H.R. 6398 · 118th Congress
Financial Institution Regulatory Tailoring Enhancement Act
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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
BarrSponsor1 cosponsor · 1 R
0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill increases several different asset levels which determine the applicability of specific regulations to financial institutions.
What it does: CRS summary · Introduced in House · Nov 14, 2023
Financial Institution Regulatory Tailoring Enhancement Act
This bill increases several different asset levels which determine the applicability of specific regulations to financial institutions.
The bill raises the asset level above which insured depository institutions and credit unions become subject to supervision by the Consumer Financial Protection Bureau for purposes of compliance with consumer financial laws and for risk assessments of products and services.
The bill also raises the asset level below which debit card issuers are exempt from interchange transaction fee regulations.
The bill raises the asset level above which banks must comply with the Volcker Rule, which prohibits banks from proprietary trading and having an ownership interest in private funds.
The bill raises the asset level below which financial institutions must comply with less prescriptive ability-to-repay determinations for residential mortgages.
Finally, the bill raises the asset level below which certain depository institutions and depository institution holding companies qualify as community banks and are therefore subject to a simplified leverage ratio.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Financial Institution Regulatory Tailoring Enhancement Act
Latest action (Nov 14, 2023): Referred to the House Committee on Financial Services.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Nov 14, 2023
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.