S. 923 — Introduced in Senate

II 115th CONGRESS 1st Session S. 923 IN THE SENATE OF THE UNITED STATES April 24, 2017 Mr. Kennedy introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs A BILL To exempt certain financial institutions from regulations issued under the Dodd-Frank Wall Street Reform and Consumer Protection Act. 1. Short title This Act may be cited as the Reforming Finance for Local Economies Act. 2. Exemption from regulations (a) Definition In this section, the term financial institution means a bank, a credit union, or a savings association, as those terms are defined in section 2 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (12 U.S.C. 5301), that has not more than $10,000,000,000 in total consolidated assets. (b) Exemption No regulation issued under the Dodd-Frank Wall Street Reform and Consumer Protection Act (12 U.S.C. 5301 et seq.) or any amendment made by that Act shall apply to a financial institution.