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H.R. 3913 (113th): To amend the Bank Holding Company Act of 1956 to require agencies to make considerations relating to the promotion of efficiency, competition, and capital formation before issuing or modifying certain regulations.


The text of the bill below is as of Jan 16, 2014 (Introduced). The bill was not enacted into law.


I

113th CONGRESS

2d Session

H. R. 3913

IN THE HOUSE OF REPRESENTATIVES

January 16, 2014

introduced the following bill; which was referred to the Committee on Financial Services

A BILL

To amend the Bank Holding Company Act of 1956 to require agencies to make considerations relating to the promotion of efficiency, competition, and capital formation before issuing or modifying certain regulations.

1.

Rulemaking considerations

Section 13 of the Bank Holding Company Act of 1956 ( 12 U.S.C. 1851 ) is amended by adding at the end the following:

(i)

Consideration of Promotion of Efficiency, Competition, and Capital Formation

In issuing or modifying any regulation under this section, the appropriate Federal banking agencies, the Commodity Futures Trading Commission, and the Securities and Exchange Commission

(1)

shall consider whether the regulation is necessary or appropriate in the public interest;

(2)

shall consider whether the regulation will promote efficiency, competition, and capital formation;

(3)

shall consider, among other matters, the impact the regulation would have on competition;

(4)

may not adopt the regulation if it would impose a burden on competition not necessary or appropriate in furtherance of the purposes of this section; and

(5)

shall include in the statement of basis and purpose incorporated in the regulation adopted under this section, the reasons for the determination under paragraph (4) that any burden on competition imposed by the regulation is necessary or appropriate in furtherance of the purposes of this section.

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