[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4788 Introduced in House (IH)]

113th CONGRESS
  2d Session
                                H. R. 4788

To provide regulatory relief for mid-sized financial institutions, and 
                          for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 30, 2014

  Mr. Duffy introduced the following bill; which was referred to the 
 Committee on Financial Services, and in addition to the Committee on 
Agriculture, for a period to be subsequently determined by the Speaker, 
 in each case for consideration of such provisions as fall within the 
                jurisdiction of the committee concerned

_______________________________________________________________________

                                 A BILL


 
To provide regulatory relief for mid-sized financial institutions, and 
                          for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Relief for America's Main Street 
Lenders Act''.

SEC. 2. AMENDMENTS TO THE COMMODITY EXCHANGE ACT AND THE SECURITIES 
              EXCHANGE ACT OF 1934.

    (a) Definition of Financial Entity.--Section 2(h)(7)(C)(ii) of the 
Commodity Exchange Act (7 U.S.C. 2(h)(7)(C)(ii)) is amended--
            (1) by striking ``The Commission shall consider whether to 
        exempt small banks, savings associations, farm credit system 
        institutions, and credit unions, including--'' and inserting 
        ``For purposes of this paragraph and solely with respect to an 
        interest rate swap, the term `financial entity' shall not 
        include--''; and
            (2) in subclauses (I) and (III), by striking 
        ``$10,000,000,000'' each place such term appears and inserting 
        ``$50,000,000,000''.
    (b) Definition of Financial Entity.--Section 3C(g)(3)(B) of the 
Securities Exchange Act of 1934 (15 U.S.C. 78c-3(g)(3)(B)) is amended--
            (1) by striking ``The Commission shall consider whether to 
        exempt small banks, savings associations, farm credit system 
        institutions, and credit unions, including--'' and inserting 
        ``For purposes of this subsection and solely with respect to an 
        interest rate security-based swap, the term `financial entity' 
        shall not include--''; and
            (2) in clauses (i) and (iii) by striking ``$10,000,000,000 
        or less'' each place such term appears and inserting 
        ``$50,000,000,000 or less''.

SEC. 3. AMENDMENTS TO THE ELECTRONIC FUND TRANSFER ACT.

    Section 920(g)(3) of the Electronic Fund Transfer Act (15 U.S.C. 
1693o-1(g)(3)) is amended by inserting after the first instance of 
``financial institution'' the following: ``except for an insured 
depository institution or credit union with total assets of 
$50,000,000,000 or less,''.

SEC. 4. AMENDMENTS TO THE DODD-FRANK WALL STREET REFORM AND CONSUMER 
              PROTECTION ACT.

    Section 165(i)(2)(C)(iv) of the Dodd-Frank Wall Street Reform and 
Consumer Protection Act (12 U.S.C. 5365(i)(2)(C)(iv)) is amended by 
inserting after ``subject to this paragraph'' the following: ``with 
total assets of $50,000,000,000 or more''.
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