,i  #aacth ,,congress  #b;d ,session    
,h4 ,r4 #ddff  ,,in ,,the ,,house ,,of  
,,representatives  ,april #aj1 #bjad    
,mrs4 ,capito 7for herself and ,mr4     
,meeks7 introduced the following bill2  
which was referred to the ,committee on 
,financial ,services1 and in addition to
 the ,committee on ,agriculture1 for a  
period to be subsequently determined by 
the ,speaker1 in each case for          
consideration of such provisions as fall
 within the jurisdiction of the         
committee concerned  ,a ,,bill  ,to     
require certain financial regulators to 
determine whether new regulations or    
orders are duplicative or inconsistent  
with existing ,federal regulations1 and 
for other purposes4  #a4 ,short title   
,this ,act may be cited as the          
,financial ,regulatory ,clarity ,act of 
#bjad4  #b4 ,federal ,deposit ,insurance
 ,corporation ,section #i of the        
,federal ,deposit ,insurance ,act 7#ab  
,u4,s4,c4 #ahai7 is amended by adding at
 the end the following3  7c7 ,review of 

regulations  7#a7 ,in general ,before   
issuing a regulation or order the       
,corporation shall assess other ,federal
 regulations and orders to determine the
 interaction between the proposed       
regulation or order and other ,federal  
regulations and orders4  7#b7           
,considerations ,in making a            
determination of the interaction between
 the proposed regulation or order and   
other ,federal regulations1 the         
,corporation shall evaluate the         
following3  7,a7 ,whether the proposed  
regulation or order is in conflict with 
other ,federal regulations or orders4   
7,b7 ,whether the proposed regulation or
 order is inconsistent with other       
,federal regulations or orders4  7,c7   
,whether the proposed regulation or     
order is duplicative of other ,federal  
regulations or orders4  7,d7 ,whether   
other ,federal regulations or orders are
 outdated4  7#c7 ,resolving duplicative 
or inconsistent regulations or orders   
,the ,corporation shall take all        

available measures under current law to 
resolve any duplicative or inconsistent 
existing regulation or order with any   
proposed regulation or order before     
issuing a final regulation or order4    
7#d7 ,report to ,congress ,not later    
than the end of the #fj-;day period     
beginning on the date the ,corporation  
makes a determination under paragraph   
7#b71 the ,corporation shall issue a    
report to the ,congress containing      
recommendations made by the             
,corporation1 including any             
recommendations of ,federal laws or     
regulations that should be repealed or  
amended1 so that the ,congress may      
repeal or amend any conflicting1        
inconsistent1 duplicative1 or outdated  
laws or regulations4  7#e7 ,limitation  
on judicial review ,notwithstanding any 
other provision of law1 a court may not 
compel action or hold unlawful and set  
aside any action solely on the basis of 
compliance or noncompliance with the    
requirements of this subsection4  7#f7  

,regulation and order defined ,for      
purposes of this subsection3  7,a7 ,in  
general ,the terms regulation and order 
shall have the meaning given those      
terms1 respectively1 by the             
,corporation1 and the term other        
,federal regulations and orders shall   
mean regulations and orders of the      
,federal financial regulators1 other    
than the ,corporation4  7,b7 ,federal   
financial regulators ,the term ,federal 
financial regulators means the ,board of
 ,governors of the ,federal ,reserve    
,system1 the ,bureau of ,consumer       
,financial ,protection1 the ,commodity  
,futures ,trading ,commission1 the      
,comptroller of the ,currency1 the      
,corporation1 the ,national ,credit     
,union ,administration1 and the         
,securities and ,exchange ,commission4  
4  #c4 ,office of ,comptroller of the   
,currency ,section #cbd of the ,revised 
,statutes of the ,united ,states 7#ab   
,u4,s4,c4 #a7 is amended by adding at   
the end the following3  7c7 ,review of  

regulations  7#a7 ,in general ,before   
issuing a regulation or order the       
,comptroller of the ,currency shall     
assess other ,federal regulations and   
orders to determine the interaction     
between the proposed regulation or order
 and other ,federal regulations and     
orders4  7#b7 ,considerations ,in making
 a determination of the interaction     
between the proposed regulation or order
 and other ,federal regulations1 the    
,comptroller shall evaluate the         
following3  7,a7 ,whether the proposed  
regulation or order is in conflict with 
other ,federal regulations or orders4   
7,b7 ,whether the proposed regulation or
 order is inconsistent with other       
,federal regulations or orders4  7,c7   
,whether the proposed regulation or     
order is duplicative of other ,federal  
regulations or orders4  7,d7 ,whether   
other ,federal regulations or orders are
 outdated4  7#c7 ,resolving duplicative 
or inconsistent regulations or orders   
,the ,comptroller shall take all        

