[Congressional Record Volume 164, Number 40 (Wednesday, March 7, 2018)]
[Senate]
[Page S1475]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 2102. Mr. INHOFE (for himself, Mr. Udall, Mr. Kennedy, Mr. 
Cassidy, and Mr. Hoeven) submitted an amendment intended to be proposed 
by him to the bill S. 2155, to promote economic growth, provide 
tailored regulatory relief, and enhance consumer protections, and for 
other purposes; which was ordered to lie on the table; as follows:

       At the appropriate place, insert the following:

     SEC. ___. REGULATORY RELIEF FOR BANKS DURING DISASTERS.

       (a) Definitions.--In this section--
       (1) the terms ``appropriate Federal banking agency'' and 
     ``depository institution'' have the meanings given those 
     terms in section 3 of the Federal Deposit Insurance Act (12 
     U.S.C. 1813); and
       (2) the term ``major disaster'' has the meaning given the 
     term in section 102 of the Robert T. Stafford Disaster Relief 
     and Emergency Assistance Act (42 U.S.C. 5122).
       (b) Requirement.--Not later than 15 days after the date on 
     which the President declares a major disaster under section 
     401 of the Robert T. Stafford Disaster Relief and Emergency 
     Assistance Act (42 U.S.C. 5170), or not later than 15 days 
     after a state of disaster is declared by a Governor of a 
     State for all or part of that State, the appropriate Federal 
     banking agencies shall issue guidance to depository 
     institutions located in the area for which the President 
     declared the major disaster or the Governor declared a state 
     of disaster, as applicable, for reducing regulatory burdens 
     for borrowers and communities in order to facilitate recovery 
     from the disaster.
       (c) Contents.--Guidance issued under subsection (b) shall 
     include instructions from the appropriate Federal banking 
     agency regarding--
       (1) extending repayment terms, adjusting existing loans, 
     and easing terms for new loans, in accordance with prudent 
     banking practices that involve appropriate monitoring;
       (2) providing relief from reporting and publishing 
     requirements, including by accepting delayed filing and 
     publishing of reports by depository institutions in areas 
     affected by the major disaster or covered by the state of 
     disaster, as applicable;
       (3) taking appropriate actions to stabilize investments in 
     local government projects affected by the major disaster or 
     covered by the state of disaster, as applicable;
       (4) promoting awareness of the eligibility of depository 
     institutions for loans or investments made in areas affected 
     by the major disaster or covered by the state of disaster, as 
     applicable, under the Community Reinvestment Act of 1977 (12 
     U.S.C. 2901 et seq.); and
       (5) such other issues as determined appropriate by the 
     appropriate Federal banking agency.
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