About the bill
H.R. 1116 moves federal financial regulatory agencies that regulate financial institutions away from a static or one-size-fits-all approach when implementing regulations. Specifically, the bill requires the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Consumer Financial Protection Bureau to take risk profiles and business models of institutions into account when taking regulatory actions.
The bill requires the federal financial institutions regulatory agencies to take into consideration the risk profile and business models of institutions subject to regulatory action, determine the necessity, appropriateness, and impact of applying that action to such institutions, and tailor regulatory action so as to limit the burden of regulatory compliance as befits the risk profile and business …
Sponsor and status
115th Congress (2017–2019)
This bill was introduced in a previous session of Congress and was passed by the House on March 14, 2018 but was never passed by the Senate.
Although this bill was not enacted, its provisions could have become law by being included in another bill. It is common for legislative text to be introduced concurrently in multiple bills (called companion bills), re-introduced in subsequent sessions of Congress in new bills, or added to larger bills (sometimes called omnibus bills).
85 Cosponsors (80 Republicans, 5 Democrats)
Position statements
What legislators are saying
“During Tipton Questioning, Mulvaney Encourages House to Improve Senate Banking Bill”
—
Rep. Scott Tipton [R-CO3, 2011-2020]
(Sponsor)
on Apr 11, 2018
“Cramer: house approves financial deregulatory bills”
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Sen. Kevin Cramer [R-ND]
(Co-sponsor)
on Mar 16, 2018
“Shea-Porter to House Republicans: We Cant Go Backwards on Wall Street Reform”
—
Rep. Carol Shea-Porter [D-NH1, 2017-2018]
on Mar 14, 2018
More statements at ProPublica Represent...
What stakeholders are saying
History
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Mar 2, 2016
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Earlier Version —
Ordered Reported
This activity took place on a related bill, H.R. 2896 (114th). |
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Feb 16, 2017
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Introduced
Bills and resolutions are referred to committees which debate the bill before possibly sending it on to the whole chamber. |
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Oct 11, 2017
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Considered by House Committee on Financial Services
A committee held a hearing or business meeting about the bill.
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Oct 12, 2017
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Ordered Reported
A committee has voted to issue a report to the full chamber recommending that the bill be considered further. Only about 1 in 4 bills are reported out of committee. |
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Mar 6, 2018
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Reported by House Committee on Financial Services
A committee issued a report on the bill, which often provides helpful explanatory background on the issue addressed by the bill and the bill's intentions. |
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Mar 14, 2018
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Passed House (Senate next)
The bill was passed in a vote in the House. It goes to the Senate next. |
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Jan 24, 2019
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Reintroduced Bill —
Introduced
This activity took place on a related bill, H.R. 741 (116th). |
H.R. 1116 (115th) was a bill in the United States Congress.
A bill must be passed by both the House and Senate in identical form and then be signed by the President to become law.
Bills numbers restart every two years. That means there are other bills with the number H.R. 1116. This is the one from the 115th Congress.
This bill was introduced in the 115th Congress, which met from Jan 3, 2017 to Jan 3, 2019. Legislation not passed by the end of a Congress is cleared from the books.
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GovTrack automatically collects legislative information from a variety of governmental and non-governmental sources. This page is sourced primarily from Congress.gov, the official portal of the United States Congress. Congress.gov is generally updated one day after events occur, and so legislative activity shown here may be one day behind. Data via the congress project.
