{ "id": "IN10695", "type": "CRS Insight", "typeId": "INSIGHTS", "number": "IN10695", "active": false, "source": "EveryCRSReport.com", "versions": [ { "source": "EveryCRSReport.com", "id": 461896, "date": "2017-06-12", "retrieved": "2018-05-10T14:05:13.046653", "title": "The Financial CHOICE Act (H.R. 10) and the Dodd-Frank Act", "summary": "Representative Jeb Hensarling, chairman of the House Committee on Financial Services, introduced the Financial CHOICE Act of 2017 (H.R. 10) on April 26, 2017. H.R. 10 was passed by the House on June 8, 2017. The bill as passed is a wide-ranging proposal with 12 titles that would alter many parts of the financial regulatory system. H.R. 10 is similar to, but has several major differences from, H.R. 5983 from the 114th Congress (called the Financial CHOICE Act of 2016).\nThe next section highlights major proposals included in the bill, as passed. It is not a comprehensive summary. For a more detailed analysis of H.R. 10, see CRS Report R44839, The Financial CHOICE Act in the 115th Congress: Selected Policy Issues, by Marc Labonte et al. \nMajor Provisions\nIn general, the changes proposed by the FCA can be divided into two categories: (1) changes to financial policies and regulations and (2) changes to the regulatory structure and rulemaking process.\nMajor policy-related changes proposed by the FCA include the following:\nLeverage Ratio\u2014allowing a banking organization to choose to be subject to a higher, 10% leverage ratio in exchange for being exempt from risk-weighted capital ratios, liquidity requirements, enhanced prudential regulation (if the bank has more than $50 billion in assets), and other regulations.\nRegulatory Relief\u2014providing regulatory relief throughout the financial system to banks, consumers, and capital market participants, including by repealing the Volcker Rule, fiduciary rule, and risk retention requirements for non-mortgage asset-backed securities. Some provisions are targeted at small financial institutions or issuers, whereas others provisions are applied across the board.\nToo Big To Fail\u2014repealing enhanced prudential regulation for firms designated as systemically important financial institutions; restricting the authority of the Federal Reserve, Treasury, and Federal Deposit Insurance Corporation to provide federal emergency assistance during a crisis; and replacing the Orderly Liquidation Authority, an option for winding down systemic institutions, with a new chapter in the Bankruptcy Code that is tailored to financial firms.\nH.R. 10 also includes structural and procedural changes that affect the balance between regulator independence from and accountability to Congress and the judiciary, including\nFunding\u2014subjecting regulators that currently set their own budgets to the traditional congressional appropriations process.\nRulemaking\u2014requiring regulators to perform more detailed cost-benefit analysis when issuing new rules and to use cost-benefit analysis to review existing rules, amending the Congressional Review Act to require congressional approval for a \u201cmajor\u201d rule to come into effect.\nJudicial Review\u2014requiring courts to apply a heightened judicial review standard for agency actions taken by financial regulators rather than applying varying levels of deference to the agencies\u2019 interpretations of the law. \nEnforcement\u2014increasing the maximum civil penalties that could be assessed for violations of certain banking and securities laws and restraining certain agency enforcement powers.\nCFPB\u2014replacing the Consumer Financial Protection Bureau with the Consumer Law Enforcement Agency and modifying its powers, leadership, mandate, and funding. The new agency would not have the CFPB\u2019s examination or supervisory powers, but would have many of the same enforcement powers. Its director would be removable at-will by the President.\nFederal Reserve\u2014requiring a GAO audit of the Fed, restricting emergency lending, and requiring the Fed to compare its monetary policy decisions to a mathematical rule. \nThe FCA as reported by the House Financial Services Committee included a provision that would have repealed the Durbin Amendment, which caps debit card interchange fees for banks with over $10 billion in assets. H.R. 10 as passed does not include this provision.\nFCA Changes to the Dodd-Frank Act\nMuch of H.R. 10 is presented as an alternative to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act; P.L. 111-203), a broad package of regulatory reform enacted in response to the financial crisis that initiated the most significant changes to the financial regulatory system since at least 1999. Many of the provisions of the FCA would modify or repeal provisions from the Dodd-Frank Act, although others would address long-standing or more recent issues.