REVIEW Act of 2025

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6544 Introduced in House (IH)]

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119th CONGRESS
  1st Session
                                H. R. 6544

 To require the Federal financial institutions regulatory agencies to 
 review the cumulative impact of regulations issued by such agencies, 
                        and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            December 9, 2025

 Mr. Timmons introduced the following bill; which was referred to the 
                    Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
 To require the Federal financial institutions regulatory agencies to 
 review the cumulative impact of regulations issued by such agencies, 
                        and for other purposes.

    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 ``Regulatory Efficiency, Verification, 
Itemization, and Enhanced Workflow Act of 2025'' or the ``REVIEW Act of 
2025''.

SEC. 2. REVIEW OF REGULATIONS.

    Section 2222 of the Economic Growth and Regulatory Paperwork 
Reduction Act of 1996 (12 U.S.C. 3311) is amended--
            (1) by striking ``appropriate Federal banking agency'' each 
        place such term appears and inserting ``Federal financial 
        institutions regulatory agency'';
            (2) by striking ``appropriate Federal banking agencies'' 
        each place such term appears and inserting ``Federal financial 
        institutions regulatory agencies'';
            (3) in subsection (a)--
                    (A) by striking ``represented on the Council''; and
                    (B) by striking ``once every 10 years'' and 
                inserting ``once every 5 years'';
            (4) in subsection (b)--
                    (A) by redesignating paragraphs (1) and (2) as 
                subparagraphs (A) and (B), respectively (and adjusting 
                the margins accordingly);
                    (B) by striking ``In conducting'' and inserting the 
                following:
            ``(1) Solicitation of public comment.--In conducting''; and
                    (C) by adding at the end the following:
            ``(2) Internal review of cumulative impact.--Each Federal 
        financial institutions regulatory agency shall conduct an 
        internal review of the cumulative impact of regulations issued 
        by the Federal financial institutions regulatory agency that--
                    ``(A) assesses the effects of such regulations on 
                consumers' access to financial products and services;
                    ``(B) assesses the effects of such regulations on 
                the availability of financial products and services to 
                financial and nonfinancial firms;
                    ``(C) assesses the impact of such regulations on 
                credit availability and financial market liquidity in 
                United States financial markets;
                    ``(D) assesses the balance of benefits and costs of 
                such regulations with respect to the safety and 
                soundness of the United States financial system and 
                overall economic activity in the United States;
                    ``(E) to the extent practicable, quantifies the 
                direct and indirect economic costs imposed by such 
                regulations; and
                    ``(F) includes recommendations to streamline, 
                simplify, or eliminate duplicative, outdated, and 
                unnecessarily burdensome regulations.'';
            (5) in subsection (c)--
                    (A) by striking ``subsection (b)(2)'' and inserting 
                ``subsection (b)(1)(B), and the internal review under 
                subsection (b)(2),''; and
                    (B) by striking ``once every 10 years'' and 
                inserting ``once every 5 years'';
            (6) in subsection (e)--
                    (A) in paragraph (1), by striking ``and'' at the 
                end;
                    (B) by redesignating paragraph (2) as paragraph 
                (3);
                    (C) by inserting after paragraph (1) the following:
            ``(2) a summary of the findings and determinations of each 
        Federal financial institutions regulatory agency of the 
        internal review conducted by the Federal financial institutions 
        regulatory agency under subsection (b)(2); and''; and
                    (D) in paragraph (3), as so redesignated, by 
                striking ``the regulatory burdens associated with such 
                issues by regulation'' and inserting ``the regulatory 
                burdens associated with the issues identified by public 
                comments received by the Council and the Federal 
                financial institutions regulatory agencies, as well as 
                the regulatory burdens identified by each Federal 
                financial institutions regulatory agency through the 
                internal reviews conducted under subsection (b)(2), by 
                regulation''; and
            (7) by adding at the end the following:
    ``(f) Federal Financial Institutions Regulatory Agency Defined.--
The term `Federal financial institutions regulatory agency' has the 
meaning given that term in section 1003 of the Federal Financial 
Institutions Examination Council Act of 1978 (12 U.S.C. 3302).''.
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