[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[S. 923 Introduced in Senate (IS)]

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115th CONGRESS
  1st Session
                                 S. 923

To exempt certain financial institutions from regulations issued under 
     the Dodd-Frank Wall Street Reform and Consumer Protection Act.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             April 24, 2017

  Mr. Kennedy introduced the following bill; which was read twice and 
    referred to the Committee on Banking, Housing, and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
To exempt certain financial institutions from regulations issued under 
     the Dodd-Frank Wall Street Reform and Consumer Protection Act.

    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 ``Reforming Finance for Local 
Economies Act''.

SEC. 2. EXEMPTION FROM REGULATIONS.

    (a) Definition.--In this section, the term ``financial 
institution'' means a bank, a credit union, or a savings association, 
as those terms are defined in section 2 of the Dodd-Frank Wall Street 
Reform and Consumer Protection Act (12 U.S.C. 5301), that has not more 
than $10,000,000,000 in total consolidated assets.
    (b) Exemption.--No regulation issued under the Dodd-Frank Wall 
Street Reform and Consumer Protection Act (12 U.S.C. 5301 et seq.) or 
any amendment made by that Act shall apply to a financial institution.
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