\nTable 1 provides a brief overview of selected changes that H.R. 10 would make to the Dodd-Frank Act on a title-by-title basis for the 16 titles in the Dodd-Frank Act. For more information on the content of each Title of the Dodd-Frank Act, see CRS Report R41350, The Dodd-Frank Wall Street Reform and Consumer Protection Act: Background and Summary, coordinated by Baird Webel.\nTable 1. Selected Changes to the Dodd-Frank Act in the Financial CHOICE Act of 2017\nTitle Number\nSubject of Title\nSelected Changes\n\nI\nFinancial Stability\nEliminates Office of Financial Research and SIFI designations; modifies FSOC\u2019s authority, funding, procedures, and structure; exempts firms from enhanced regulation if 10% leverage ratio\n\nII\nOrderly Liquidation Authority\nRepeals entire title\n\nIII\nOffice of Thrift Supervision\nNo changes\n\nIV\nAdvisers to Private Funds\nExempts private equity advisers from registration requirements, expands accredited investor definition\n\nV\nInsurance\nCreates new office combining FSOC insurance expert and Federal Insurance Office\n\nVI\nRegulation of Depository Institutions\nRepeals Volcker Rule and non-bank concentration limits\n\nVII\nDerivatives\nRequires SEC-CFTC harmonization of rules; modifies requirements on swaps between affiliates\n\nVIII\nPayment, Clearing, and Settlement Supervision\nRepeals entire title\n\nIX\nInvestor Protections\nRepeals SEC reserve fund, certain provisions affecting credit agencies, various executive compensation requirements; exempts securities from risk retention rules that are not residential mortgages\n\nX\nBureau of Consumer Financial Protection\nModifies CFPB authority, structure, and funding\n\nXI\nFederal Reserve\nRepeals FDIC authority to provide emergency guarantees, narrows Fed\u2019s emergency lending authority\n\nXII\nAccess to Mainstream Financial Institutions\nNo changes\n\nXIII\nTARP funding\nNo changes\n\nXIV\nMortgage Reform\nModifies mortgage rules, including manufactured housing, points and fees, and portfolio lending\n\nXV\nMiscellaneous Provisions\nRepeals provisions on conflict minerals, mine safety, and resource extraction disclosure\n\nXVI\nSection 1256 Contracts\nNo changes\n\nSource: Created by CRS.", "type": "CRS Insight", "typeId": "INSIGHTS", "active": false, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/IN10695", "sha1": "516c7665e1125faea395adbae97d6475264d0560", "filename": "files/20170612_IN10695_516c7665e1125faea395adbae97d6475264d0560.html", "images": {} } ], "topics": [] }, { "source": "EveryCRSReport.com", "id": 461708, "date": "2017-06-02", "retrieved": "2017-06-07T15:29:11.399769", "title": "The Financial CHOICE Act (H.R. 10) and the Dodd-Frank Act", "summary": "Representative Jeb Hensarling, chairman of the House Committee on Financial Services, introduced the Financial CHOICE Act of 2017 (H.R. 10) on April 26, 2017. H.R. 10 was reported by the House Committee on Financial Services on May 25, 2017. The Rules Committee has scheduled a hearing on H.R. 10 on June 6, 2017. The bill as amended is a wide-ranging proposal with 12 titles that would alter many parts of the financial regulatory system. H.R. 10 is similar to, but has several major differences from, H.R. 5983 from the 114th Congress (called the Financial CHOICE Act of 2016).\nThe next section highlights major proposals included in the bill, as introduced. It is not a comprehensive summary. For a more detailed analysis of H.R. 10, see CRS Report R44839, The Financial CHOICE Act in the 115th Congress: Selected Policy Issues, by Marc Labonte et al. \nMajor Provisions\nIn general, the changes proposed by the FCA can be divided into two categories: (1) changes to financial policies and regulations and (2) changes to the regulatory structure and rulemaking process.\nMajor policy-related changes proposed by the FCA include the following:\nLeverage Ratio\u2014allowing a banking organization to choose to be subject to a higher, 10% leverage ratio in exchange for being exempt from risk-weighted capital ratios, liquidity requirements, enhanced prudential regulation (if the bank has more than $50 billion in assets), and other regulations.\nRegulatory Relief\u2014providing regulatory relief throughout the financial system to banks, consumers, and capital market participants, including by repealing the Volcker Rule, fiduciary rule, and risk retention requirements for non-mortgage asset-backed securities. Some provisions are targeted at small financial institutions or issuers, whereas others provisions are applied across the board.