Sec. 201. Regulatory consideration for small financial institutions
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Section 504 of the Gramm-Leach-Bliley Act ( 15 U.S.C. 6804 ) is amended by adding at the end the following: Each of the agencies authorized under subsection (a)(1) to prescribe regulations shall take into account the effects of the regulations on financial institutions with $15,000,000,000 or less in assets, including the resource, technical, and personnel limitations of such financial institutions to comply with the regulations and the regulatory compliance costs relative to the size, complexity, financial activities, revenues, and noncompliance costs of such financial institutions.
By April 1, 2031, and the 1st day of each subsequent 5-year period, the agencies authorized under subsection (a)(1) to prescribe regulations shall increase the threshold described in paragraph
(1)by the ratio, if greater than 1, of the annual value of current-dollar United States gross domestic product, published by the Department of Commerce, for the calendar year preceding the year in which the adjustment is calculated under this section, to the published annual value of such index for the calendar year preceding April 1, 2026. .
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Sec. 201
Regulatory consideration for small financial institutions
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