HR 6544 — REVIEW Act of 2025

Summary

Regulatory Efficiency, Verification, Itemization, and Enhanced Workflow Act of 2025 or the REVIEW Act of 2025This bill increases the frequency and expands the scope of regulatory reviews conducted by federal financial agencies.Currently, these regulatory reviews must occur every 10 years to identify outdated or unnecessary regulations imposed on insured depository institutions. The bill increases this frequency to every 7 years. Additionally, the bill expands these reviews to include an internal review of the cumulative impacts of regulations, including an assessment regarding (1) access to financial products and services, (2) credit availability and market liquidity, and (3) costs and benefits of regulations with respect to financial safety and soundness and overall economic activity. The bill also codifies the National Credit Union Administration’s inclusion in this review process.

Bill Text

Published by the reporting committee Not generated — this is the committee's own “Changes in Existing Law Made by the Bill, as Reported”.

Text to be removed appears in [brackets]. Newly inserted text is italicised in the official report and cannot be marked in this plain-text rendition — read the official PDF ↗ for the authoritative formatting.

changes in existing law made by 
the bill, as reported, are shown as follows (existing law 
proposed to be omitted is enclosed in black brackets, new 
matter is printed in italics, and existing law in which no 
change is proposed is shown in roman):

 ECONOMIC GROWTH AND REGULATORY PAPERWORK REDUCTION ACT OF 1996

DIVISION A

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TITLE II--ECONOMIC GROWTH AND REGULATORY PAPERWORK REDUCTION

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Subtitle B--Streamlining Government Regulation

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CHAPTER 2--ELIMINATING UNNECESSARY REGULATORY BURDENS

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SEC. 2222. REQUIRED REVIEW OF REGULATIONS.

 (a) In General.--Not less frequently than [once every 10 
years] once every 7 years, the Council and each [appropriate 
Federal banking agency] Federal financial institutions 
regulatory agency [represented on the Council] shall conduct a 
review of all regulations prescribed by the Council or by any 
such [appropriate Federal banking agency] Federal financial 
institutions regulatory agency, respectively, in order to 
identify outdated or otherwise unnecessary regulatory 
requirements imposed on insured depository institutions.
 (b) Process.-- [In conducting]
 (1) Solicitation of public comment._In conducting the 
 review under subsection (a), the Council or the 
 [appropriate Federal banking agency] Federal financial 
 institutions regulatory agency shall--
 [(1)] (A) categorize the regulations 
 described in subsection (a) by type (such as 
 consumer regulations, safety and soundness 
 regulations, or such other designations as 
 determined by the Council, or the [appropriate 
 Federal banking agency] Federal financial 
 institutions regulatory agency); and
 [(2)] (B) at regular intervals, provide 
 notice and solicit public comment on a 
 particular category or categories of 
 regulations, requesting commentators to 
 identify areas of the regulations that are 
 outdated, unnecessary, or unduly burdensome.
 (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.
 (c) Complete Review.--The Council or the [appropriate Federal 
banking agency] Federal financial institutions regulatory 
agency shall ensure that the notice and comment period 
described in [subsection (b)(2)] subsection (b)(1)(B), and the 
internal review under subsection (b)(2), is conducted with 
respect to all regulations described in subsection (a) not less 
frequently than [once every 10 years] once every 7 years.
 (d) Regulatory Response.--The Council or the [appropriate 
Federal banking agency] Federal financial institutions 
regulatory agency shall--
 (1) publish in the Federal Register a summary of the 
 comments received under this section, identifying 
 significant issues raised and providing comment on such 
 issues; and
 (2) eliminate unnecessary regulations to the extent 
 that such action is appropriate.
 (e) Report to Congress.--Not later than 30 days after 
carrying out subsection (d)(1), the Council shall submit to the 
Congress a report, which shall include--
 (1) a summary of any significant issues raised by 
 public comments received by the Council and the 
 [appropriate Federal banking agencies] Federal 
 financial institutions regulatory agencies under this 
 section and the relative merits of such issues; [and]
 (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
 [(2)] (3) an analysis of whether the [appropriate 
 Federal banking agency] Federal financial institutions 
 regulatory agency involved is able to address [the 
 regulatory burdens associated with such issues by 
 regulation] 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, or 
 whether such burdens must be addressed by legislative 
 action.
 (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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 [GRAPHIC(S) NOT AVAILABLE IN TIFF FORMAT]

Source: H. Rept. 119-527 · govinfo

Compared against current U.S. Code AI-generated reading aid — verify against the official bill.