\nToo Big To Fail\u2014repealing enhanced prudential regulation for firms designated as systemically important financial institutions; restricting the authority of the Federal Reserve, Treasury, and Federal Deposit Insurance Corporation to provide federal emergency assistance during a crisis; and replacing the Orderly Liquidation Authority, an option for winding down systemic institutions, with a new chapter in the Bankruptcy Code that is tailored to financial firms.\nH.R. 10 also includes structural and procedural changes that affect the balance between regulator independence from and accountability to Congress and the judiciary, including\nFunding\u2014subjecting regulators that currently set their own budgets to the traditional congressional appropriations process.\nRulemaking\u2014requiring regulators to perform more detailed cost-benefit analysis when issuing new rules and to use cost-benefit analysis to review existing rules, amending the Congressional Review Act to require congressional approval for a \u201cmajor\u201d rule to come into effect.\nJudicial Review\u2014requiring courts to apply a heightened judicial review standard for agency actions taken by financial regulators rather than applying varying levels of deference to the agencies\u2019 interpretations of the law. \nEnforcement\u2014increasing the maximum civil penalties that could be assessed for violations of certain banking and securities laws and restraining certain agency enforcement powers.\nCFPB\u2014replacing the Consumer Financial Protection Bureau with the Consumer Law Enforcement Agency and modifying its powers, leadership, mandate, and funding. The new agency would not have the CFPB\u2019s examination or supervisory powers, but would have many of the same enforcement powers. Its director would be removable at-will by the President.\nFederal Reserve\u2014requiring a GAO audit of the Fed, restricting emergency lending, and requiring the Fed to compare its monetary policy decisions to a mathematical rule. \nThe FCA as reported by the House Financial Services Committee included a provision that would have repealed the Durbin Amendment, which caps debit card interchange fees. An amendment in the nature of a substitute posted on the Rules Committee website on May 26, 2017, does not include this provision.\nFCA Changes to the Dodd-Frank Act\nMuch of H.R. 10 is presented as an alternative to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act; P.L. 111-203), a broad package of regulatory reform enacted in response to the financial crisis that initiated the most significant changes to the financial regulatory system since at least 1999. Many of the provisions of the FCA would modify or repeal provisions from the Dodd-Frank Act, although others would address long-standing or more recent issues.\nTable 1 provides a brief overview of selected changes that H.R. 10 would make to the Dodd-Frank Act on a title-by-title basis for the 16 titles in the Dodd-Frank Act. For more information on the content of each Title of the Dodd-Frank Act, see CRS Report R41350, The Dodd-Frank Wall Street Reform and Consumer Protection Act: Background and Summary, coordinated by Baird Webel.\nTable 1. Selected Changes to the Dodd-Frank Act in the Financial CHOICE Act of 2017\nTitle Number\nSubject of Title\nSelected Changes\n\nI\nFinancial Stability\nEliminates Office of Financial Research and SIFI designations; modifies FSOC\u2019s authority, funding, procedures, and structure; exempts firms from enhanced regulation if 10% leverage ratio\n\nII\nOrderly Liquidation Authority\nRepeals entire title\n\nIII\nOffice of Thrift Supervision\nNo changes\n\nIV\nAdvisers to Hedge Funds\nRepeals changes to definition of accredited investor \n\nV\nInsurance\nCreates new office combining FSOC insurance expert and Federal Insurance Office\n\nVI\nRegulation of Depository Institutions\nRepeals Volcker Rule and non-bank concentration limits\n\nVII\nDerivatives\nRequires SEC-CFTC harmonization of rules; modifies requirements on swaps between affiliates\n\nVIII\nPayment, Clearing, and Settlement Supervision\nRepeals entire title\n\nIX\nInvestor Protections\nRepeals SEC reserve fund, certain provisions affecting credit agencies, various executive compensation requirements; exempts securities from risk retention rules that are not residential mortgages\n\nX\nBureau of Consumer Financial Protection\nModifies CFPB authority, structure, and funding\n\nXI\nFederal Reserve\nRepeals FDIC authority to provide