S 881 Re-checks Congress.gov for new actions and updates the bill's status, and fills in any sponsors, committees, or related bills that are missing. It does not re-pull sponsors/cosponsors/committees/related — those rarely change — and it skips all work if nothing has changed upstream, so it's cheap to click.
Comprehensive Regulatory Review Act of 2015
To ensure that Federal financial regulators perform a comprehensive review of regulations to identify outdated or otherwise unnecessary regulatory requirements imposed on financial institutions, and for other purposes.
Summary
This bill amends the Economic Growth and Regulatory Paperwork Reduction Act of 1996 to expand the scope of regulatory reviews conducted by federal financial regulators. It requires all five major federal financial regulators—the Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, Federal Reserve Board, Consumer Financial Protection Bureau, and National Credit Union Administration—to conduct a comprehensive review of regulations to identify outdated or unnecessary requirements. The review is expanded to cover all regulations, including those issued under the Dodd-Frank Wall Street Reform and Consumer Protection Act, and applies to all financial institutions rather than just insured depository institutions. The amendment broadens the regulatory review mandate to ensure that financial regulations are periodically assessed for effectiveness and necessity.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
- Sen. Crapo, Mike [R-ID] (R-ID)
Actions (3)
- Apr 14, 2016 Committee on Banking, Housing, and Urban Affairs. Joint hearings held by the Subcommittee on Securities, Insurance, and Investment and the Subcommittee on Economic Policy. Hearings printed: S.Hrg. 114-319. · senate
- Mar 26, 2015 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. · senate
- Mar 26, 2015 Introduced in Senate
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Full text
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.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the “Comprehensive Regulatory Review Act of 2015”.
SEC. 2. 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—
(1) in subsection (a)—
(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”;
(B) 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),”;
(C) by striking “any such appropriate Federal banking agency” and inserting “any such Federal agency”; and
(D) by striking “insured depository institutions” and inserting “financial institutions”;
(2) 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
(3) in subsection (e)—
(A) in paragraph (1), by striking “the appropriate Federal banking agencies” and inserting “the appropriate Federal agencies”; and
(B) in paragraph (2), by striking “the appropriate Federal banking agency” and inserting “the appropriate Federal agency”. <all>
Comments