,i  #aai? ,,congress  #a/ ,session  ,h4 
,r4 #ddcg  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,july #af1 #bjbe,mr4  
,timmons 7= himself & ,mr4 ,fo/]7       
introduc$ ! foll[+ bill2 :i* 0 ref]r$ to
 ! ,committee on ,f9ancial ,s]vices  ,a 
,,bill  ,to r$uce ! regulatory burd5 on 
c]ta9 well manag$ & well capitaliz$     
f9ancial in/itutions1 & = o!r purposes4 
#a4 ,%ort title ,?is ,act may be cit$ z 
! ,sup]visory ,modifications =          
,appropriate ,risk-bas$ ,te/+ ,act (    
#bjbe or ! ,,sm>t ,act ( #bjbe4  #b4    
,exam9ation relief = c]ta9 well manag$ &
 well capitaliz$ f9ancial in/itutions   
7a7 ,insur$ depository in/itutions      
,section #aj7;d7 ( ! ,f$]al ,deposit    
,insurance ,act 7#ab ,u4,s4,c4          
#ahbj7;d77 is am5d$ by add+ at ! end !  
foll[+3  7#aa7 ,exam9ation relief =     
c]ta9 well manag$ & well capitaliz$     
insur$ depository in/itutions  7,a7 ,9  
g5]al ,! foll[+ %all apply to a well    
manag$ & well capitaliz$ insur$         
depository in/itution ) #f1jjj1jjj1jjj  

or less 9 consolidat$ assets3 7i7       
,alt]nat+ limit$-scope exam9ations ,aft]
 an insur$ depository in/itution        
receives a full-scope1 on-site          
exam9ation f ! appropriate ,f$]al bank+ 
ag5cy1 ! next exam9ation ( ! insur$     
depository in/itution by ! appropriate  
,f$]al bank+ ag5cy %all be a            
limit$-scope exam9ation1 z det]m9$ by ! 
appropriate ,f$]al bank+ ag5cy4  7ii7   
,comb9$ exam9ations ,if an insur$       
depository in/itution is o!rwise subject
 to sep>ate safety & s\ndness           
exam9ations1 consum] compliance         
exam9ations1 & in=mation te*nology &    
cyb]security exam9ations1 ! appropriate 
,f$]al bank+ ag5cy %all1 ^u reque/ ( !  
insur$ depository in/itution1 comb9e two
 or ?ree su* exam9ations1 z specifi$ by 
! insur$ depository in/itution1 & c>ry  
!m out at ! same "t4  7,b7 ,exception   
,subp>agraph 7,a7 %all n apply to an    
insur$ depository in/itution if-- 7i7 ! 
insur$ depository in/itution is curr5tly
 subject to a =mal en=cem5t proce$+ or  

ord] by ! ,corporation or ! appropriate 
,f$]al bank+ ag5cy2 or  7ii7 a p]son    
acquir$ control ( ! insur$ depository   
in/itution s9ce ! mo/ rec5t full-scope1 
on-site exam9ation ( ! insur$ depository
 in/itution f ! appropriate ,f$]al bank+
 ag5cy4  7,c7 ,rulemak+ ,n lat] ?an #ab 
mon?s aft] ! date ( enactm5t ( ?is      
p>agraph1 ! ,f$]al bank+ ag5cies %all   
issue rules to c>ry out subp>agraph     
7,a71 includ+1 ) respect to an insur$   
depository in/itution describ$ "u       
subp>agraph 7,a71 to-- 7i7 e/abli%      
proc$ures = ! limit$-scope exam9ations  
describ$ 9 subp>agraph 7,a77i72  7ii7   
e/abli% proc$ures = review+ insur$      
depository in/itutions t-- 7,i7 exp]i5ce
 mat]ial *anges 9 f9ancial condition or 
op]ational risk pr(ile betwe5 s*$ul$    
exam9ations2 or  7,,ii7 h fail$ to      
comply ) ,f$]al or ,/ate bank+ laws &   
regulations2 &  7iii7 balance ! goals ( 
/reaml9+ ! exam9ation cycle = individual
 insur$ depository in/itutions & r$uc+  
unnecess>y regulatory burd5s :ile       

ma9ta9+ suffici5t ov]sight to ensure !  
cont9u$ safety & s\ndness ( ! insur$    
depository in/itutions & compliance )   
all applicable laws & regulations4  7,d7
 ,rule ( con/ruction ,no?+ 9 ?is        
p>agraph may be con/ru$ to limit !      
au?ority ( a ,f$]al bank+ ag5cy to      
conduct (f-site monitor+1 t>get$        
reviews1 or additional full-scope1      
on-site exam9ations ( an insur$         
depository in/itution if ! ,f$]al bank+ 
ag5cy det]m9es su* monitor+1 reviews1 or
 exam9ations are necess>y to ensure     
safety & s\ndness or compliance )       
applicable laws4  7,e7 ,def9itions ,9   
?is p>agraph3 7i7 ,consum] compliance   
exam9ation ,! t]m consum] compliance    
exam9ation means an exam9ation to assess
 compliance ) ! requirem5ts ( ,f$]al    
consum] f9ancial law 7z su* t]m is def9$
 9 section #ajjb ( ! ,consum] ,f9ancial 
,protection ,act ( #bjaj74  7ii7 ,well  
capitaliz$ ,! t]m well capitaliz$ has ! 
mean+ giv5 t t]m 9 section #ch7;b74     
7iii7 ,well manag$ ,) respect to an     

