quality of corporate financial 
data filed or furnished by issuers under the Securi-
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ties Act of 1933 and the Securities Exchange Act of 
1934. The program shall include the following: 
(A) The designation of an official in the 
Office of the Chairman responsible for the im-
provement of the quality of eXtensible Business 
Reporting Language data filed with or fur-
nished to the Commission by issuers. 
(B) The issuance by the Division of Cor-
poration Finance of comment letters requiring 
correction of errors in data filings and submis-
sions, where necessary. 
(2) GOALS.—In establishing the program under 
this section, the Commission shall seek to— 
(A) improve the quality of data filed with 
or furnished to the Commission to a commer-
cially acceptable level; and 
(B) make data filed with or furnished to 
the Commission useful to investors. 
(c) REPORT ON THE USE OF MACHINE-READABLE 
DATA FOR CORPORATE DISCLOSURES.— 
(1) IN GENERAL.—Not later than six months 
after the date of the enactment of this Act, and 
every six months thereafter, the Commission shall 
issue a report to the Committee on Financial Serv-
ices of the House of Representatives and the Com-
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mittee on Banking, Housing, and Urban Affairs of 
the Senate on the use of machine-readable data for 
corporate disclosures. 
(2) CONTENT.—Each report required under 
paragraph (1) shall include— 
(A) an identification of which corporate 
disclosures required under section 7 of the Se-
curities Act of 1933, section 13 of the Securi-
ties Exchange Act of 1934, or section 14 of the 
Securities Exchange Act of 1934 are expressed 
as machine-readable data and which are not; 
(B) an analysis of the costs and benefits of 
the use of machine-readable data in corporate 
disclosure to investors, markets, the Commis-
sion, and issuers; 
(C) a summary of enforcement actions that 
result from the use or analysis of machine-read-
able data collected under section 7 of the Secu-
rities Act of 1933, section 13 of the Securities 
Exchange Act of 1934, or section 14 of the Se-
curities Exchange Act of 1934; and 
(D) an analysis of how the Commission is 
itself using the machine-readable data collected 
by the Commission. 
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(d) SUNSET.—On and after the end of the 7-year pe-
riod beginning on the date of the enactment of this Act, 
this section shall have no force or effect. 
SEC. 206. NO NEW DISCLOSURE REQUIREMENTS. 
Nothing in this title or the amendments made by this 
title shall be construed to require the Securities and Ex-
change Commission, the Municipal Securities Rulemaking 
Board, or a national securities association to collect addi-
tional information under the statutes amended by this 
title, beyond information that was collected under such 
statutes before the date of the enactment of this Act. 
TITLE III—FEDERAL DEPOSIT 
INSURANCE CORPORATION 
SEC. 301. DATA STANDARDS REQUIREMENTS FOR THE FED-
ERAL DEPOSIT INSURANCE CORPORATION. 
The Federal Deposit Insurance Act (12 U.S.C. 1811 
et seq.) is amended by adding at the end the following: 
‘‘SEC. 51. DATA STANDARDS. 
‘‘(a) REQUIREMENT.—The Corporation shall, by rule, 
adopt data standards for all information that the Corpora-
tion receives from any depository institution or financial 
company under this Act or under title II of the Dodd- 
Frank Wall Street Reform and Consumer Protection Act. 
‘‘(b) CHARACTERISTICS.—The data standards re-
quired by subsection (a) shall, to the extent practicable— 
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‘‘(1) render information fully searchable and 
machine-readable; 
‘‘(2) be nonproprietary; 
‘‘(3) incorporate standards developed and main-
tained by voluntary consensus standards bodies; and 
‘‘(4) be consistent with and implement applica-
ble accounting and reporting principles. 
‘‘(c) INCORPORATION OF STANDARDS.—In adopting 
data standards by rule under this section, the Corporation 
shall incorporate all applicable data standards promul-
gated by the Secretary of the Treasury. 
‘‘(d) FINANCIAL COMPANY DEFINED.—For purposes 
of this section, the term ‘financial company’ has the mean-
ing given that term under section 201(a) of the Dodd- 
Frank Wall Street Reform and Consumer Protection Act 
(12 U.S.C. 5381(a)).’’. 
