II
114th CONGRESS
1st Session
S. 881
IN THE SENATE OF THE UNITED STATES
March 26, 2015
Mr. Crapo introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs
A BILL
To ensure that Federal financial regulators perform a comprehensive review of regulations to identify outdated or otherwise unnecessary regulatory requirements imposed on financial institutions, and for other purposes.
Short title
This Act may be cited as the Comprehensive Regulatory Review Act of 2015
.
Ensuring a comprehensive regulatory review
Section 2222 of the Economic Growth and Regulatory Paperwork Reduction Act of 1996 (12 U.S.C. 3311) is amended—
in subsection (a)—
by striking each appropriate Federal banking agency represented on the Council
and inserting each of the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, the Bureau of Consumer Financial Protection, and the National Credit Union Administration Board as the Federal agency representatives on the Council
;
by inserting , joint or otherwise, and including all regulations issued pursuant to any authority provided under the Dodd-Frank Wall Street Reform and Consumer Protection Act (Public Law 111–203),
;
by striking any such appropriate Federal banking agency
and inserting any such Federal agency
; and
by striking insured depository institutions
and inserting financial institutions
;
in subsections (b), (c), and (d), by striking the appropriate Federal banking agency
each place that term appears and inserting the appropriate Federal agency
; and
in subsection (e)—
in paragraph (1), by striking the appropriate Federal banking agencies
and inserting the appropriate Federal agencies
; and
in paragraph (2), by striking the appropriate Federal banking agency
and inserting the appropriate Federal agency
.