3.0.0 3890 2023-01-11T13:29:28Z 2023-01-11T13:29:28Z House HR 2015-11-03 114 [Congressional Record Volume 161, Number 163 (Tuesday, November 3, 2015)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. CLAWSON of Florida:H.R. 3890.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clause 3[Page H7624]]]> hsba00 Financial Services Committee House Standing Referred to 2015-11-03T15:00:23Z 2015-11-03 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2015-11-03 Introduced in House IntroReferral Intro-H 9 Library of Congress 2015-11-03 Introduced in House IntroReferral 1000 9 Library of Congress C001102 Rep. Clawson, Curt [R-FL-19] Curt Clawson R FL 19 N Finance and Financial Sector Banking and financial institutions regulation Financial crises and stabilization Housing finance and home ownership Finance and Financial Sector 00 2015-11-03 Introduced in House 2016-03-25T21:27:32Z 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.
]]> FILES Act of 2015 Display Title FILES Act of 2015 Official Title as Introduced To exempt safe and sound depository institutions, credit unions, and depository institution holding companies from certain titles of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and for other purposes. Introduced in House IH Short Titles as Introduced FILES Act of 2015 Short Titles as Introduced Financial Institution Legislative Edict Simplification Act of 2015 Introduced in House 2015-11-03T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114hr3890ih/xml/BILLS-114hr3890ih.xml 2015-11-03 Referred to the House Committee on Financial Services. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.