IB 
Union Calendar No. 345 
115TH CONGRESS 
1ST SESSION H. R. 4292 
[Report No. 115–465] 
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 
DECEMBER 14, 2017 
Additional sponsors: Mr. ROYCE of California and Ms. SINEMA 
DECEMBER 14, 2017 
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 November 7, 2017] 
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A BILL 
To reform the living will process under the Dodd-Frank 
Wall Street Reform and Consumer Protection Act. 
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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(d)) is amended— 
(1) in paragraph (1), by striking ‘‘periodically’’ 
and inserting ‘‘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 inserting 
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. 
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‘‘(B) DISCLOSURE OF ASSESSMENT FRAME-
WORK.—The Board of Governors and the Cor-
poration shall publicly disclose the assessment 
framework that is used to review information 
under this paragraph.’’. 
(b) TREATMENT OF OTHER RESOLUTION PLAN RE-
QUIREMENTS.— 
(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 Protection 
Act— 
(A) the respective agency shall ensure that 
the review of such resolution plan is consistent 
with the requirements contained in the amend-
ments made by this Act; 
(B) the agency may not require the submis-
sion 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: 
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(A) APPROPRIATE FEDERAL BANKING AGEN-
CY.—The term ‘‘appropriate Federal banking 
agency’’— 
(i) has the meaning given such term 
under section 3 of the Federal Deposit In-
surance Act; and 
(ii) means the National Credit Union 
Administration, in the case of an insured 
credit union. 
(B) 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-
tion 8 of the International Banking Act; 
and 
(v) a U.S. intermediate holding com-
pany established by a foreign banking orga-
nization pursuant to section 252.153 of title 
12, Code of Federal Regulations. 
(C) INSURED
CREDIT
UNION.—The term 
‘‘insured credit union’’ has the meaning given 
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that term under section 101 of the Federal Credit 
Union Act. 
(D) OTHER
BANKING
TERMS.—The terms 
‘‘depository institution holding company’’ and 
‘‘insured depository institution’’ have the mean-
ing given those terms, respectively, under section 
3 of the Federal Deposit Insurance Act. 
(c) RULE OF CONSTRUCTION.—Nothing in this Act, or 
any amendment made by this Act, shall be construed as 
limiting the authority of an appropriate Federal banking 
agency (as defined under subsection (b)(2)) to obtain infor-
mation from an institution in connection with such agen-
cy’s authority to examine or require reports from the insti-
tution. 
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Union Calendar No. 345 
115TH CONGRESS 
1ST SESSION 
H. R. 4292 
[Report No. 115–465] 
A BILL 
To reform the living will process under the Dodd- 
Frank Wall Street Reform and Consumer Protec-
tion Act. 
DECEMBER 14, 2017 
Committed to the Committee of the Whole House on the 
State of the Union and ordered to be printed 
VerDate Sep 11 2014 
21:50 Dec 14, 2017
Jkt 079200
PO 00000
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