August 24, 2014

Panel OKs Reg D study, more votes ahead

July 30, 2014 – The House Financial Services Committee will conclude its mark-up up of several regulatory relief bills today by conducting roll-call votes on several measures beginning at 9 a.m. Eastern.

The committee on Tuesday marked up and, on voice vote, passed H.R. 3240, "Regulation D Study," which would require a thorough Government Accountability Office study to review the impact of Reg D's reserve requirements on depository institutions, consumers and monetary policy. This rule is on NAFCU's "Dirty Dozen" list of rules that could be improved or eliminated.

The panel also Tuesday approved an amendment to H.R. 5018, the "Federal Reserve Accountability and Transparency Act," which would require the Fed to conduct a cost-benefit analysis before promulgating any new rule.

Today, the committee is set to vote on final passage for the following:

  • H.R. 4042, the "Community Bank Mortgage Service Asset Capital Requirements Study Act of 2014," as amended;
  • H.R. 5148, the "Access to Affordable Mortgages Act of 2014";
  • H.R. 3913, a bill to amend the Bank Holding Company Act to require agencies to make take into account efficiency, competition and capital formation before issuing or modifying certain regulations; and
  • H.R. 5018, the "Federal Reserve Accountability and Transparency Act of 2014," as amended.