available measures under current law to 
resolve any duplicative or inconsistent 
existing regulation or order with any   
proposed regulation or order before     
issuing a final regulation or order4    
7#d7 ,report to ,congress ,not later    
than the end of the #fj-;day period     
beginning on the date the ,comptroller  
makes a determination under paragraph   
7#b71 the ,comptroller shall issue a    
report to the ,congress containing      
recommendations made by the             
,comptroller1 including any             
recommendations of ,federal laws or     
regulations that should be repealed or  
amended1 so that the ,congress may      
repeal or amend any conflicting1        
inconsistent1 duplicative1 or outdated  
laws or regulations4  7#e7 ,limitation  
on judicial review ,notwithstanding any 
other provision of law1 a court may not 
compel action or hold unlawful and set  
aside any action solely on the basis of 
compliance or noncompliance with the    
requirements of this subsection4  7#f7  

,regulation and order defined ,for      
purposes of this subsection1 the terms  
regulation and order shall have the     
meaning given those terms1 respectively1
 by the ,comptroller1 and the term other
 ,federal regulations and orders shall  
mean regulations and orders of the      
,federal financial regulators 7as       
defined under section #i7;c77#f77;,b7 of
 the ,federal ,deposit ,insurance ,act71
 other than the ,comptroller4  4  #d4   
,board of ,governors of the ,federal    
,reserve ,system ,section #aj of the    
,federal ,reserve ,act is amended by    
inserting before paragraph 7#ab7 the    
following3  7#aa7 ,review of regulations
  7,a7 ,in general ,before issuing a    
regulation or order the ,board of       
,governors of the ,federal ,reserve     
,system shall assess other ,federal     
regulations and orders to determine the 
interaction between the proposed        
regulation or order and other ,federal  
regulations and orders4  7,b7           
,considerations ,in making a            

determination of the interaction between
 the proposed regulation or order and   
other ,federal regulations1 the ,board  
of ,governors shall evaluate the        
following3  7i7 ,whether the proposed   
regulation or order is in conflict with 
other ,federal regulations or orders4   
7ii7 ,whether the proposed regulation or
 order is inconsistent with other       
,federal regulations or orders4  7iii7  
,whether the proposed regulation or     
order is duplicative of other ,federal  
regulations or orders4  7iv7 ,whether   
other ,federal regulations or orders are
 outdated4  7,c7 ,resolving duplicative 
or inconsistent regulations or orders   
,the ,board of ,governors shall take all
 available measures under current law to
 resolve any duplicative or inconsistent
 existing regulation or order with any  
proposed regulation or order before     
issuing a final regulation or order4    
7,d7 ,report to ,congress ,not later    
than the end of the #fj-;day period     
beginning on the date the ,board of     

,governors makes a determination under  
subparagraph 7,b71 the ,board of        
,governors shall issue a report to the  
,congress containing recommendations    
made by the ,board of ,governors1       
including any recommendations of        
,federal laws or regulations that should
 be repealed or amended1 so that the    
,congress may repeal or amend any       
conflicting1 inconsistent1 duplicative1 
or outdated laws or regulations4  7,e7  
,limitation on judicial review          
,notwithstanding any other provision of 
law1 a court may not compel action or   
hold unlawful and set aside any action  
solely on the basis of compliance or    
noncompliance with the requirements of  
this paragraph4  7,f7 ,regulation and   
order defined ,for purposes of this     
paragraph1 the terms regulation and     
order shall have the meaning given those
 terms1 respectively1 by the ,board of  
,governors1 and the term other ,federal 
regulations and orders shall mean       
regulations and orders of the ,federal  

financial regulators 7as defined under  
section #i7;c77#f77;,b7 of the ,federal 
,deposit ,insurance ,act71 other than   
the ,board of ,governors4  4  #e4       
,bureau of ,consumer ,financial         
,protection ,section #ajbb of the       
,consumer ,financial ,protection ,act of
 #bjaj 7#ab ,u4,s4,c4 #eeab7 is amended 
by adding at the end the following3  7e7
 ,review of regulations  7#a7 ,in       
general ,before issuing a regulation or 
order the ,bureau shall assess other    
,federal regulations and orders to      
determine the interaction between the   
proposed regulation or order and other  
,federal regulations and orders4  7#b7  
,considerations ,in making a            
determination of the interaction between
 the proposed regulation or order and   
other ,federal regulations1 the ,bureau 
shall evaluate the following3  7,a7     
,whether the proposed regulation or     
order is in conflict with other ,federal
 regulations or orders4  7,b7 ,whether  
the proposed regulation or order is     

