H.R. 6544

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

<DOC>

Union Calendar No. 452
119th CONGRESS
2d Session
H. R. 6544

[Report No. 119-527]

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

February 25, 2026

Reported with an amendment, committed to the Committee of the Whole 
House on the State of the Union, and ordered to be printed
[Strike out all after the enacting clause and insert the part printed 
in italic]
[For text of introduced bill, see copy of bill as introduced on 
December 9, 2025]

_______________________________________________________________________

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) in subsection (a)--
(A) by striking ``represented on the Council''; and
(B) by striking ``once every 10 years'' and 
inserting ``once every 7 years'';
(3) 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.'';
(4) 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 7 years'';
(5) in subsection (e)--
(A) in paragraph (1)--
(i) by striking ``appropriate Federal 
banking agencies'' and inserting ``Federal 
financial institutions regulatory agencies''; 
and
(ii) 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
(6) 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).''.
Union Calendar No. 452

119th CONGRESS

2d Session

H. R. 6544

[Report No. 119-527]

_______________________________________________________________________

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.

_______________________________________________________________________

February 25, 2026

Reported with an amendment, committed to the Committee of the Whole 
House on the State of the Union, and ordered to be printed