[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[S. 927 Introduced in Senate (IS)]

114th CONGRESS
  1st Session
                                 S. 927

 To provide regulatory relief for certain financial institutions, and 
                          for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             April 14, 2015

 Mr. Moran (for himself and Mr. Tester) introduced the following bill; 
which was read twice and referred to the Committee on Banking, Housing, 
                           and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
 To provide regulatory relief for certain 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 ``CLEAR Plus Act of 2015''.

SEC. 2. SHAREHOLDER THRESHOLD TREATMENT OF SAVINGS AND LOAN HOLDING 
              COMPANIES.

    (a) Amendments to Section 12 of the Securities Exchange Act of 
1934.--Section 12(g) of the Securities Exchange Act of 1934 (15 U.S.C. 
78l(g)) is amended--
            (1) in paragraph (1)(B), by striking ``or a bank holding 
        company, as such term is defined in section 2 of the Bank 
        Holding Company Act of 1956 (12 U.S.C. 1841)'' and inserting 
        ``, a bank holding company, or a savings and loan holding 
        company''; and
            (2) in paragraph (4), by striking ``or a bank holding 
        company, as such term is defined in section 2 of the Bank 
        Holding Company Act of 1956 (12 U.S.C. 1841)'' and inserting 
        ``, a bank holding company, or a savings and loan holding 
        company''.
    (b) Amendments to Section 15 of the Securities Exchange Act of 
1934.--Section 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 
78o(d)) is amended, in the third sentence, by striking ``or a bank 
holding company, as such term is defined in section 2 of the Bank 
Holding Company Act of 1956 (12 U.S.C. 1841), 1,200 persons persons'' 
and inserting ``, a bank holding company, or a savings and loan holding 
company of less than 1,200 persons''.
    (c) Definitions.--Section 3(a) of the Securities Exchange Act of 
1934 (15 U.S.C. 78c(a)) is amended--
            (1) by redesignating the second paragraph (80) (relating to 
        funding portals) as paragraph (81); and
            (2) by adding at the end the following:
            ``(82) Bank holding company.--The term `bank holding 
        company' has the meaning given such term under section 2 of the 
        Bank Holding Company Act of 1956 (12 U.S.C. 1841).
            ``(83) Savings and loan holding company.--The term `savings 
        and loan holding company' has the meaning given such term under 
        section 10(a) of the Home Owners' Loan Act (12 U.S.C. 
        1467a(a)).''.

SEC. 3. SHORT FORM CALL REPORTING.

    Section 7(a) of the Federal Deposit Insurance Act (12 U.S.C. 
1817(a)) is amended by adding at the end the following:
            ``(12) Short form reporting.--
                    ``(A) In general.--The appropriate Federal banking 
                agencies shall issue regulations allowing for a reduced 
                reporting requirement for covered depository 
                institutions when making the first and third report of 
                condition for a year, as required pursuant to paragraph 
                (3).
                    ``(B) Covered depository institution defined.--For 
                purposes of this paragraph, the term `covered 
                depository institution' means an insured depository 
                institution that--
                            ``(i) has a CAMELS composite rating of 1 or 
                        2 under the Uniform Financial Institutions 
                        Rating System (or an equivalent rating under a 
                        comparable rating system) as of the most recent 
                        examination of such institution; and
                            ``(ii) satisfies such other criteria as the 
                        appropriate Federal banking agencies determine 
                        appropriate.''.
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