emergency guarantees, narrows Fed\u2019s emergency lending authority\n\nXII\nAccess to Mainstream Financial Institutions\nNo changes\n\nXIII\nTARP funding\nNo changes\n\nXIV\nMortgage Reform\nModifies mortgage rules, including manufactured housing, points and fees, and portfolio lending\n\nXV\nMiscellaneous Provisions\nRepeals provisions on conflict minerals, mine safety, and resource extraction disclosure\n\nXVI\nSection 1256 Contracts\nNo changes\n\nSource: Created by CRS.", "type": "CRS Insight", "typeId": "INSIGHTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/IN10695", "sha1": "6eaef7bd8f4e2835629d6481116a185c1b68f70f", "filename": "files/20170602_IN10695_6eaef7bd8f4e2835629d6481116a185c1b68f70f.html", "images": null } ], "topics": [] }, { "source": "EveryCRSReport.com", "id": 461398, "date": "2017-05-22", "retrieved": "2017-05-24T16:15:06.121125", "title": "The Financial CHOICE Act (H.R. 10) and the Dodd-Frank Act", "summary": "Representative Jeb Hensarling, chairman of the House Committee on Financial Services, introduced the Financial CHOICE Act of 2017 (H.R. 10) on April 26, 2017. H.R. 10 was ordered to be reported by the House Committee on Financial Services on May 4, 2017. The bill as amended is a wide-ranging proposal with 12 titles that would alter many parts of the financial regulatory system. H.R. 10 is similar to, but has several major differences from, H.R. 5983 from the 114th Congress (called the Financial CHOICE Act of 2016).\nThe next section highlights major proposals included in the bill, as introduced. It is not a comprehensive summary. For a more detailed analysis of H.R. 10, see CRS Report R44839, The Financial CHOICE Act in the 115th Congress: Selected Policy Issues, by Marc Labonte et al. \nMajor Provisions\nIn general, the changes proposed by the FCA can be divided into two categories: (1) changes to financial policies and regulations and (2) changes to the regulatory structure and rulemaking process.\nMajor policy-related changes proposed by the FCA include the following:\nLeverage Ratio\u2014allowing a banking organization to choose to be subject to a higher, 10% leverage ratio in exchange for being exempt from risk-weighted capital ratios, liquidity requirements, enhanced prudential regulation (if the bank has more than $50 billion in assets), and other regulations.\nRegulatory Relief\u2014providing regulatory relief throughout the financial system to banks, consumers, and capital market participants, including by repealing the Volcker Rule, Durbin Amendment, fiduciary rule, and risk retention requirements for non-mortgage asset-backed securities. Some provisions are targeted at small financial institutions or issuers, whereas others provisions are applied across the board.\nToo Big To Fail\u2014repealing enhanced prudential regulation for firms designated as systemically important financial institutions; restricting the authority of the Federal Reserve, Treasury, and Federal Deposit Insurance Corporation to provide federal emergency assistance during a crisis; and replacing the Orderly Liquidation Authority, an option for winding down systemic institutions, with a new chapter in the Bankruptcy Code that is tailored to financial firms.\nH.R. 10 also includes structural and procedural changes that affect the balance between regulator independence from and accountability to Congress and the judiciary, including:\nFunding\u2014subjecting regulators that currently set their own budgets to the traditional congressional appropriations process.\nRulemaking\u2014requiring regulators to perform more detailed cost-benefit analysis when issuing new rules and to use cost-benefit analysis to review existing rules, amending the Congressional Review Act to require congressional approval for a \u201cmajor\u201d rule to come into effect.\nJudicial Review\u2014requiring courts to apply a heightened judicial review standard for agency actions taken by financial regulators rather than applying varying levels of deference to the agencies\u2019 interpretations of the law. \nEnforcement\u2014increasing the maximum civil penalties that could be assessed for violations of certain banking and securities laws and restraining certain agency enforcement powers.\nCFPB\u2014replacing the Consumer Financial Protection Bureau with the Consumer Law Enforcement Agency and modifying its powers, leadership, mandate, and funding. The new agency would not have the CFPB\u2019s examination or supervisory powers, but would have many of the same enforcement powers. Its director would be removable at-will by the President.