I 111th CONGRESS 1st Session H. R. 2266 IN THE HOUSE OF REPRESENTATIVES May 6, 2009 Mr. Frank of Massachusetts introduced the following bill; which was referred to the Committee on Financial Services A BILL To delay for 1 year the date for compliance with certain regulations prescribed by the Secretary of the Treasury and the Board of Governors of the Federal Reserve System under subchapter IV of chapter 53 of title 31, United States Code.

1.

Short title

This Act may be cited as the Reasonable Prudence in Regulation Act.

2.

Delay in application of regulation

Notwithstanding any provision of part 233 of title 12, Code of Federal Regulations (also known as Regulation GG) or of part 132 of title 31, Code of Federal Regulations, jointly prescribed by the Board of Governors of the Federal Reserve System and the Secretary of the Treasury, respectively (to implement subchapter IV of chapter 53 of title 31, United States Code), the date by which compliance with such regulations is required shall be extended from December 1, 2009, to December 1, 2010.