The bill modifies existing review procedures for federal financial regulations by changing the frequency, redefining agencies involved, and introducing a comprehensive assessment of regulatory impacts.

• 12 U.S.C. 3311

  appropriate Federal banking agency → Federal financial institutions regulatory agency

  The term used to describe regulatory agencies is updated to encompass a broader category.

• 12 U.S.C. 3311

  once every 10 years → once every 7 years

  The frequency of regulatory reviews is increased from every 10 years to every 7 years.

• 12 U.S.C. 3311

  represented on the Council

  The requirement for agencies to be represented on the Council is removed.

• 12 U.S.C. 3311

  In conducting → (1) Solicitation of public comment.--In conducting

  The section is reorganized to clarify the process of soliciting public comments.

• 12 U.S.C. 3311

  (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--

  An internal review requirement assessing the cumulative impact of regulations is introduced.

• 12 U.S.C. 3311

  (A) assesses the effects of such regulations on consumers' access to financial products and services;

  Regulations must now be evaluated for their effects on consumer access to financial products.

• 12 U.S.C. 3311

  (B) assesses the effects of such regulations on the availability of financial products and services to financial and nonfinancial firms;

  There is now a requirement to evaluate regulations' effects on the availability of financial services.

• 12 U.S.C. 3311

  (C) assesses the impact of such regulations on credit availability and financial market liquidity in United States financial markets;

  Impact assessments must now include considerations of credit availability and market liquidity.

• 12 U.S.C. 3311

  (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;

  Regulations will be evaluated for their cost-benefit balance concerning financial system safety and economic activity.

• 12 U.S.C. 3311

  (E) to the extent practicable, quantifies the direct and indirect economic costs imposed by such regulations;

  The bill requires quantification of economic costs of regulations where feasible.

• 12 U.S.C. 3311

  (F) includes recommendations to streamline, simplify, or eliminate duplicative, outdated, and unnecessarily burdensome regulations.

  The review will now include recommendations for regulatory improvements such as streamlining.

• 12 U.S.C. 3311

  subsection (b)(2) → subsection (b)(1)(B), and the internal review under subsection (b)(2),

  The review process clarification includes references to both public comment solicitation and internal reviews.

• 12 U.S.C. 3311

  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

  A requirement to summarize findings from the internal review is introduced.

• 12 U.S.C. 3311

  the regulatory burdens associated with such issues by regulation → 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

  The bill expands the understanding of regulatory burdens to include internal review findings.

• 12 U.S.C. 3311

  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).

  A definition for 'Federal financial institutions regulatory agency' is added for clarity.

Action History

1. December 09, 2025

   Introduced in House

2. December 09, 2025

   Introduced in House

3. December 09, 2025

   Referred to the House Committee on Financial Services.

4. December 16, 2025

   Committee Consideration and Mark-up Session Held

5. December 17, 2025

   Committee Consideration and Mark-up Session Held

6. December 17, 2025

   Ordered to be Reported (Amended) by the Yeas and Nays: 30 - 23.

7. February 25, 2026

   Reported (Amended) by the Committee on Financial Services. H. Rept. 119-527.

8. February 25, 2026

   Reported (Amended) by the Committee on Financial Services. H. Rept. 119-527.

9. February 25, 2026

   Placed on the Union Calendar, Calendar No. 452.

Sponsors

• William R. Timmons · Primary

Subjects