\nFederal Reserve\u2014requiring a GAO audit of the Fed, restricting emergency lending, and requiring the Fed to compare its monetary policy decisions to a mathematical rule. \nFCA Changes to the Dodd-Frank Act\nMuch of H.R. 10 is presented as an alternative to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act; P.L. 111-203), a broad package of regulatory reform enacted in response to the financial crisis that initiated the most significant changes to the financial regulatory system since at least 1999. Many of the provisions of the FCA would modify or repeal provisions from the Dodd-Frank Act, although others would address long-standing or more recent issues.\nTable 1 provides a brief overview of selected changes that H.R. 10 makes to the Dodd-Frank Act on a title-by-title basis for the 16 titles in the Dodd-Frank Act. For more information on the content of each Title of the Dodd-Frank Act, see CRS Report R41350, The Dodd-Frank Wall Street Reform and Consumer Protection Act: Background and Summary, coordinated by Baird Webel.\nTable 1. Selected Changes to the Dodd-Frank Act in the Financial CHOICE Act of 2017\nTitle Number\nSubject of Title\nSelected Changes\n\nI\nFinancial Stability\nEliminates Office of Financial Research and SIFI designations; modifies FSOC\u2019s authority, funding, procedures, and structure; exempts firms from enhanced regulation if 10% leverage ratio\n\nII\nOrderly Liquidation Authority\nRepeals entire title\n\nIII\nOffice of Thrift Supervision\nNo changes\n\nIV\nAdvisers to Hedge Funds\nRepeals changes to definition of accredited investor \n\nV\nInsurance\nCreates new office combining FSOC insurance expert and Federal Insurance Office\n\nVI\nRegulation of Depository Institutions\nRepeals Volcker Rule and non-bank concentration limits\n\nVII\nDerivatives\nRequires SEC-CFTC harmonization of rules; modifies requirements on swaps between affiliates\n\nVIII\nPayment, Clearing, and Settlement Supervision\nRepeals entire title\n\nIX\nInvestor Protections\nRepeals SEC reserve fund, certain provisions affecting credit agencies, various executive compensation requirements; exempts securities from risk retention rules that are not residential mortgages\n\nX\nBureau of Consumer Financial Protection\nModifies CFPB authority, structure, and funding; repeals Durbin Amendment\n\nXI\nFederal Reserve\nRepeals FDIC authority to provide emergency guarantees, narrows Fed\u2019s emergency lending authority\n\nXII\nAccess to Mainstream Financial Institutions\nNo changes\n\nXIII\nTARP funding\nNo changes\n\nXIV\nMortgage Reform\nModifies mortgage rules, including manufactured housing, points and fees, and portfolio lending\n\nXV\nMiscellaneous Provisions\nRepeals provisions on conflict minerals, mine safety, and resource extraction disclosure\n\nXVI\nSection 1256 Contracts\nNo Changes\n\nSource: Created by CRS.", "type": "CRS Insight", "typeId": "INSIGHTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/IN10695", "sha1": "36a3c02f307e6a3e30c0eec90ab50be2b5656f6f", "filename": "files/20170522_IN10695_36a3c02f307e6a3e30c0eec90ab50be2b5656f6f.html", "images": null } ], "topics": [] }, { "source": "EveryCRSReport.com", "id": 460782, "date": "2017-05-01", "retrieved": "2017-05-09T15:00:53.695737", "title": "The Financial CHOICE Act (H.R. 10) and the Dodd-Frank Act", "summary": "Representative Jeb Hensarling, chairman of the House Committee on Financial Services, introduced the Financial CHOICE Act of 2017(H.R. 10) on April 26, 2017. The House Committee on Financial Services has scheduled a markup of H.R. 10 on May 2, 2017. The bill is a wide-ranging proposal with 12 titles that would alter many parts of the financial regulatory system. H.R. 10 is similar to, but has several major differences from, H.R. 5983 from the 114th Congress (called the Financial CHOICE Act of 2016).\nThe next section highlights major proposals included in the bill, as introduced. It is not a comprehensive summary.\nMajor Provisions\nIn general, the changes proposed by the FCA can be divided into two categories: (1) changes to financial policies and regulations and (2) changes to the regulatory structure and rulemaking process.\nMajor policy-related changes proposed by the FCA include the following:\nLeverage Ratio\u2014allowing a banking organization to choose to be subject to a higher, 10% leverage ratio in exchange for being exempt from risk-weighted capital ratios, liquidity requirements, and other regulations.\nRegulatory Relief\u2014providing regulatory relief throughout the financial system to banks, consumers, and capital market participants, including by repealing the Volcker Rule, Durbin Amendment, fiduciary rule, and risk retention requirements for non-mortgage asset-backed securities.