,,ib ,union ,calendar ,no4 #deb #aaith  
,,congress  #b;d ,session  ,h4 ,r4 #fedd
 ,report ,no4 #aai-ebg ,,in ,,the       
,,house ,,of ,,representatives          
,december #i1 #bjbe,mr4 ,timmons        
introduced the following bill2 which was
 referred to the ,committee on          
,financial ,services  ,february #be1    
#bjbf,reported with an amendment1       
committed to the ,committee of the      
,whole ,house on the ,state of the      
,union1 and ordered to be printed,strike
 out all after the enacting clause and  
insert the part printed in italic,for   
text of introduced bill1 see copy of    
bill as introduced on ,december #i1     
#bjbe  ,a ,,bill  ,to require the       
,federal financial institutions         
regulatory agencies to review the       
cumulative impact of regulations issued 
by such agencies1 and for other         
purposes4  #a4 ,short title ,this ,act  
may be cited as the ,regulatory         
,efficiency1 ,verification1             
,itemization1 and ,enhanced ,workflow   

,act of #bjbe or the ,,review ,act of   
#bjbe4  #b4 ,review of regulations      
,section #bbbb of the ,economic ,growth 
and ,regulatory ,paperwork ,reduction   
,act of #aiif 7#ab ,u4,s4,c4 #ccaa7 is  
amended-- 7#a7 by striking appropriate  
,federal banking agency each place such 
term appears and inserting ,federal     
financial institutions regulatory       
agency2  7#b7 in subsection 7a7-- 7,a7  
by striking represented on the ,council2
 and  7,b7 by striking once every #aj   
years and inserting once every #g years2
  7#c7 in subsection 7b7-- 7,a7 by      
redesignating paragraphs 7#a7 and 7#b7  
as subparagraphs 7,a7 and 7,b71         
respectively 7and adjusting the margins 
accordingly72  7,b7 by striking ,in     
conducting and inserting the following3 
7#a7 ,solicitation of public comment ,in
 conducting  2 and  7,c7 by adding at   
the end the following3  7#b7 ,internal  
review of cumulative impact ,each       
,federal financial institutions         
regulatory agency shall conduct an      

internal review of the cumulative impact
 of regulations issued by the ,federal  
financial institutions regulatory agency
 that-- 7,a7 assesses the effects of    
such regulations on consumers' access to
 financial products and services2  7,b7 
assesses the effects of such regulations
 on the availability of financial       
products and services to financial and  
nonfinancial firms2  7,c7 assesses the  
impact of such regulations on credit    
availability and financial market       
liquidity in ,united ,states financial  
markets2  7,d7 assesses the balance of  
benefits and costs of such regulations  
with respect to the safety and soundness
 of the ,united ,states financial system
 and overall economic activity in the   
,united ,states2  7,e7 to the extent    
practicable1 quantifies the direct and  
indirect economic costs imposed by such 
regulations2 and  7,f7 includes         
recommendations to streamline1 simplify1
 or eliminate duplicative1 outdated1 and
 unnecessarily burdensome regulations4  

2  7#d7 in subsection 7c7-- 7,a7 by     
striking subsection 7b77#b7 and         
inserting subsection 7b77#a77;,b71 and  
the internal review under subsection    
7b77#b712 and  7,b7 by striking once    
every #aj years and inserting once every
 #g years2  7#e7 in subsection 7e7--    
7,a7 in paragraph 7#a7-- 7i7 by striking
 appropriate ,federal banking agencies  
and inserting ,federal financial        
institutions regulatory agencies2 and   
7ii7 by striking and at the end2  7,b7  
by redesignating paragraph 7#b7 as      
paragraph 7#c72  7,c7 by inserting after
 paragraph 7#a7 the following3  7#b7 a  
summary of the findings and             
determinations of each ,federal         
financial institutions regulatory agency
 of the internal review conducted by the
 ,federal financial institutions        
regulatory agency under subsection      
7b77#b72 and  2 and  7,d7 in paragraph  
7#c71 as so redesignated1 by striking   
the regulatory burdens associated with  
such issues by regulation and inserting 

the regulatory burdens associated with  
the issues identified by public comments
 received by the ,council and the       
,federal financial institutions         
regulatory agencies1 as well as the     
regulatory burdens identified by each   
,federal financial institutions         
regulatory agency through the internal  
reviews conducted under subsection      
7b77#b71 by regulation2 and  7#f7 by    
adding at the end the following3  7f7   
,federal financial institutions         
regulatory agency defined ,the term     
,federal financial institutions         
regulatory agency has the meaning given 
that term in section #ajjc of the       
,federal ,financial ,institutions       
,examination ,council ,act of #aigh 7#ab
 ,u4,s4,c4 #ccjb74  4  ,february #be1   
#bjbf,reported with an amendment1       
committed to the ,committee of the      
,whole ,house on the ,state of the      
,union1 and ordered to be printed