Sec. 4. Considerations for comprehensive regulatory review
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Section 2222 of the Economic Growth and Regulatory Paperwork Reduction Act of 1996 ( 12 U.S.C. 3311 ), as amended by section 3, is further amended— in subsection (b)— in paragraph (1), by striking and at the end; by redesignating paragraph
(2)as paragraph (5); and by inserting after paragraph
(1)the following new paragraphs: consider the impact of the regulations on the financial safety and soundness of covered persons; consider the impact of the regulations on the risk profile and business models of covered persons subject to the regulatory action; determine the necessity, appropriateness, and impact of continuing to apply such regulatory action to such covered persons; and ; in subsection (c), by striking 10 years and inserting 5 years ; and in subsection (d), by amending paragraph
(2)to read as follows: eliminate or tailor unnecessary regulations related to covered persons in a manner that limits the regulatory compliance impact, cost, liability risk, and other burdens, as is appropriate. .
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Sec. 4
Considerations for comprehensive regulatory review
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