[Congressional Record Volume 164, Number 41 (Thursday, March 8, 2018)]
[Senate]
[Page S1585]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 2160. Ms. CORTEZ MASTO submitted an amendment intended to be 
proposed by her 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 end of section 401, add the following:
       (__) No Relief for Bad Actors.--
       (1) Definitions.--In this subsection:
       (A) Bad actor.--The term ``bad actor'' means a bank holding 
     company with total consolidated assets equal to or greater 
     than $50,000,000,000 if the company, its predecessor, or any 
     of its subsidiaries was subject to an order, judgment, or 
     decree of any court of competent jurisdiction entered on or 
     after July 21, 2010, or a final order of an Executive agency 
     entered on or after July 21, 2010, that--
       (i) is the result of an enforcement action initiated by an 
     Executive agency or State attorney general;
       (ii) imposes penalties for violations--

       (I) of any Federal or State law related to mortgage 
     origination, servicing, or foreclosure processing, as defined 
     by the Board of Governors of the Federal Reserve System; or
       (II) involving the offer or sale of residential mortgage-
     backed securities or any financial instrument that references 
     residential mortgage-backed securities under--

       (aa) the Securities Act of 1933 (15 U.S.C. 77b et seq.); or
       (bb) the Securities Exchange Act of 1934 (15 U.S.C. 78a et 
     seq.); and
       (iii) imposes monetary penalties of more than $1,000,000.
       (B) Executive agency.--The term ``Executive agency'' has 
     the meaning given the term in section 105 of title 5, United 
     States Code.
       (2) Prohibition.--Notwithstanding any other provision in 
     this title, a bad actor shall be subject to standards or 
     requirements under sections 116(a), 121(a), 155(d), 163(b), 
     164, and 165 of the Financial Stability Act of 2010 (12 
     U.S.C. 5326(a), 5331(a), 5345(d), 5363(b), 5364, 5365) that 
     are no less stringent than the standards or requirements 
     applicable to the bad actor on December 1, 2017.
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