insur$ depository in/itution1 ! t]m well
 manag$ means t1 :5 ! in/itution 0 mo/  
rec5tly exam9$ by ! appropriate ,f$]al  
bank+ ag5cy1 ! in/itution 0 f\nd to be  
well manag$1 & ! in/itution's composite 
condition 0 f\nd to be satisfactory or  
out/&+4  4  7b7 ,insur$ cr$it unions    
,section #bjd ( ! ,f$]al ,cr$it ,union  
,act 7#ab ,u4,s4,c4 #aghd7 is am5d$ by  
add+ at ! end ! foll[+3  7h7 ,exam9ation
 relief = c]ta9 well manag$ & well      
capitaliz$ insur$ cr$it unions  7#a7 ,9 
g5]al ,! foll[+ %all apply to a well    
manag$ & well capitaliz$ insur$ cr$it   
union ) #f1jjj1jjj1jjj or less 9        
consolidat$ assets3 7,a7 ,alt]nat+      
limit$-scope exam9ations ,aft] an insur$
 cr$it union receives a full-scope1     
on-site exam9ation f ! ,national ,cr$it 
,union ,adm9i/ration1 ! next exam9ation 
( ! insur$ cr$it union by ! ,national   
,cr$it ,union ,adm9i/ration %all be a   
limit$-scope exam9ation1 z det]m9$ by ! 
,national ,cr$it ,union ,adm9i/ration4  
7,b7 ,comb9$ exam9ations ,if an insur$  

cr$it union is o!rwise subject to       
sep>ate safety & s\ndness exam9ations1  
consum] compliance exam9ations1 &       
in=mation te*nology & cyb]security      
exam9ations1 ! ,national ,cr$it ,union  
,adm9i/ration %all1 ^u reque/ ( ! insur$
 cr$it union1 comb9e two or ?ree su*    
exam9ations1 z specifi$ by ! insur$     
cr$it union1 & c>ry !m out at ! same "t4
  7#b7 ,exception ,p>agraph 7#a7 %all n 
apply to an insur$ cr$it union if !     
insur$ cr$it union is curr5tly subject  
to a =mal en=cem5t proce$+ or ord] by ! 
,national ,cr$it ,union ,adm9i/ration4  
7#c7 ,rulemak+ ,n lat] ?an #ab mon?s    
aft] ! date ( enactm5t ( ?is subsection1
 ! ,national ,cr$it ,union ,adm9i/ration
 %all issue rules to c>ry out p>agraph  
7#a71 includ+1 ) respect to an insur$   
cr$it union describ$ "u p>agraph 7#a71  
to-- 7,a7 e/abli% proc$ures = !         
limit$-scope exam9ations describ$ 9     
p>agraph 7#a77;,a72  7,b7 e/abli%       
proc$ures = review+ insur$ cr$it unions 
t-- 7i7 exp]i5ce mat]ial *anges 9       

f9ancial condition or op]ational risk   
pr(ile betwe5 s*$ul$ exam9ations2 or    
7ii7 h fail$ to comply ) ,f$]al or ,/ate
 bank+ laws & regulations2 &  7,c7      
balance ! goals ( /reaml9+ ! exam9ation 
cycle = individual insur$ cr$it unions &
 r$uc+ unnecess>y regulatory burd5s :ile
 ma9ta9+ suffici5t ov]sight to ensure ! 
cont9u$ safety & s\ndness ( ! insur$    
cr$it unions & compliance ) all         
applicable laws & regulations4  7#d7    
,rule ( con/ruction ,no?+ 9 ?is         
subsection may be con/ru$ to limit !    
au?ority ( ! ,national ,cr$it ,union    
,adm9i/ration to conduct (f-site        
monitor+1 t>get$ reviews1 or additional 
full-scope1 on-site exam9ations ( an    
insur$ cr$it union if ! ,national ,cr$it
 ,union ,adm9i/ration det]m9es su*      
monitor+1 reviews1 or exam9ations are   
necess>y to ensure safety & s\ndness or 
compliance ) applicable laws4  7#e7     
,def9itions ,9 ?is p>agraph3 7,a7       
,consum] compliance exam9ation ,! t]m   
consum] compliance exam9ation means an  

exam9ation to assess compliance ) !     
requirem5ts ( ,f$]al consum] f9ancial   
law 7z su* t]m is def9$ 9 section #ajjb 
( ! ,consum] ,f9ancial ,protection ,act 
( #bjaj74  7,b7 ,well capitaliz$ ,! t]m 
well capitaliz$ has ! mean+ giv5 t t]m 9
 section #baf7;c74  7,c7 ,well manag$ ,)
 respect to an insur$ cr$it union1 ! t]m
 well manag$ means t1 :5 ! cr$it union 0
 mo/ rec5tly exam9$ by ! ,national      
,cr$it ,union ,adm9i/ration1 ! cr$it    
union 0 f\nd to be well manag$1 & !     
cr$it union's composite condition 0 f\nd
 to be satisfactory or out/&+4  4