H.R. 3890 · 114th Congress
FILES Act of 2015
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Never voted on. It didn't reach a floor vote before the 114th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
ClawsonSponsorNo cosponsors.
Financial Institution Legislative Edict Simplification Act of 2015 or the FILES Act of 2015
What it does: CRS summary · Introduced in House · Nov 3, 2015
Financial Institution Legislative Edict Simplification Act of 2015 or the FILES Act of 2015
This bill amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to exempt from specified titles of the Act "safe and sound financial institutions," including any depository institution, credit union, bank holding company, or savings and loan holding company having:
- total consolidated assets of less than $50 billion, and
- a composite CAMELS rating of 1 or 2 under the Uniform Financial Institutions Rating System (or under an equivalent rating under a comparable rating system) as of the entity's most recent examination.
A CAMELS rating assesses a bank's capital adequacy, assets, management capability, earnings, liquidity, and sensitivity.
The bill exempts such institutions from the titles of the Act that address:
- financial stability;
- orderly liquidation authority;
- improvements to regulation of bank and savings association holding companies and depository institutions; and
- mortgage reform and anti-predatory lending.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: FILES Act of 2015
Also known as: Financial Institution Legislative Edict Simplification Act of 2015
Latest action (Nov 3, 2015): Referred to the House Committee on Financial Services.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Nov 3, 2015
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.