SEC. 302. OPEN DATA PUBLICATION BY THE FEDERAL DE-
POSIT INSURANCE CORPORATION. 
The Federal Deposit Insurance Act (12 U.S.C. 1811 
et seq.), as amended by section 301, is further amended 
by adding at the end the following: 
‘‘SEC. 52. OPEN DATA PUBLICATION. 
‘‘All public information published by the Corporation 
under this Act or under the Dodd-Frank Wall Street Re-
form and Consumer Protection Act shall be published as 
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open data, freely available for download in bulk, accessible 
via application programming interface where appropriate, 
and offered without any registration requirement or reuse 
restriction.’’. 
SEC. 303. RULEMAKING. 
(a) IN GENERAL.—Not later than the end of the 2- 
year period beginning on the date of the enactment of this 
Act, the Federal Deposit Insurance Corporation shall 
issue the regulations required under the amendments 
made by this title. 
(b) SCALING OF REGULATORY REQUIREMENTS.—In 
issuing the regulations required under the amendments 
made by this title, the Federal Deposit Insurance Corpora-
tion may scale data reporting requirements in order to re-
duce any unjustified burden on smaller regulated entities. 
(c) MINIMIZING DISRUPTION.—In issuing the regula-
tions required under the amendments made by this title, 
the Federal Deposit Insurance Corporation shall seek to 
minimize disruptive changes to the persons affected by 
such regulations. 
SEC. 304. NO NEW DISCLOSURE REQUIREMENTS. 
Nothing in this title or the amendments made by this 
title shall be construed to require the Federal Deposit In-
surance Corporation to collect additional information 
under the statutes amended by this title, beyond informa-
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tion that was collected under such statutes before the date 
of the enactment of this Act. 
TITLE 
IV—OFFICE 
OF 
THE 
COMPTROLLER OF THE CUR-
RENCY 
SEC. 401. DATA STANDARDS AND OPEN DATA PUBLICATION 
REQUIREMENTS FOR THE OFFICE OF THE 
COMPTROLLER OF THE CURRENCY. 
The Revised Statutes of the United States is amend-
ed by inserting after section 332 (12 U.S.C. 14) the fol-
lowing: 
‘‘SEC. 333. DATA STANDARDS; OPEN DATA PUBLICATION. 
‘‘(a) DATA STANDARDS.— 
‘‘(1) REQUIREMENT.—The Comptroller of the 
Currency shall, by rule, adopt data standards for all 
information that is regularly filed with or submitted 
to the Comptroller of the Currency by any entity 
with respect to which the Office of the Comptroller 
of the Currency is the appropriate Federal banking 
agency (as defined under section 3 of the Federal 
Deposit Insurance Act). 
‘‘(2) CHARACTERISTICS.—The data standards 
required by paragraph (1) shall, to the extent prac-
ticable— 
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‘‘(A) render information fully searchable 
and machine-readable; 
‘‘(B) be nonproprietary; 
‘‘(C) incorporate standards developed and 
maintained by voluntary consensus standards 
bodies; and 
‘‘(D) be consistent with and implement ap-
plicable accounting and reporting principles. 
‘‘(3) 
INCORPORATION
OF
STANDARDS.—In 
adopting data standards by rule under this sub-
section, the Comptroller of the Currency shall incor-
porate all applicable data standards promulgated by 
the Secretary of the Treasury. 
‘‘(b) OPEN DATA PUBLICATION.—All public informa-
tion published by the Comptroller of the Currency under 
title LXII or the Dodd-Frank Wall Street Reform and 
Consumer Protection Act shall be published as open data, 
freely available for download in bulk, accessible via appli-
cation programming interface where appropriate, and of-
fered without any registration requirement or reuse re-
striction.’’. 
SEC. 402. RULEMAKING. 
(a) IN GENERAL.—Not later than the end of the 2- 
year period beginning on the date of the enactment of this 
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Act, the Comptroller of the Currency shall issue the regu-
lations required under the amendments made by this title. 
(b) SCALING OF REGULATORY REQUIREMENTS.—In 
issuing the regulations required under the amendments 
made by this title, the Comptroller of the Currency may 
scale data reporting requirements in order to reduce any 
unjustified burden on smaller regulated entities. 
