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U.S. GOVERNMENT
INFORMATION
Gp
115TH CONGRESS REPORT
2d Session HOUSE OF REPRESENTATIVES 115-573
COMPREHENSIVE REGULATORY REVIEW ACT
FEBRUARY 23, 2018.-Committed to the Committee of the Whole House on the State
of the Union and ordered to be printed
Mr. HENSARLING, from the Committee on Financial Services,
submitted the following
REPORT
together with
MINORITY VIEWS
[To accompany H.R. 4607]
[Including cost estimate of the Congressional Budget Office]
The Committee on Financial Services, to whom was referred the
bill (H.R. 4607) to amend the Economic Growth and Regulatory Pa-
perwork Reduction Act of 1996 to ensure that Federal financial reg-
ulators perform a comprehensive review of regulations to identify
outdated or otherwise unnecessary regulatory requirements im-
posed on covered persons, and for other purposes, having consid-
ered the same, report favorably thereon without amendment and
recommend that the bill do pass.
PURPOSE AND SUMMARY
Introduced by Representative Barry Loudermilk on December 11,
2017, H.R. 4607, the Comprehensive Regulatory Review Act
amends the Economic Growth and Regulatory Paperwork Reduc-
tion Act of 1996 (EGRPRA) to require the Federal Financial Insti-
tutions Examination Council (FFIEC) and each of the federal finan-
cial regulators-including the Consumer Financial Protection Bu-
reau (CFPB) and National Credit Union Administration (NCUA)-
to conduct, at least once every seven years, a comprehensive review
of all regulations prescribed by the council or the regulator. The re-
view shall include all regulations issued after December 31, 2006,
in order to identify outdated or otherwise unnecessary regulations
and tailor other regulations related to insured depository institu-
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