Main Street Regulatory Fairness Act

Bill: 115-s-1139
Sponsor: full_name: Sen. Tester, Jon [D-MT]
Introduced: 2017-05-16
Policy area: Finance and Financial Sector
Subjects: Banking and financial institutions regulation

Government information and archives
Latest action: action_date: 2017-05-16
text: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Summaries:
action_date: 2017-05-16
action_desc: Introduced in Senate
text: <p><strong>Main Street Regulatory Fairness Act</strong></p> <p>This bill amends the Financial Stability Act of 2010 to increase, from&nbsp;$10 billion to $50 billion, the consolidated-assets threshold at which stress-testing requirements apply to certain financial companies. The bill also specifies that stress tests must be conducted periodically (rather than semiannually&nbsp;or annually, depending on the type of financial company, as required under current law).</p>

tv_txt: II 115th CONGRESS 1st Session S. 1139 IN THE SENATE OF THE UNITED STATES May 16, 2017 Mr. Tester (for himself, Mr. Moran , and Ms. Heitkamp ) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs A BILL To amend the Financial Stability Act of 2010 to modify the requirements of stress tests.

1. Short title This Act may be cited as the Main Street Regulatory Fairness Act . 2. Enhanced supervision and prudential standards for nonbank financial companies supervised by the Board of Governors and certain bank holding companies Section 165(i)(2)(A) of the Financial Stability Act of 2010 ( 12 U.S.C. 5365(i) ) is amended— (1) in the first sentence, by striking semiannual and inserting periodic ; and (2) in the second sentence— (A) by striking $10,000,000,000 and inserting $50,000,000,000 ; and (B) by striking annual and inserting periodic .