S.Amdt. 2160

SA 2160. Ms. CORTEZ MASTO submitted an amendment intended to be
proposed by her 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 section 401, add the following:
(__) No Relief for Bad Actors.--
(1) Definitions.--In this subsection:
(A) Bad actor.--The term ``bad actor'' means a bank holding
company with total consolidated assets equal to or greater
than $50,000,000,000 if the company, its predecessor, or any
of its subsidiaries was subject to an order, judgment, or
decree of any court of competent jurisdiction entered on or
after July 21, 2010, or a final order of an Executive agency
entered on or after July 21, 2010, that--
(i) is the result of an enforcement action initiated by an
Executive agency or State attorney general;
(ii) imposes penalties for violations--

(I) of any Federal or State law related to mortgage
origination, servicing, or foreclosure processing, as defined
by the Board of Governors of the Federal Reserve System; or
(II) involving the offer or sale of residential mortgage-
backed securities or any financial instrument that references
residential mortgage-backed securities under--

(aa) the Securities Act of 1933 (15 U.S.C. 77b et seq.); or
(bb) the Securities Exchange Act of 1934 (15 U.S.C. 78a et
seq.); and
(iii) imposes monetary penalties of more than $1,000,000.
(B) Executive agency.--The term ``Executive agency'' has
the meaning given the term in section 105 of title 5, United
States Code.
(2) Prohibition.--Notwithstanding any other provision in
this title, a bad actor shall be subject to standards or
requirements under sections 116(a), 121(a), 155(d), 163(b),
164, and 165 of the Financial Stability Act of 2010 (12
U.S.C. 5326(a), 5331(a), 5345(d), 5363(b), 5364, 5365) that
are no less stringent than the standards or requirements
applicable to the bad actor on December 1, 2017.
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