US HR4607

Bill

US HR4607

Comprehensive Regulatory Review Act

Introduced
12/11/2017

In Committee
01/18/2018

Crossed Over
03/07/2018

Passed

Dead
12/31/2018

Introduced Session

115th Congress

Bill Summary

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.

AI Summary

This bill, the Comprehensive Regulatory Review Act, amends the Economic Growth and Regulatory Paperwork Reduction Act of 1996 to expand the required comprehensive review of financial regulatory requirements. It requires the Consumer Financial Protection Bureau (CFPB) and the National Credit Union Administration to conduct the review, in addition to the existing regulators. The review must be performed at least every 7 years instead of 10 years, and regulators must consider tailoring regulations to limit compliance burdens on covered persons (as defined in the Consumer Financial Protection Act). The CFPB must use relevant information from its own assessments when conducting the review. Additionally, the bill reduces the maximum allowable amount of surplus funds held by the Federal Reserve banks.

Committee Categories

Business and Industry, Housing and Urban Affairs

Sponsors (10)

Barry Loudermilk (R)*, Sean Duffy (R), Josh Gottheimer (D), Robert Pittenger (R), Dennis Ross (R), Kyrsten Sinema (I), Steve Stivers (R), Claudia Tenney (R), Scott Tipton (R), Roger Williams (R),

Last Action

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (on 03/07/2018)

Official Document

https://www.congress.gov/bill/115th-congress/house-bill/4607/all-info

(3 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://www.congress.gov/bill/115th-congress/house-bill/4607/all-info
BillText	https://www.congress.gov/115/bills/hr4607/BILLS-115hr4607eh.pdf
Bill	https://www.congress.gov/115/bills/hr4607/BILLS-115hr4607eh.pdf.pdf
BillText	https://www.congress.gov/115/bills/hr4607/BILLS-115hr4607rh.pdf
Bill	https://www.congress.gov/115/bills/hr4607/BILLS-115hr4607rh.pdf.pdf
BillText	https://www.congress.gov/115/bills/hr4607/BILLS-115hr4607ih.pdf
Bill	https://www.congress.gov/115/bills/hr4607/BILLS-115hr4607ih.pdf.pdf

Bill	Bill Name	Last Action	Type
HRes747	Providing for consideration of the bill (H.B. 4296) to place requirements on operational risk capital requirements for banking organizations established by an appropriate Federal banking agency, and providing for consideration of the bill (H.B. 4607) to amend the Economic Growth and Regulatory Paperwork Reduction Act of 1996 to ensure that Federal financial regulators perform a comprehensive review of regulations to identify outdated or otherwise unnecessary regulatory requirements imposed on co	Motion to reconsider laid on the table Agreed to without objection.	Related
HRes905	Providing for consideration of the bill (H.B. 5515) to authorize appropriations for fiscal year 2019 for military activities of the Department of Defense and for military construction, to prescribe military personnel strengths for such fiscal year, and for other purposes; providing for consideration of the bill (S. 204) to authorize the use of unapproved medical products by patients diagnosed with a terminal illness in accordance with State law, and for other purposes; and providing for consider	Motion to reconsider laid on the table Agreed to without objection.	Similar To
S2155	Economic Growth, Regulatory Relief, and Consumer Protection Act	Became Public Law No: 115-174.	Related

Bill > HR4607

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (10)

Last Action

Official Document

bill text

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