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 final regulation or order the Bureau 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 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 Whether other Federal regulations or orders are outdated.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 use its best efforts through all available measures under current law to reconcile 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recommendations made by the Bureau, including— any recommendations of Federal laws or regulations that should be repealed or amended; and any duplicative, inconsistent, or conflicting regulation or order of another Federal financial regulator (as defined under section 9(c)(6)(B) of the Federal Deposit Insurance Act).
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 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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