(c) MINIMIZING DISRUPTION.—In issuing the regula-
tions required under the amendments made by this title, 
the Comptroller of the Currency shall seek to minimize 
disruptive changes to the persons affected by such regula-
tions. 
SEC. 403. NO NEW DISCLOSURE REQUIREMENTS. 
Nothing in this title or the amendments made by this 
title shall be construed to require the Comptroller of the 
Currency to collect additional information under the stat-
utes amended by this title, beyond information that was 
collected under such statutes before the date of the enact-
ment of this Act. 
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TITLE 
V—BUREAU 
OF 
CON-
SUMER FINANCIAL PROTEC-
TION 
SEC. 501. DATA STANDARDS AND OPEN DATA PUBLICATION 
REQUIREMENTS FOR THE BUREAU OF CON-
SUMER FINANCIAL PROTECTION. 
(a) IN GENERAL.—The Consumer Financial Protec-
tion Act of 2010 (12 U.S.C. 5481 et seq.) is amended by 
inserting after section 1018 the following: 
‘‘SEC. 1019. DATA STANDARDS. 
‘‘(a) REQUIREMENT.—The Bureau shall, by rule, 
adopt data standards for all information that is regularly 
filed with or submitted to the Bureau under this title. 
‘‘(b) CHARACTERISTICS.—The data standards re-
quired by subsection (a) shall, to the extent practicable— 
‘‘(1) render information fully searchable and 
machine-readable; 
‘‘(2) be nonproprietary; 
‘‘(3) incorporate standards developed and main-
tained by voluntary consensus standards bodies; and 
‘‘(4) be consistent with and implement applica-
ble accounting and reporting principles. 
‘‘(c) INCORPORATION OF STANDARDS.—In adopting 
data standards by rule under this section, the Bureau 
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shall incorporate all applicable data standards promul-
gated by the Secretary of the Treasury. 
‘‘SEC. 1020. OPEN DATA PUBLICATION. 
‘‘All public information published by the Bureau 
under this title shall be published as open data, freely 
available for download in bulk, accessible via application 
programming interface where appropriate, and offered 
without any registration requirement or reuse restric-
tion.’’. 
(b) CLERICAL AMENDMENT.—The table of contents 
under section 1(b) of the Dodd-Frank Wall Street Reform 
and Consumer Protection Act is amended by inserting 
after the item relating to section 1018 the following: 
‘‘Sec. 1019. Data standards. 
‘‘Sec. 1020. Open data publication.’’. 
SEC. 502. RULEMAKING. 
(a) IN GENERAL.—Not later than the end of the 2- 
year period beginning on the date of the enactment of this 
Act, the Bureau of Consumer Financial Protection shall 
issue the regulations required under the amendments 
made by this title. 
(b) SCALING OF REGULATORY REQUIREMENTS.—In 
issuing the regulations required under the amendments 
made by this title, the Bureau of Consumer Financial Pro-
tection may scale data reporting requirements in order to 
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reduce any unjustified burden on smaller regulated enti-
ties. 
(c) MINIMIZING DISRUPTION.—In issuing the regula-
tions required under the amendments made by this title, 
the Bureau of Consumer Financial Protection shall seek 
to minimize disruptive changes to the persons affected by 
such regulations. 
SEC. 503. NO NEW DISCLOSURE REQUIREMENTS. 
Nothing in this title or the amendments made by this 
title shall be construed to require the Bureau of Consumer 
Financial Protection to collect additional information 
under the statutes amended by this title, beyond informa-
tion that was collected under such statutes before the date 
of the enactment of this Act. 
TITLE VI—FEDERAL RESERVE 
SYSTEM 
SEC. 601. DATA STANDARDS REQUIREMENTS FOR THE 
BOARD OF GOVERNORS OF THE FEDERAL RE-
SERVE SYSTEM. 
