[Congressional Record Volume 164, Number 41 (Thursday, March 8, 2018)]
[Senate]
[Page S1586]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 2165. 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 title III, add the following:

     SEC. 3__. ARBITRATION AGREEMENTS.

       (a) Definitions.--In this section, the terms ``bank'' and 
     ``credit union'' have the meanings given those terms in 
     section 2 of the Dodd-Frank Wall Street Reform and Consumer 
     Protection Act (12 U.S.C. 5301).
       (b) Revival of the Arbitration Agreements Rule.--
       (1) In general.--The Joint Resolution entitled ``Joint 
     Resolution providing for congressional disapproval under 
     chapter 8 of title 5, United States Code, of the rule 
     submitted by Bureau of Consumer Financial Protection relating 
     to `Arbitration Agreements','' approved November 1, 2017 
     (Public Law 115-74), is repealed.
       (2) Applicability.--
       (A) In general.--Except as provided in subparagraph (B), 
     part 1040 of title 12, Code of Federal Regulations, as in 
     effect on October 31, 2017, shall be applied and administered 
     as if the Joint Resolution described in paragraph (1) had not 
     been enacted.
       (B) Exemption for community financial institutions.--Part 
     1040 of title 12, Code of Federal Regulations, shall not 
     apply to any bank or credit union that, together with its 
     affiliates, has less than $10,000,000,000 in total 
     consolidated assets.
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