S.Amdt. 2126

SA 2126. Mr. REED 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 end of title V, add the following:

SEC. 5__. STUDY ON ECONOMIC GROWTH AND CONSUMER PROTECTION.

(a) Study.--The Comptroller General of the United States
shall conduct a study to evaluate the impact of this Act, and
the amendments made by this Act, on economic growth and
consumer protection, including whether--
(1) any additional revenues generated by financial
institutions as a result of this Act, or the amendments made
by this Act, directly led to any changes in the wages of the

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employees of those financial institutions who are not in
managerial roles;
(2) any revenues described in paragraph (1) with respect to
a financial institution described in that paragraph were
used--
(A) to buy back the securities of that financial
institution; or
(B) to provide higher rates of interest for consumers with
respect to savings accounts or money market accounts;
(3) any positions of employment at any financial
institution affected by this Act, or the amendments made by
this Act, were moved outside of the United States after the
date of enactment of this Act;
(4) a buy back of securities described in subparagraph (A)
of paragraph (2) with respect to a financial institution
described in that paragraph had a direct impact on the
compensation paid to the top 5 highest paid senior executives
of that financial institution;
(5) this Act, or the amendments made by this Act, has had
any material impact on, on a State-by-State basis, the rates
of--
(A) the delinquency of residential mortgages; and
(B) foreclosures; and
(6) during the 3-year period beginning on the date of
enactment of this Act, any settlements or enforcement actions
with respect to a financial institution affected by this Act,
or the amendments made by this Act, could have been avoided
if this Act, and the amendments made by this Act, had not
been enacted, including the costs to investors and consumers
of those settlements or enforcement actions.
(b) Report.--Not later than 4 years after the date of
enactment of this Act, the Comptroller General of the United
States shall submit to the Committee on Banking, Housing, and
Urban Affairs of the Senate and the Committee on Financial
Services of the House of Representatives a report that
includes the findings and conclusions of the Comptroller
General with respect to the study required under subsection
(a).
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