Rep. Loudermilk (R-GA) House floor speech on his bill, H.R. 4607, the Comprehensive Regulatory Review Act.
H.R. 4607
• Amends the Economic Growth and Regulatory Paperwork Reduction Act of 1996 to expand the required comprehensive review of financial regulatory requirements.
• The review must be performed at least every 7, rather than 10, years.
• After performing the review, a regulator must consider tailoring regulations to limit specified burdens.
• The bill specifies information and criteria the CFPB must use when conducting its review.
H.R. 4607 passed the House by a bipartisan vote of 264-143