H. R. 2266
IN THE HOUSE OF REPRESENTATIVES
May 6, 2009
Mr. Frank of Massachusetts introduced the following bill; which was referred to the Committee on Financial Services
To delay for 1 year the date for compliance with certain regulations prescribed by the Secretary of the Treasury and the Board of Governors of the Federal Reserve System under subchapter IV of chapter 53 of title 31, United States Code.
This Act may be cited as the
Reasonable Prudence in Regulation
Delay in application of regulation
Notwithstanding any provision of part 233 of title 12, Code of Federal Regulations (also known as Regulation GG) or of part 132 of title 31, Code of Federal Regulations, jointly prescribed by the Board of Governors of the Federal Reserve System and the Secretary of the Treasury, respectively (to implement subchapter IV of chapter 53 of title 31, United States Code), the date by which compliance with such regulations is required shall be extended from December 1, 2009, to December 1, 2010.