Sec. 2. Federal Deposit Insurance Corporation
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Section 9 of the Federal Deposit Insurance Act ( 12 U.S.C. 1819 ) is amended by adding at the end the following: Before issuing a final regulation or order the Corporation shall, as part of such regulation or order, 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 Corporation 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 Whether other Federal regulations or orders are outdated.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 Corporation shall use its bests efforts through all available measures under current law to reconcile any duplicative or inconsistent existing regulation or order of the Corporation 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 Corporation makes a determination under paragraph (2), the Corporation shall issue a report to the Congress containing recommendations made by the Corporation, including— any recommendations of Federal laws or regulations that should be repealed or amended; and any duplicative, inconsistent, or conflicting regulation or order of another Federal financial regulator (as defined under paragraph (6)(B)). 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 term regulation shall have the meaning given the term rule under section 551(4) of title 31, United States Code, the term order shall have the meaning given such term by the Corporation, and the term other Federal regulations and orders shall mean regulations and orders of the Federal financial regulators, other than the Corporation. The term Federal financial regulators means the Board of Governors of the Federal Reserve System, the Bureau of Consumer Financial Protection, the Commodity Futures Trading Commission, the Comptroller of the Currency, the Corporation, the National Credit Union Administration, and the Securities and Exchange Commission. .
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Sec. 2
Federal Deposit Insurance Corporation
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