inconsistent with other ,federal        
regulations or orders4  7,c7 ,whether   
the proposed regulation or order is     
duplicative of other ,federal           
regulations or orders4  7,d7 ,whether   
other ,federal regulations or orders are
 outdated4  7#c7 ,resolving duplicative 
or inconsistent regulations or orders   
,the ,bureau shall take all available   
measures under current law to resolve   
any duplicative or inconsistent existing
 regulation or order with any proposed  
regulation or order before issuing a    
final regulation or order4  7#d7 ,report
 to ,congress ,not later than the end of
 the #fj-;day period beginning on the   
date the ,bureau makes a determination  
under paragraph 7#b71 the ,bureau shall 
issue a report to the ,congress         
containing recommendations made by the  
,bureau1 including any recommendations  
of ,federal laws or regulations that    
should be repealed or amended1 so that  
the ,congress may repeal or amend any   
conflicting1 inconsistent1 duplicative1 

or outdated laws or regulations4  7#e7  
,limitation on judicial review          
,notwithstanding any other provision of 
law1 a court may not compel action or   
hold unlawful and set aside any action  
solely on the basis of compliance or    
noncompliance with the requirements of  
this subsection4  7#f7 ,regulation and  
order defined ,for purposes of this     
subsection1 the terms regulation and    
order shall have the meaning given those
 terms1 respectively1 by the ,bureau1   
and the term other ,federal regulations 
and orders shall mean regulations and   
orders of the ,federal financial        
regulators 7as defined under section    
#i7;c77#f77;,b7 of the ,federal ,deposit
 ,insurance ,act71 other than the       
,bureau4  4  #f4 ,national ,credit      
,union ,administration ,section #ajb of 
the ,federal ,credit ,union ,act 7#ab   
,u4,s4,c4 #ageb;a7 is amended by adding 
at the end the following3  7g7 ,review  
of regulations  7#a7 ,in general ,before
 issuing a regulation or order the      

,administration shall assess other      
,federal regulations and orders to      
determine the interaction between the   
proposed regulation or order and other  
,federal regulations and orders4  7#b7  
,considerations ,in making a            
determination of the interaction between
 the proposed regulation or order and   
other ,federal regulations1 the         
,administration shall evaluate the      
following3  7,a7 ,whether the proposed  
regulation or order is in conflict with 
other ,federal regulations or orders4   
7,b7 ,whether the proposed regulation or
 order is inconsistent with other       
,federal regulations or orders4  7,c7   
,whether the proposed regulation or     
order is duplicative of other ,federal  
regulations or orders4  7,d7 ,whether   
other ,federal regulations or orders are
 outdated4  7#c7 ,resolving duplicative 
or inconsistent regulations or orders   
,the ,administration shall take all     
available measures under current law to 
resolve any duplicative or inconsistent 

existing regulation or order with any   
proposed regulation or order before     
issuing a final regulation or order4    
7#d7 ,report to ,congress ,not later    
than the end of the #fj-;day period     
beginning on the date the               
,administration makes a determination   
under paragraph 7#b71 the               
,administration shall issue a report to 
the ,congress containing recommendations
 made by the ,administration1 including 
any recommendations of ,federal laws or 
regulations that should be repealed or  
amended1 so that the ,congress may      
repeal or amend any conflicting1        
inconsistent1 duplicative1 or outdated  
laws or regulations4  7#e7 ,limitation  
on judicial review ,notwithstanding any 
other provision of law1 a court may not 
compel action or hold unlawful and set  
aside any action solely on the basis of 
compliance or noncompliance with the    
requirements of this subsection4  7#f7  
,regulation and order defined ,for      
purposes of this subsection1 the terms  

regulation and order shall have the     
meaning given those terms1 respectively1
 by the ,administration1 and the term   
other ,federal regulations and orders   
shall mean regulations and orders of the
 ,federal financial regulators 7as      
defined under section #i7;c77#f77;,b7 of
 the ,federal ,deposit ,insurance ,act71
 other than the ,administration4  4  #g4
 ,securities and ,exchange ,commission  
,section #d of the ,securities ,exchange
 ,act of #aicd 7#ae ,u4,s4,c4 #gh;d7 is 
amended by adding at the end the        
following3  7j7 ,review of regulations  
7#a7 ,in general ,before issuing a      
regulation or order the ,commission     
shall assess other ,federal regulations 
and orders to determine the interaction 
between the proposed regulation or order
 and other ,federal regulations and     
orders4  7#b7 ,considerations ,in making
 a determination of the interaction     
between the proposed regulation or order
 and other ,federal regulations1 the    
,commission shall evaluate the          

