Reasonable Prudence in Regulation Act

Reasonable Prudence in Regulation Act - Extends from December 1, 2009, to December 1, 2010, the deadline for compliance with specified regulations prohibiting the funding of unlawful Internet gambling (Regulation GG).

[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2266 Introduced in House (IH)]

111th CONGRESS
  1st Session
                                H. R. 2266

 To delay for 1 year the date for compliance with certain regulations 
prescribed by the Secretary of the Treasury and the Board of Governors 
  of the Federal Reserve System under subchapter IV of chapter 53 of 
                     title 31, United States Code.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 6, 2009

  Mr. Frank of Massachusetts introduced the following bill; which was 
            referred to the Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
 To delay for 1 year the date for compliance with certain regulations 
prescribed by the Secretary of the Treasury and the Board of Governors 
  of the Federal Reserve System under subchapter IV of chapter 53 of 
                     title 31, United States Code.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Reasonable Prudence in Regulation 
Act''.

SEC. 2. DELAY IN APPLICATION OF REGULATION.

    Notwithstanding any provision of part 233 of title 12, Code of 
Federal Regulations (also known as Regulation GG) or of part 132 of 
title 31, Code of Federal Regulations, jointly prescribed by the Board 
of Governors of the Federal Reserve System and the Secretary of the 
Treasury, respectively (to implement subchapter IV of chapter 53 of 
title 31, United States Code), the date by which compliance with such 
regulations is required shall be extended from December 1, 2009, to 
December 1, 2010.
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