,i  #aad? ,,congress  #b;d ,session  ,h4
 ,r4 #ehjh  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,july #ad1 #bjaf,mr4  
,duffy 7= himself1 ,mr4 ,neugebau]1 ,mr4
 ,tipton1 ,mr4 ,luetkemey]1 & ,mr4 ,hurt
 ( ,virg9ia7 introduc$ ! foll[+ bill2   
:i* 0 ref]r$ to ! ,committee on         
,f9ancial ,s]vices  ,a ,,bill  ,to am5d 
! ,economic ,gr[? & ,regulatory         
,pap]work ,r$uction ,act ( #aiif to     
ensure t ,f$]al f9ancial regulators p]=m
 a compreh5sive review ( regulations to 
id5tify outdat$ or o!rwise unnecess>y   
regulatory requirem5ts impos$ on cov]$  
p]sons1 & = o!r purposes4  #a4 ,%ort    
title ,?is ,act may be cit$ z !         
,compreh5sive ,regulatory ,review ,act (
 #bjaf4  #b4 ,am5dm5ts to ,def9itions ( 
! ,economic ,gr[? & ,regulatory ,pap]   
,r$uction ,act ,section #bjja7;c7 ( !   
,economic ,gr[? & ,regulatory ,pap]work 
,r$uction ,act ( #aiif 7#ab ,u4,s4,c4   
#beb note7 is am5d$ by add+ at ! end !  
foll[+ new p>agraphs3  7#h7 ,cov]$ p]son
 ,! t]m cov]$ p]son has ! mean+ giv5 su*

 t]m 9 section #ajjb ( ! ,consum]       
,f9ancial ,protection ,act ( #bjaj 7#ab 
,u4,s4,c4 #edha74  7#i7 ,f$]al f9ancial 
regulator ,! t]m ,f$]al f9ancial        
regulator means ! ,(fice ( ! ,comptroll]
 ( ! ,curr5cy1 ! ,f$]al ,deposit        
,insurance ,corporation1 ! ,bo>d (      
,gov]nors ( ! ,f$]al ,res]ve ,sy/em1 !  
,bureau ( ,consum] ,f9ancial            
,protection1 & ! ,national ,cr$it ,union
 ,adm9i/ration ,bo>d4  4  #c4 ,ensur+ a 
compreh5sive regulatory review  7a7 ,9  
,g5]al ,section #bbbb ( ! ,economic     
,gr[? & ,regulatory ,pap]work ,r$uction 
,act ( #aiif 7#ab ,u4,s4,c4 #ccaa7 is   
am5d$--  7#a7 9 subsection 7a7-- 7,a7 by
 /rik+ #aj ye>s & ins]t+ #e ye>s2  7,b7 
by /rik+ ea* appropriate & all t foll[s 
?r\gh review & ins]t+ ! ,f$]al f9ancial 
regulator %all ea* conduct a            
compreh5sive review2  7,c7 by /rik+ any 
su* appropriate ,f$]al bank+ ag5cy &    
ins]t+ su* ,f$]al f9ancial regulator1   
jo9tly or o!rwise1 & includ+ all        
regulations issu$ aft] ,decemb] #ca/1   

#bjjf2 &  7,d7 by /rik+ insur$          
depository in/itutions & ins]t+ cov]$   
p]sons4  7b7 ,con=m+ ,am5dm5ts ,su*     
section is am5d$--  7#a7 9 subsections  
7b71 7c71 7d71 & 7e71 by /rik+ !        
appropriate ,f$]al bank+ ag5cy ea* place
 t t]m appe>s & ins]t+ ! appropriate    
,f$]al f9ancial regulator2 &  7#b7 9    
subsection 7e77#a71 by /rik+ !          
appropriate ,f$]al bank+ ag5cies &      
ins]t+ ! appropriate ,f$]al f9ancial    
regulator4  #d4 ,consid]ations =        
compreh5sive regulatory review ,section 
#bbbb ( ! ,economic ,gr[? & ,regulatory 
,pap]work ,r$uction ,act ( #aiif 7#ab   
,u4,s4,c4 #ccaa71 z am5d$ by section #c1
 is fur!r am5d$--  7#a7 9 subsection    
7b7-- 7,a7 9 p>agraph 7#a71 by /rik+ &  
at ! end2  7,b7 by r$esignat+ p>agraph  
7#b7 z p>agraph 7#e72 &  7,c7 by ins]t+ 
aft] p>agraph 7#a7 ! foll[+ new         
p>agraphs3  7#b7 consid] ! impact ( !   
regulations on ! f9ancial safety &      
s\ndness ( cov]$ p]sons2  7#c7 consid] !
 impact ( ! regulations on ! risk pr(ile

 & bus9ess models ( cov]$ p]sons subject
 to ! regulatory action2  7#d7 det]m9e !
 necessity1 appropriat5ess1 & impact (  
cont9u+ to apply su* regulatory action  
to su* cov]$ p]sons2 &  2  7#b7 9       
subsection 7c71 by /rik+ #aj ye>s &     
ins]t+ #e ye>s2 &  7#c7 9 subsection    
7d71 by am5d+ p>agraph 7#b7 to read z   
foll[s3  7#b7 elim9ate or tailor        
unnecess>y regulations relat$ to cov]$  
p]sons 9 a mann] t limits ! regulatory  
compliance impact1 co/1 liability risk1 
& o!r burd5s1 z is appropriate4  4