S.Amdt. 2165

SA 2165. 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 title III, add the following:

SEC. 3__. ARBITRATION AGREEMENTS.

(a) Definitions.--In this section, the terms ``bank'' and
``credit union'' have the meanings given those terms in
section 2 of the Dodd-Frank Wall Street Reform and Consumer
Protection Act (12 U.S.C. 5301).
(b) Revival of the Arbitration Agreements Rule.--
(1) In general.--The Joint Resolution entitled ``Joint
Resolution providing for congressional disapproval under
chapter 8 of title 5, United States Code, of the rule
submitted by Bureau of Consumer Financial Protection relating
to `Arbitration Agreements','' approved November 1, 2017
(Public Law 115-74), is repealed.
(2) Applicability.--
(A) In general.--Except as provided in subparagraph (B),
part 1040 of title 12, Code of Federal Regulations, as in
effect on October 31, 2017, shall be applied and administered
as if the Joint Resolution described in paragraph (1) had not
been enacted.
(B) Exemption for community financial institutions.--Part
1040 of title 12, Code of Federal Regulations, shall not
apply to any bank or credit union that, together with its
affiliates, has less than $10,000,000,000 in total
consolidated assets.
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