following3  7,a7 ,whether the proposed  
regulation or order is in conflict with 
other ,federal regulations or orders4   
7,b7 ,whether the proposed regulation or
 order is inconsistent with other       
,federal regulations or orders4  7,c7   
,whether the proposed regulation or     
order is duplicative of other ,federal  
regulations or orders4  7,d7 ,whether   
other ,federal regulations or orders are
 outdated4  7#c7 ,resolving duplicative 
or inconsistent regulations or orders   
,the ,commission shall take all         
available measures under current law to 
resolve any duplicative or inconsistent 
existing regulation or order with any   
proposed regulation or order before     
issuing a final regulation or order4    
7#d7 ,report to ,congress ,not later    
than the end of the #fj-;day period     
beginning on the date the ,commission   
makes a determination under paragraph   
7#b71 the ,commission shall issue a     
report to the ,congress containing      
recommendations made by the ,commission1

 including any recommendations of       
,federal laws or regulations that should
 be repealed or amended1 so that the    
,congress may repeal or amend any       
conflicting1 inconsistent1 duplicative1 
or outdated laws or regulations4  7#e7  
,limitation on judicial review          
,notwithstanding any other provision of 
law1 a court may not compel action or   
hold unlawful and set aside any action  
solely on the basis of compliance or    
noncompliance with the requirements of  
this subsection4  7#f7 ,regulation and  
order defined ,for purposes of this     
subsection1 the terms regulation and    
order shall have the meaning given those
 terms1 respectively1 by the            
,commission1 and the term other ,federal
 regulations and orders shall mean      
regulations and orders of the ,federal  
financial regulators 7as defined under  
section #i7;c77#f77;,b7 of the ,federal 
,deposit ,insurance ,act71 other than   
the ,commission4  4  #h4 ,commodity     
,futures ,trading ,commission ,section  

#b7;a7 of the ,commodity ,exchange ,act 
7#g ,u4,s4,c4 #b7;a77 is amended by     
adding at the end the following3  7#af7 
,review of regulations  7,a7 ,in general
 ,before issuing a regulation or order  
the ,commission shall assess other      
,federal regulations and orders to      
determine the interaction between the   
proposed regulation or order and other  
,federal regulations and orders4  7,b7  
,considerations ,in making a            
determination of the interaction between
 the proposed regulation or order and   
other ,federal regulations1 the         
,commission shall evaluate the          
following3  7i7 ,whether the proposed   
regulation or order is in conflict with 
other ,federal regulations or orders4   
7ii7 ,whether the proposed regulation or
 order is inconsistent with other       
,federal regulations or orders4  7iii7  
,whether the proposed regulation or     
order is duplicative of other ,federal  
regulations or orders4  7iv7 ,whether   
other ,federal regulations or orders are

 outdated4  7,c7 ,resolving duplicative 
or inconsistent regulations or orders   
,the ,commission shall take all         
available measures under current law to 
resolve any duplicative or inconsistent 
existing regulation or order with any   
proposed regulation or order before     
issuing a final regulation or order4    
7,d7 ,report to ,congress ,not later    
than the end of the #fj-;day period     
beginning on the date the ,commission   
makes a determination under subparagraph
 7,b71 the ,commission shall issue a    
report to the ,congress containing      
recommendations made by the ,commission1
 including any recommendations of       
,federal laws or regulations that should
 be repealed or amended1 so that the    
,congress may repeal or amend any       
conflicting1 inconsistent1 duplicative1 
or outdated laws or regulations4  7,e7  
,limitation on judicial review          
,notwithstanding any other provision of 
law1 a court may not compel action or   
hold unlawful and set aside any action  

solely on the basis of compliance or    
noncompliance with the requirements of  
this paragraph4  7,f7 ,regulation and   
order defined ,for purposes of this     
paragraph1 the terms regulation and     
order shall have the meaning given those
 terms1 respectively1 by the            
,commission1 and the term other ,federal
 regulations and orders shall mean      
regulations and orders of the ,federal  
financial regulators 7as defined under  
section #i7;c77#f77;,b7 of the ,federal 
,deposit ,insurance ,act71 other than   
the ,commission4  4  #i4 ,treatment of  
joint rulemakings ,in the case of a     
joint rulemaking with respect to which  
an assessment and determination is      
required pursuant to an amendment made  
under sections #b through #h of this    
,act1 the agencies shall jointly make   
such assessment and determination and   
shall submit a single report with       
respect to such determination4