\nToo Big To Fail\u2014repealing the designation of systemically important financial institutions and the ability to provide federal emergency assistance during a crisis, and replacing an option for winding down systemic institutions with a new chapter in the Bankruptcy Code that is tailored to financial firms. \nH.R. 10 also includes structural and procedural changes that affect the balance between regulator independence from and accountability to Congress and the judiciary, including \nFunding\u2014subjecting regulators that currently set their own budgets to the traditional congressional appropriations process.\nRulemaking\u2014requiring regulators to perform more detailed cost-benefit analysis when issuing new rules and to use cost-benefit analysis to review existing rules, as well as requiring congressional approval for a major rule to come into effect.\nJudicial Review\u2014requiring courts to apply a heightened judicial review standard for agency actions taken by financial regulators rather than applying varying levels of deference to the agencies\u2019 interpretations of the law. \nEnforcement\u2014increasing the maximum civil penalties that could be assessed for violations of certain banking and securities laws and restraining certain agency enforcement powers.\nCFPB\u2014replacing the Consumer Financial Protection Bureau with the Consumer Law Enforcement Agency and modifying its powers, leadership, mandate, and funding.\nFederal Reserve\u2014requiring a GAO audit of the Fed, restricting emergency lending, and requiring the Fed to compare its monetary policy decisions to a mathematical rule. \nFCA Changes to the Dodd-Frank Act\nMuch of H.R. 10 is in response to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act; P.L. 111-203), a broad package of regulatory reform that initiated the largest change to the financial regulatory system since at least 1999. Many of the provisions of the FCA would modify or repeal provisions from the Dodd-Frank Act, although others would address long-standing or more recent issues.\nTable 1 provides a brief overview of selected changes that H.R. 10 makes to the Dodd-Frank Act on a title-by-title basis for the 16 titles in the Dodd-Frank Act. For more information on the content of each Title of the Dodd-Frank Act, see CRS Report R41350, The Dodd-Frank Wall Street Reform and Consumer Protection Act: Background and Summary, coordinated by Baird Webel.\nTable 1. Selected Changes to the Dodd-Frank Act in the Financial CHOICE Act of 2017\nTitle Number\nSubject of Title\nSelected Changes\n\nI\nFinancial Stability\nRepeals Office of Financial Research, SIFI designations; modifies FSOC authority, funding, procedures, and structure; exempts from enhanced regulation if 10% leverage ratio\n\nII\nOrderly Liquidation Authority\nRepeals entire title\n\nIII\nOffice of Thrift Supervision\nNo changes\n\nIV\nAdvisers to Hedge Funds\nRepeals changes to definition of accredited investor \n\nV\nInsurance\nCreates new office combining FSOC insurance expert and Federal Insurance Office\n\nVI\nRegulation of Depository Institutions\nRepeals Volcker Rule, non-bank concentration limits\n\nVII\nDerivatives\nRequires SEC-CFTC harmonization of rules; modifies requirements on swaps between affiliates\n\nVIII\nPayment, Clearing, and Settlement Supervision\nRepeals entire title\n\nIX\nInvestor Protections\nRepeals SEC reserve fund, certain provisions affecting credit agencies, various executive compensation requirements. Exempts securities from risk retention rules that are not residential mortgages\n\nX\nBureau of Consumer Financial Protection\nModifies CFPB authority, structure, and funding. Repeals Durbin Amendment\n\nXI\nFederal Reserve\nRepeals FDIC authority to provide emergency guarantees, narrows Fed\u2019s emergency lending authority\n\nXII\nAccess to Mainstream Financial Institutions\nNo changes\n\nXIII\nTARP funding\nNo changes\n\nXIV\nMortgage Reform\nModifies mortgage rules, including manufactured housing, points and fees, and portfolio lending\n\nXV\nMiscellaneous Provisions\nRepeals provisions on conflict minerals, mine safety, and resource extraction disclosure\n\nXVI\nSection 1256 Contracts\nNo Changes\n\nSource: Created by CRS.", "type": "CRS Insight", "typeId": "INSIGHTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/IN10695", "sha1": "2c380dcd5b042266452d288604c8131defac3e09", "filename": "files/20170501_IN10695_2c380dcd5b042266452d288604c8131defac3e09.html", "images": null } ], "topics": [] } ], "topics": [ "Appropriations", "CRS Insights", "Economic Policy" ] }