Sec. 5. Bureau of Consumer Financial Protection
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Section 1022 of the Consumer Financial Protection Act of 2010 ( 12 U.S.C. 5512 ) is amended by adding at the end the following: Before issuing a regulation or order the Bureau shall assess other Federal regulations and orders to determine the interaction between the proposed regulation or order and other Federal regulations and orders. In making a determination of the interaction between the proposed regulation or order and other Federal regulations, the Bureau shall evaluate the following:
Whether the proposed regulation or order is in conflict with other Federal regulations or orders. Whether the proposed regulation or order is inconsistent with other Federal regulations or orders. Whether the proposed regulation or order is duplicative of other Federal regulations or orders. Whether other Federal regulations or orders are outdated. The Bureau shall take all available measures under current law to resolve any duplicative or inconsistent existing regulation or order with any proposed regulation or order before issuing a final regulation or order.
Not later than the end of the 60-day period beginning on the date the Bureau makes a determination under paragraph (2), the Bureau shall issue a report to the Congress containing recommendations made by the Bureau, including any recommendations of Federal laws or regulations that should be repealed or amended, so that the Congress may repeal or amend any conflicting, inconsistent, duplicative, or outdated laws or regulations. Notwithstanding any other provision of law, a court may not compel action or hold unlawful and set aside any action solely on the basis of compliance or noncompliance with the requirements of this subsection.
For purposes of this subsection, the terms regulation and order shall have the meaning given those terms, respectively, by the Bureau, and the term other Federal regulations and orders shall mean regulations and orders of the Federal financial regulators (as defined under section 9(c)(6)(B) of the Federal Deposit Insurance Act), other than the Bureau. .
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Sec. 5
Bureau of Consumer Financial Protection
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