Comprehensive Regulatory Review Act of 2015

Bill: 114-s-881
Sponsor: full_name: Sen. Crapo, Mike [R-ID]
Introduced: 2015-03-26
Policy area: Finance and Financial Sector
Subjects: Administrative law and regulatory procedures

Banking and financial institutions regulation

Consumer Financial Protection Bureau

Department of the Treasury

Federal Deposit Insurance Corporation (FDIC)

Federal Reserve System

National Credit Union Administration
Latest action: action_date: 2016-04-14
text: Committee on Banking, Housing, and Urban Affairs. Joint hearings held by the Subcommittee on Securities, Insurance, and Investment and the Subcommittee on Economic Policy. Hearings printed: S.Hrg. 114-319.

Summaries:
action_date: 2015-03-26
action_desc: Introduced in Senate
text: <p><b>Comprehensive Regulatory Review Act of 2015</b></p> <p>This bill amends the Economic Growth and Regulatory Paperwork Reduction Act of 1996 to specify the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, the Consumer Financial Protection Bureau, and the National Credit Union Administration Board as the federal agency representatives on the Federal Financial Institutions Examination Council which are required, along with the Council, to review all Council-prescribed regulations at least once every 10 years in order to identify outdated or unnecessary regulatory requirements imposed upon financial institutions (currently, only insured depository institutions).</p> <p> This decennial review shall include all regulations issued pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act.</p>

tv_txt: II 114th CONGRESS 1st Session S. 881 IN THE SENATE OF THE UNITED STATES March 26, 2015 Mr. Crapo introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs A BILL To ensure that Federal financial regulators perform a comprehensive review of regulations to identify outdated or otherwise unnecessary regulatory requirements imposed on financial institutions, and for other purposes.

1. Short title This Act may be cited as the Comprehensive Regulatory Review Act of 2015 . 2. Ensuring a comprehensive regulatory review Section 2222 of the Economic Growth and Regulatory Paperwork Reduction Act of 1996 ( 12 U.S.C. 3311 ) is amended— (1) in subsection (a)— (A) by striking each appropriate Federal banking agency represented on the Council and inserting each of the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, the Bureau of Consumer Financial Protection, and the National Credit Union Administration Board as the Federal agency representatives on the Council ; (B) by inserting , joint or otherwise, and including all regulations issued pursuant to any authority provided under the Dodd-Frank Wall Street Reform and Consumer Protection Act ( Public Law 111–203 ), ; (C) by striking any such appropriate Federal banking agency and inserting any such Federal agency ; and (D) by striking insured depository institutions and inserting financial institutions ; (2) in subsections (b), (c), and (d), by striking the appropriate Federal banking agency each place that term appears and inserting the appropriate Federal agency ; and (3) in subsection (e)— (A) in paragraph (1), by striking the appropriate Federal banking agencies and inserting the appropriate Federal agencies ; and (B) in paragraph (2), by striking the appropriate Federal banking agency and inserting the appropriate Federal agency .