(a) DATA STANDARDS FOR INFORMATION FILED OR 
SUBMITTED BY NONBANK FINANCIAL COMPANIES.—Sec-
tion 161(a) of the Financial Stability Act of 2010 (12 
U.S.C. 5361(a)) is amended by adding at the end the fol-
lowing: 
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‘‘(4) DATA STANDARDS FOR REPORTS UNDER 
THIS SUBSECTION.— 
‘‘(A) IN
GENERAL.—The Board of Gov-
ernors shall adopt data standards for all finan-
cial data that is regularly filed with or sub-
mitted to the Board of Governors by any 
nonbank financial company pursuant to this 
subsection. 
‘‘(B) CHARACTERISTICS.—The data stand-
ards required by this section shall, to the extent 
practicable— 
‘‘(i) render information fully search-
able and machine-readable; 
‘‘(ii) be nonproprietary; 
‘‘(iii) incorporate standards developed 
and maintained by voluntary consensus 
standards bodies; and 
‘‘(iv) be consistent with and imple-
ment applicable accounting and reporting 
principles. 
‘‘(C) INCORPORATION OF STANDARDS.—In 
adopting data standards by rule under this 
paragraph, the Board of Governors shall incor-
porate all applicable data standards promul-
gated by the Secretary of the Treasury.’’. 
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(b) DATA STANDARDS FOR INFORMATION FILED OR 
SUBMITTED BY SAVINGS AND LOAN HOLDING COMPA-
NIES.—Section 10 of the Home Owners’ Loan Act (12 
U.S.C. 1467a) is amended by adding at the end the fol-
lowing: 
‘‘(u) DATA STANDARDS.— 
‘‘(1) REQUIREMENT.—The Board shall adopt 
data standards for all information that is regularly 
filed with or submitted to the Board by any savings 
and loan holding company, or subsidiary of a savings 
and loan holding company, other than a depository 
institution, under this section. 
‘‘(2) CHARACTERISTICS.—The data standards 
required by this subsection shall, to the extent prac-
ticable— 
‘‘(A) render information fully searchable 
and machine-readable; 
‘‘(B) be nonproprietary; 
‘‘(C) incorporate standards developed and 
maintained by voluntary consensus standards 
bodies; and 
‘‘(D) be consistent with and implement ap-
plicable accounting and reporting principles. 
‘‘(3) 
INCORPORATION
OF
STANDARDS.—In 
adopting data standards by rule under this section, 
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the Board of Governors shall incorporate all applica-
ble data standards promulgated by the Secretary of 
the Treasury.’’. 
(c) DATA STANDARDS FOR INFORMATION FILED OR 
SUBMITTED BY BANK HOLDING COMPANIES.—Section 5 
of the Bank Holding Company Act of 1956 (12 U.S.C. 
1844) is amended by adding at the end the following: 
‘‘(h) DATA STANDARDS.— 
‘‘(1) REQUIREMENT.—The Board shall adopt 
data standards for all information that is regularly 
filed with or submitted to the Board by any bank 
holding company in a report under subsection (c). 
‘‘(2) CHARACTERISTICS.—The data standards 
required by this subsection shall, to the extent prac-
ticable— 
‘‘(A) render information fully searchable 
and machine-readable; 
‘‘(B) be nonproprietary; 
‘‘(C) incorporate standards developed and 
maintained by voluntary consensus standards 
bodies; and 
‘‘(D) be consistent with and implement ap-
plicable accounting and reporting principles. 
‘‘(3) 
INCORPORATION
OF
STANDARDS.—In 
adopting data standards under this subsection, the 
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Board shall incorporate all applicable data standards 
promulgated by the Secretary of the Treasury.’’. 
(d) DATA STANDARDS
FOR INFORMATION SUB-
MITTED BY FINANCIAL MARKET UTILITIES OR INSTITU-
TIONS UNDER THE PAYMENT, CLEARING, AND SETTLE-
MENT SUPERVISION ACT OF 2010.—Section 809 of the 
Payment, Clearing, and Settlement Supervision Act of 
2010 (12 U.S.C. 5468) is amended by adding at the end 
the following: 
‘‘(h) DATA STANDARDS.— 
‘‘(1) REQUIREMENT.—The Board of Governors 
shall adopt data standards for all information that 
is regularly filed with or submitted to the Board by 
any financial market utility or financial institution 
under subsection (a) or (b). 
