I 
115TH CONGRESS 
1ST SESSION H. R. 4292 
To reform the living will process under the Dodd-Frank Wall Street Reform 
and Consumer Protection Act. 
IN THE HOUSE OF REPRESENTATIVES 
NOVEMBER 7, 2017 
Mr. ZELDIN (for himself and Mrs. CAROLYN B. MALONEY of New York) intro-
duced the following bill; which was referred to the Committee on Finan-
cial Services 
A BILL 
To reform the living will process under the Dodd-Frank 
Wall Street Reform and Consumer Protection Act. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Financial Institution 
Living Will Improvement Act of 2017’’. 
SEC. 2. LIVING WILL REFORMS. 
(a) IN GENERAL.—Section 165(d) of the Dodd- 
Frank Wall Street Reform and Consumer Protection Act 
(12 U.S.C. 5365) is amended— 
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(1) in paragraph (1), by striking ‘‘periodically’’ 
and inserting ‘‘not more often than every 2 years’’; 
and 
(2) in paragraph (3)— 
(A) by striking ‘‘The Board’’ and inserting 
the following: 
‘‘(A) IN GENERAL.—The Board’’; 
(B) by striking ‘‘shall review’’ and insert-
ing the following: ‘‘shall— 
‘‘(i) review’’; 
(C) by striking the period and inserting ‘‘; 
and’’; and 
(D) by adding at the end the following: 
‘‘(ii) not later than the end of the 6- 
month period beginning on the date the 
company submits the resolution plan, pro-
vide feedback to the company on such 
plan. 
‘‘(B) 
DISCLOSURE
OF
ASSESSMENT 
FRAMEWORK.—The Board of Governors and 
the Corporation shall publicly disclose the as-
sessment framework that is used to review in-
formation under this paragraph.’’. 
(b) TREATMENT OF OTHER RESOLUTION PLAN RE-
QUIREMENTS.— 
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(1) IN GENERAL.—With respect to an appro-
priate Federal banking agency that requires a bank-
ing organization to submit to the agency a resolution 
plan not described under section 165(d) of the 
Dodd-Frank Wall Street Reform and Consumer Pro-
tection Act— 
(A) the agency shall comply with the re-
quirements of paragraphs (3) and (4) of such 
section 165(d); 
(B) the agency may not require the sub-
mission of such a resolution plan more often 
than every 2 years; and 
(C) paragraphs (6) and (7) of such section 
165(d) shall apply to such a resolution plan. 
(2) DEFINITIONS.—For purposes of this sub-
section: 
(A) BANKING
ORGANIZATION.—The term 
‘‘banking organization’’ means— 
(i) an insured depository institution; 
(ii) an insured credit union; 
(iii) a depository institution holding 
company; 
(iv) a company that is treated as a 
bank holding company for purposes of sec-
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tion 8 of the International Banking Act; 
and 
(v) a U.S. intermediate holding com-
pany established by a foreign banking or-
ganization pursuant to section 252.153 of 
title 12, Code of Federal Regulations. 
(B) INSURED CREDIT UNION.—The term 
‘‘insured credit union’’ has the meaning given 
that term under section 101 of the Federal 
Credit Union Act. 
(C) OTHER BANKING TERMS.—The terms 
‘‘appropriate Federal banking agency’’, ‘‘deposi-
tory institution holding company’’, and ‘‘insured 
depository institution’’ have the meaning given 
those terms, respectively, under section 3 of the 
Federal Deposit Insurance Act. 
Æ 
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