#aaeth ,,congress  #b;d ,session  ,h4   
,r4 #dfjg  ,,an ,,act  ,to amend the    
,economic ,growth and ,regulatory       
,paperwork ,reduction ,act of #aiif to  
ensure that ,federal financial          
regulators perform a comprehensive      
review of regulations to identify       
outdated or otherwise unnecessary       
regulatory requirements imposed on      
covered persons1 and for other purposes4
  #a4 ,short title ,this ,act may be    
cited as the ,comprehensive ,regulatory 
,review ,act4  #b4 ,amendments to       
definitions of the ,economic ,growth and
 ,regulatory ,paperwork ,reduction ,act 
,section #bjja7;c7 of the ,economic     
,growth and ,regulatory ,paperwork      
,reduction ,act of #aiif 7#ab ,u4,s4,c4 
#beb note7 is amended by adding at the  
end the following new paragraphs3  7#h7 
,covered person ,the term covered person
 has the meaning given such term in     
section #ajjb of the ,consumer          
,financial ,protection ,act of #bjaj    
7#ab ,u4,s4,c4 #edha74  7#i7 ,federal   

financial regulator ,the term ,federal  
financial regulator means the ,office of
 the ,comptroller of the ,currency1 the 
,federal ,deposit ,insurance            
,corporation1 the ,board of ,governors  
of the ,federal ,reserve ,system1 the   
,bureau of ,consumer ,financial         
,protection1 and the ,national ,credit  
,union ,administration ,board4  4  #c4  
,ensuring a comprehensive regulatory    
review  7a7 ,in ,general ,subsection 7a7
 of section #bbbb of the ,economic      
,growth and ,regulatory ,paperwork      
,reduction ,act of #aiif 7#ab ,u4,s4,c4 
#ccaa7;a77 is amended-- 7#a7 by striking
 #aj years and inserting #g years2  7#b7
 by striking each appropriate and all   
that follows through review and         
inserting the ,federal financial        
regulators shall each conduct a         
comprehensive review2  7#c7 by striking 
such appropriate ,federal banking agency
 and inserting such ,federal financial  
regulator1 jointly or otherwise12 and   
7#d7 by inserting or covered persons    

after insured depository institutions4  
7b7 ,conforming ,amendments ,such       
section is amended--  7#a7 in           
subsections 7b71 7c71 7d71 and 7e71 by  
striking the appropriate ,federal       
banking agency each place that term     
appears and inserting the appropriate   
,federal financial regulator2 and  7#b7 
in subsection 7e77#a71 by striking the  
appropriate ,federal banking agencies   
and inserting the appropriate ,federal  
financial regulator4  #d4               
,considerations for comprehensive       
regulatory review ,section #bbbb of the 
,economic ,growth and ,regulatory       
,paperwork ,reduction ,act of #aiif 7#ab
 ,u4,s4,c4 #ccaa71 as amended by section
 #c1 is further amended-- 7#a7 in       
subsection 7c71 by striking #aj years   
and inserting #g years2 and  7#b7 in    
subsection 7d7-- 7,a7 in paragraph 7#a71
 by striking and at the end2  7,b7 in   
paragraph 7#b71 by striking the period  
at the end and inserting 2 and2 and     
7,c7 by adding at the end the following 

new paragraph3  7#c7 tailor other       
regulations related to covered persons  
in a manner that limits the regulatory  
compliance impact1 cost1 liability risk1
 and other burdens1 unless otherwise    
determined by the ,council or the       
appropriate ,federal financial          
regulator4  4  #e4 ,reviews conducted by
 the ,bureau ,section #bbbb of the      
,economic ,growth and ,regulatory       
,paperwork ,reduction ,act of #aiif 7#ab
 ,u4,s4,c4 #ccaa71 as amended by section
 #d1 is further amended by adding at the
 end the following new subsection3  7f7 
,reviews conducted by the ,bureau ,the  
,bureau of ,consumer ,financial         
,protection shall-- 7#a7 use any        
relevant information from an assessment 
conducted under section #ajbb7;d7 of the
 ,consumer ,financial ,protection ,act  
of #bjaj 7#ab ,u4,s4,c4 #eeab7;d77 in   
conducting the review required under    
subsection 7a72 and  7#b7 conduct such  
review in accordance with the purposes  
and objectives described in subsections 

7a7 and 7b7 of section #ajba of such    
,act 7#ab ,u4,s4,c4 #eeaa74  4  #f4     
,reduction of surplus funds of ,federal 
reserve banks  7a7 ,in general ,section 
#g7;a77#c77;,a7 of the ,federal ,reserve
 ,act 7#ab ,u4,s4,c4 #bhi7;a77#c77;,a77 
is amended by striking #g1ejj1jjj1jjj   
and inserting #g1die1gad1bhe4  7b7      
,effective date ,subsection 7a7 shall   
take effect on ,may #a1 #bjah4  ,passed 
the ,house of ,representatives ,march   
#f1 #bjah4;,clerk4