‘‘(2) CHARACTERISTICS.—The data standards 
required by this subsection shall, to the extent prac-
ticable— 
‘‘(A) render information fully searchable 
and machine-readable; 
‘‘(B) be nonproprietary; 
‘‘(C) incorporate standards developed and 
maintained by voluntary consensus standards 
bodies; and 
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‘‘(D) be consistent with and implement ap-
plicable accounting and reporting principles. 
‘‘(3) 
INCORPORATION
OF
STANDARDS.—In 
adopting data standards under this subsection, the 
Board of Governors shall incorporate all applicable 
data standards promulgated by the Secretary of the 
Treasury.’’. 
SEC. 602. OPEN DATA PUBLICATION BY THE BOARD OF 
GOVERNORS OF THE FEDERAL RESERVE SYS-
TEM. 
The Federal Reserve Act (12 U.S.C. 226 et seq.) is 
amended by adding at the end the following: 
‘‘SEC. 32. OPEN DATA PUBLICATION BY THE BOARD OF 
GOVERNORS. 
‘‘All public information published by the Board of 
Governors under this Act, the Bank Holding Company Act 
of 1956, the Financial Stability Act of 2010, the Home 
Owners’ Loan Act, the Payment, Clearing, and Settlement 
Supervision Act of 2010, or the Enhancing Financial In-
stitution Safety and Soundness Act of 2010 shall be pub-
lished as open data, freely available for download in bulk, 
accessible via application programming interface where 
appropriate, and offered without any registration require-
ment or reuse restriction.’’. 
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SEC. 603. RULEMAKING. 
(a) IN GENERAL.—Not later than the end of the 2- 
year period beginning on the date of the enactment of this 
Act, the Board of Governors of the Federal Reserve Sys-
tem shall issue the regulations required under the amend-
ments made by this title. 
(b) SCALING OF REGULATORY REQUIREMENTS.—In 
issuing the regulations required under the amendments 
made by this title, the Board of Governors of the Federal 
Reserve System may scale data reporting requirements in 
order to reduce any unjustified burden on smaller regu-
lated entities. 
(c) MINIMIZING DISRUPTION.—In issuing the regula-
tions required under the amendments made by this title, 
the Board of Governors of the Federal Reserve System 
shall seek to minimize disruptive changes to the persons 
affected by such regulations. 
SEC. 604. NO NEW DISCLOSURE REQUIREMENTS. 
Nothing in this title or the amendments made by this 
title shall be construed to require the Board of Governors 
of the Federal Reserve System to collect additional infor-
mation under the statutes amended by this title, beyond 
information that was collected under such statutes before 
the date of the enactment of this Act. 
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TITLE 
VII—COMMODITY 
FU-
TURES 
TRADING 
COMMIS-
SION 
SEC. 701. DATA STANDARDS. 
The Commodity Exchange Act (7 U.S.C. 1 et seq.) 
is amended by adding at the end the following: 
‘‘SEC. 24. DATA STANDARDS. 
‘‘(a) REQUIREMENT.—The Commission shall, by rule, 
adopt data standards for all information that is regularly 
filed with or submitted to the Commission under this Act, 
all information that is required to be reported to a reg-
istered swap data repository under this Act, and all infor-
mation that is required to be publicly disclosed by parties 
to a swap under this Act. 
‘‘(b) CHARACTERISTICS.—The data standards re-
quired by subsection (a) shall, to the extent practicable— 
‘‘(1) render information fully searchable and 
machine-readable; 
‘‘(2) be nonproprietary; 
‘‘(3) incorporate standards developed and main-
tained by voluntary consensus standards bodies; and 
‘‘(4) be consistent with and implement applica-
ble accounting and reporting principles. 
‘‘(c) INCORPORATION OF STANDARDS.—In adopting 
data standards by rule under this section, the Commission 
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shall incorporate all applicable data standards promul-
gated by the Secretary of the Treasury.’’. 
SEC. 702. OPEN DATA PUBLICATION BY THE COMMODITY 
FUTURES TRADING COMMISSION. 
