Comprehensive Regulatory Review Act

Bill: 115-hr-4607
Sponsor: Rep. Loudermilk, Barry [R-GA-11]
Introduced: 2017-12-11 in the House
Policy area: Finance and Financial Sector
Subjects: Administrative law and regulatory procedures
Banking and financial institutions regulation
Consumer Financial Protection Bureau
Consumer credit
Department of the Treasury
Federal Deposit Insurance Corporation (FDIC)
Federal Reserve System
National Credit Union Administration

Summary:
action_date: 2017-12-11
text: 

Comprehensive Regulatory Review Act

 
This bill amends the Economic Growth and Regulatory Paperwork Reduction Act of 1996 to expand the required comprehensive review of financial regulatory requirements. Specifically, the review must be completed by the Consumer Financial Protection Bureau (CFPB) and the National Credit Union Administration, in addition to (as required under current law) the Federal Financial Institutions Examination Council, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the Federal Reserve Board. The review must be performed at least every 7, rather than 10, years.
 
After performing the review, a regulator must consider tailoring regulations to limit specified burdens.
 
The bill specifies information and criteria the CFPB must use when conducting its review. 

action_date: 2018-02-23
text: 
(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)
 

Comprehensive Regulatory Review Act

 
(Sec. 2) This bill amends the Economic Growth and Regulatory Paperwork Reduction Act of 1996 to expand the required comprehensive review of financial regulatory requirements. Specifically, the review must be completed by the Consumer Financial Protection Bureau (CFPB) and the National Credit Union Administration, in addition to (as required under current law) the Federal Financial Institutions Examination Council, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the Federal Reserve Board.
 
(Sec. 3) The review must be performed at least every 7, rather than 10, years.
 
(Sec. 4) After performing the review, a regulator must consider tailoring regulations to limit specified burdens.
 
(Sec. 5) The bill specifies information and criteria the CFPB must use when conducting its review. 

action_date: 2018-03-06
text: 

Comprehensive Regulatory Review Act

 
(Sec. 2) This bill amends the Economic Growth and Regulatory Paperwork Reduction Act of 1996 to expand the required comprehensive review of financial regulatory requirements. Specifically, the review must be completed by the Consumer Financial Protection Bureau (CFPB) and the National Credit Union Administration, in addition to (as required under current law) the Federal Financial Institutions Examination Council, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the Federal Reserve Board.
 
(Sec. 3) The review must be performed at least every 7, rather than 10, years.
 
(Sec. 4) After performing the review, a regulator must consider tailoring regulations to limit specified burdens.
 
(Sec. 5) The bill specifies information and criteria the CFPB must use when conducting its review. 
 
(Sec. 6) The bill amends the Federal Reserve Act to lower the maximum allowable amount of surplus funds of the Federal Reserve banks.


Legislative actions:
action_date: 2018-03-07
text: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
action_date: 2018-03-06
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2018-03-06
text: On passage Passed by the Yeas and Nays: 264 - 143 (Roll no. 95). (text: CR H1382-1383)
action_date: 2018-03-06
text: Passed/agreed to in House: On passage Passed by the Yeas and Nays: 264 - 143 (Roll no. 95).(text: CR H1382-1383)
action_date: 2018-03-06
text: On motion to recommit with instructions Failed by the Yeas and Nays: 182 - 228 (Roll no. 94).
action_date: 2018-03-06
text: Considered as unfinished business. (consideration: CR H1420-1421)
action_date: 2018-03-06
text: POSTPONED PROCEEDINGS - At the conclusion of debate on the Clark (MA) motion to recommit, the Chair put the question on adoption of the motion and by voice vote, announced the noes had prevailed. Ms. Clark (MA) demanded the yeas and nays and the Chair postponed further proceedings on the motion to recommit until later in the legislative day.
action_date: 2018-03-06
text: The previous question on the motion to recommit with instructions was ordered without objection.
action_date: 2018-03-06
text: DEBATE - The House proceeded with 10 minutes of debate on the Clark (MA) motion to recommit with instructions pending a reservation of a point of order. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment to strike on Page 3, line 21 the language "otherwise determined" and insert "such action is at the request of and for the personal gain of the President, his or her immediate family members, or senior Executive Branch officials who are required to file annual financial disclosure forms or is other determined inappropriate". Subsequently, the point of order was withdrawn.
action_date: 2018-03-06
text: Ms. Clark (MA) moved to recommit with instructions to the Committee on Financial Services. (text: CR H1389)
action_date: 2018-03-06
text: The previous question was ordered pursuant to the rule.
action_date: 2018-03-06
text: DEBATE - The House proceeded with one hour of debate on H.R. 4607.
action_date: 2018-03-06
text: Rule provides for consideration of H.R. 4296 and H.R. 4607. Rule provides for consideration of H.R. 4296 and H.R. 4607 under closed rules with one hour of debate equally divided and controlled by the Chair and Ranking Member of the Committee on Financial Services for each measure.
action_date: 2018-03-06
text: Considered under the provisions of rule H. Res. 747. (consideration: CR H1382-1389)
action_date: 2018-02-27
text: Rule H. Res. 747 passed House.
action_date: 2018-02-26
text: Rules Committee Resolution H. Res. 747 Reported to House. Rule provides for consideration of H.R. 4296 and H.R. 4607. Rule provides for consideration of H.R. 4296 and H.R. 4607 under closed rules with one hour of debate equally divided and controlled by the Chair and Ranking Member of the Committee on Financial Services for each measure.
action_date: 2018-02-23
text: Placed on the Union Calendar, Calendar No. 433.
action_date: 2018-02-23
text: Reported by the Committee on Financial Services. H. Rept. 115-573.
action_date: 2018-02-23
text: Reported by the Committee on Financial Services. H. Rept. 115-573.
action_date: 2018-01-18
text: Ordered to be Reported by the Yeas and Nays: 38 - 17.
action_date: 2018-01-18
text: Committee Consideration and Mark-up Session Held.
action_date: 2018-01-17
text: Committee Consideration and Mark-up Session Held.
action_date: 2017-12-11
text: Referred to the House Committee on Financial Services.
action_date: 2017-12-11
text: Introduced in House
action_date: 2017-12-11
text: Introduced in House