S.Amdt. 2102

SA 2102. Mr. INHOFE (for himself, Mr. Udall, Mr. Kennedy, Mr.
Cassidy, and Mr. Hoeven) submitted an amendment intended to be proposed
by him to the bill S. 2155, to promote economic growth, provide
tailored regulatory relief, and enhance consumer protections, and for
other purposes; which was ordered to lie on the table; as follows:

At the appropriate place, insert the following:

SEC. ___. REGULATORY RELIEF FOR BANKS DURING DISASTERS.

(a) Definitions.--In this section--
(1) the terms ``appropriate Federal banking agency'' and
``depository institution'' have the meanings given those
terms in section 3 of the Federal Deposit Insurance Act (12
U.S.C. 1813); and
(2) the term ``major disaster'' has the meaning given the
term in section 102 of the Robert T. Stafford Disaster Relief
and Emergency Assistance Act (42 U.S.C. 5122).
(b) Requirement.--Not later than 15 days after the date on
which the President declares a major disaster under section
401 of the Robert T. Stafford Disaster Relief and Emergency
Assistance Act (42 U.S.C. 5170), or not later than 15 days
after a state of disaster is declared by a Governor of a
State for all or part of that State, the appropriate Federal
banking agencies shall issue guidance to depository
institutions located in the area for which the President
declared the major disaster or the Governor declared a state
of disaster, as applicable, for reducing regulatory burdens
for borrowers and communities in order to facilitate recovery
from the disaster.
(c) Contents.--Guidance issued under subsection (b) shall
include instructions from the appropriate Federal banking
agency regarding--
(1) extending repayment terms, adjusting existing loans,
and easing terms for new loans, in accordance with prudent
banking practices that involve appropriate monitoring;
(2) providing relief from reporting and publishing
requirements, including by accepting delayed filing and
publishing of reports by depository institutions in areas
affected by the major disaster or covered by the state of
disaster, as applicable;
(3) taking appropriate actions to stabilize investments in
local government projects affected by the major disaster or
covered by the state of disaster, as applicable;
(4) promoting awareness of the eligibility of depository
institutions for loans or investments made in areas affected
by the major disaster or covered by the state of disaster, as
applicable, under the Community Reinvestment Act of 1977 (12
U.S.C. 2901 et seq.); and
(5) such other issues as determined appropriate by the
appropriate Federal banking agency.
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