The Commodity Exchange Act (7 U.S.C. 1 et seq.), 
as amended by section 701, is further amended by adding 
at the end the following: 
‘‘SEC. 25. OPEN DATA PUBLICATION. 
‘‘All public information published by the Commission 
under this Act shall be published as open data, freely 
available for download in bulk, accessible via application 
programming interface where appropriate, and offered 
without any registration requirement or reuse restric-
tion.’’. 
SEC. 703. RULEMAKING. 
(a) IN GENERAL.—Not later than the end of the 2- 
year period beginning on the date of the enactment of this 
Act, the Commodity Futures Trading Commission shall 
issue the regulations required under the amendments 
made by this title. 
(b) SCALING OF REGULATORY REQUIREMENTS.—In 
issuing the regulations required under the amendments 
made by this title, the Commodity Futures Trading Com-
mission may scale data reporting requirements in order 
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to reduce any unjustified burden on smaller regulated en-
tities. 
(c) MINIMIZING DISRUPTION.—In issuing the regula-
tions required under the amendments made by this title, 
the Commodity Futures Trading Commission shall seek 
to minimize disruptive changes to the persons affected by 
such regulations. 
SEC. 704. NO NEW DISCLOSURE REQUIREMENTS. 
Nothing in this title or the amendments made by this 
title shall be construed to require the Commodity Futures 
Trading Commission to collect additional information 
under the statutes amended by this title, beyond informa-
tion that was collected under such statutes before the date 
of the enactment of this Act. 
TITLE VIII—NATIONAL CREDIT 
UNION ADMINISTRATION 
SEC. 801. DATA STANDARDS. 
Title I of the Federal Credit Union Act (12 U.S.C. 
1752 et seq.) is amended by adding at the end the fol-
lowing: 
‘‘SEC. 132. DATA STANDARDS. 
‘‘(a) REQUIREMENT.—The Board shall, by rule, 
adopt data standards for all information and reports regu-
larly filed with or submitted to the Administration under 
this Act. 
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‘‘(b) CHARACTERISTICS.—The data standards re-
quired by subsection (a) shall, to the extent practicable— 
‘‘(1) render information fully searchable and 
machine-readable; 
‘‘(2) be nonproprietary; 
‘‘(3) incorporate standards developed and main-
tained by voluntary consensus standards bodies; and 
‘‘(4) be consistent with and implement applica-
ble accounting and reporting principles. 
‘‘(c) INCORPORATION OF STANDARDS.—In adopting 
data standards by rule under this section, the Board shall 
incorporate all applicable data standards promulgated by 
the Secretary of the Treasury.’’. 
SEC. 802. OPEN DATA PUBLICATION BY THE NATIONAL 
CREDIT UNION ADMINISTRATION. 
Title I of the Federal Credit Union Act (12 U.S.C. 
1752 et seq.), as amended by section 801, is further 
amended by adding at the end the following: 
‘‘SEC. 133. OPEN DATA PUBLICATION. 
‘‘All public information published by the Administra-
tion under this title shall be published as open data, freely 
available for download in bulk, accessible via application 
programming interface where appropriate, and offered 
without any registration requirement or reuse restric-
tion.’’. 
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SEC. 803. RULEMAKING. 
(a) IN GENERAL.—Not later than the end of the 2- 
year period beginning on the date of the enactment of this 
Act, the National Credit Union Administration Board 
shall issue the regulations required under the amendments 
made by this title. 
(b) SCALING OF REGULATORY REQUIREMENTS.—In 
issuing the regulations required under the amendments 
made by this title, the National Credit Union Administra-
tion Board may scale data reporting requirements in order 
to reduce any unjustified burden on smaller regulated en-
tities. 
(c) MINIMIZING DISRUPTION.—In issuing the regula-
tions required under the amendments made by this title, 
the National Credit Union Administration Board shall 
seek to minimize disruptive changes to the persons af-
fected by such regulations. 
SEC. 804. NO NEW DISCLOSURE REQUIREMENTS. 
Nothing in this title or the amendments made by this 
title shall be construed to require the National Credit 
Union Administration Board to collect additional informa-
tion under the statutes amended by this title, beyond in-
formation that was collected under such statutes before 
the date of the enactment of this Act. 
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