,i  #aae? ,,congress  #a/ ,session  ,h4 
,r4 #abfd  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,febru>y #bh1         
#bjag,mr4 ,williams introduc$ ! foll[+  
bill2 :i* 0 ref]r$ to ! ,committee on   
,f9ancial ,s]vices  ,a ,,bill  ,to      
provide an exemption f rules &          
regulations ( ! ,bureau ( ,consum]      
,f9ancial protection = community        
f9ancial in/itutions1 & = o!r purposes4 
#a4 ,%ort title ,?is ,act may be cit$ z 
! ,community ,f9ancial ,in/itution      
,exemption ,act4  #b4 ,exemption =      
community f9ancial in/itutions ,section 
#ajbb7;b7 ( ! ,consum] ,f9ancial        
,protection ,act ( #bjaj 7#ab ,u4,s4,c4 
#eeab7;b77 is am5d$--  7#a7 9 p>agraph  
7#c71 by am5d+ ! head+ to read z foll[s3
 ,g5]al exemptions2  7#b7 by r$esignat+ 
p>agraph 7#d7 z p>agraph 7#e72 &  7#c7  
by ins]t+ aft] p>agraph 7#c7 ! foll[+3  
7#d7 ,specific exemption = community    
f9ancial in/itutions  7,a7 ,9 g5]al     
,community f9ancial in/itutions %all be 
exempt f all rules & regulations issu$  

by ! ,bureau4  7,b7 ,exception ,!       
,bureau may revoke an exemption provid$ 
"u subp>agraph 7,a7 ) respect to a      
specific rule or regulation & a specific
 class ( community f9ancial in/itutions 
if-- 7i7 ! ,bureau makes a detail$1     
writt5 f9d+ t su* class ( community     
f9ancial in/itutions has engag$ 9 a     
patt]n or practice ( activities t h be5 
detrim5tal to ! int]e/s ( consum]s & are
 ( a type t ! specific rule or          
regulation is int5d$ to address2  7ii7 !
 ,bureau consults ) ! ,f$]al bank+      
ag5cies ) respect to su* revocation2 &  
7iii7 ea* ,f$]al bank+ ag5cy provides ! 
,bureau ) a writt5 notice /at+ t !      
,f$]al bank+ ag5cy agrees ) su*         
revocation4  7,c7 ,effective date2      
effect on prior rules  7i7 ,effective   
date ,?is p>agraph %all take effect )   
respect to rules & regulations issu$ or 
modifi$ aft] ! date ( enactm5t ( ?is    
p>agraph4  7ii7 ,effect on prior rules  
,?is p>agraph %all n prohibit ! ,bureau 
f modify+ a rule or regulation issu$    

prior to ! date ( enactm5t ( ?is        
p>agraph ) respect to community f9ancial
 in/itutions if ! effect ( su*          
modification is to exp& a curr5t        
exemption or to r$uce ! co/s & !        
regulatory burd5 associat$ ) comply+ )  
su* rule or regulation4  7,d7           
,def9itions ,= purposes ( ?is p>agraph3 
7i7 ,community f9ancial in/itution ,!   
t]m community f9ancial in/itution means 
an insur$ depository in/itution or cr$it
 union ) less ?an #ej1jjj1jjj1jjj 9     
consolidat$ assets4  7ii7 ,f$]al bank+  
ag5cy ,! t]m ,f$]al bank+ ag5cy means ! 
,bo>d ( ,gov]nors1 ! ,(fice ( !         
,comptroll] ( ! ,curr5cy1 !             
,corporation1 & ! ,national ,cr$it      
,union ,adm9i/ration4  4