Section 1 Short title
This Act may be cited as the “Comprehensive Regulatory Review Act of 2015”.
Comprehensive Regulatory Review Act of 2015
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To ensure that Federal financial regulators perform a comprehensive review of regulations to identify outdated or otherwise unnecessary regulatory requirements imposed on financial institutions, and for other purposes.
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—
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”.