[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6544 Reported in House (RH)]
<DOC>
Union Calendar No. 452
119th CONGRESS
2d Session
H. R. 6544
[Report No. 119-527]
To require the Federal financial institutions regulatory agencies to
review the cumulative impact of regulations issued by such agencies,
and for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
December 9, 2025
Mr. Timmons introduced the following bill; which was referred to the
Committee on Financial Services
February 25, 2026
Reported with an amendment, committed to the Committee of the Whole
House on the State of the Union, and ordered to be printed
[Strike out all after the enacting clause and insert the part printed
in italic]
[For text of introduced bill, see copy of bill as introduced on
December 9, 2025]
_______________________________________________________________________
A BILL
To require the Federal financial institutions regulatory agencies to
review the cumulative impact of regulations issued by such agencies,
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 ``Regulatory Efficiency, Verification,
Itemization, and Enhanced Workflow Act of 2025'' or the ``REVIEW Act of
2025''.
SEC. 2. REVIEW OF REGULATIONS.
Section 2222 of the Economic Growth and Regulatory Paperwork
Reduction Act of 1996 (12 U.S.C. 3311) is amended--
(1) by striking ``appropriate Federal banking agency'' each
place such term appears and inserting ``Federal financial
institutions regulatory agency'';
(2) in subsection (a)--
(A) by striking ``represented on the Council''; and
(B) by striking ``once every 10 years'' and
inserting ``once every 7 years'';
(3) in subsection (b)--
(A) by redesignating paragraphs (1) and (2) as
subparagraphs (A) and (B), respectively (and adjusting
the margins accordingly);
(B) by striking ``In conducting'' and inserting the
following:
``(1) Solicitation of public comment.--In conducting''; and
(C) by adding at the end the following:
``(2) Internal review of cumulative impact.--Each Federal
financial institutions regulatory agency shall conduct an
internal review of the cumulative impact of regulations issued
by the Federal financial institutions regulatory agency that--
``(A) assesses the effects of such regulations on
consumers' access to financial products and services;
``(B) assesses the effects of such regulations on
the availability of financial products and services to
financial and nonfinancial firms;
``(C) assesses the impact of such regulations on
credit availability and financial market liquidity in
United States financial markets;
``(D) assesses the balance of benefits and costs of
such regulations with respect to the safety and
soundness of the United States financial system and
overall economic activity in the United States;
``(E) to the extent practicable, quantifies the
direct and indirect economic costs imposed by such
regulations; and
``(F) includes recommendations to streamline,
simplify, or eliminate duplicative, outdated, and
unnecessarily burdensome regulations.'';
(4) in subsection (c)--
(A) by striking ``subsection (b)(2)'' and inserting
``subsection (b)(1)(B), and the internal review under
subsection (b)(2),''; and
(B) by striking ``once every 10 years'' and
inserting ``once every 7 years'';
(5) in subsection (e)--
(A) in paragraph (1)--
(i) by striking ``appropriate Federal
banking agencies'' and inserting ``Federal
financial institutions regulatory agencies'';
and
(ii) by striking ``and'' at the end;
(B) by redesignating paragraph (2) as paragraph
(3);
(C) by inserting after paragraph (1) the following:
``(2) a summary of the findings and determinations of each
Federal financial institutions regulatory agency of the
internal review conducted by the Federal financial institutions
regulatory agency under subsection (b)(2); and''; and
(D) in paragraph (3), as so redesignated, by
striking ``the regulatory burdens associated with such
issues by regulation'' and inserting ``the regulatory
burdens associated with the issues identified by public
comments received by the Council and the Federal
financial institutions regulatory agencies, as well as
the regulatory burdens identified by each Federal
financial institutions regulatory agency through the
internal reviews conducted under subsection (b)(2), by
regulation''; and
(6) by adding at the end the following:
``(f) Federal Financial Institutions Regulatory Agency Defined.--
The term `Federal financial institutions regulatory agency' has the
meaning given that term in section 1003 of the Federal Financial
Institutions Examination Council Act of 1978 (12 U.S.C. 3302).''.
Union Calendar No. 452
119th CONGRESS
2d Session
H. R. 6544
[Report No. 119-527]
_______________________________________________________________________
A BILL
To require the Federal financial institutions regulatory agencies to
review the cumulative impact of regulations issued by such agencies,
and for other purposes.
_______________________________________________________________________
February 25, 2026
Reported with an amendment, committed to the Committee of the Whole
House on the State of the Union, and ordered to be printed