H.R.3198 - Comprehensive Regulatory Review Act116th Congress (2019-2020) |
|Sponsor:||Rep. Loudermilk, Barry [R-GA-11] (Introduced 06/11/2019)|
|Committees:||House - Financial Services|
|Latest Action:||House - 06/11/2019 Referred to the House Committee on Financial Services. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
- Passed House
- Passed Senate
- To President
- Became Law
Summary: H.R.3198 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in House (06/11/2019)
Comprehensive Regulatory Review Act
This bill expands the required comprehensive review of financial regulatory requirements. Specifically, the review must be completed by the Consumer Financial Protection Bureau (CFPB) and the National Credit Union Administration, in addition to (as required under current law) the Federal Financial Institutions Examination Council, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the Federal Reserve Board. The review must be performed at least every 7, rather than 10, years.
After performing the review, a regulator must consider tailoring regulations to limit specified burdens.
The bill specifies information and criteria the CFPB must use when conducting its review.