An annual report for five years goes to Congress and onto a public website
What the document says“Not later than 1 year after the date of enactment of this Act, and annually for 5 years thereafter, each of the Federal financial institutions regulatory agencies shall submit to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate and publish on a public website of such agency a report”
The section requires each agency to report within a year of enactment and each year for five years after, to the House Committee on Financial Services and the Senate Committee on Banking, Housing, and Urban Affairs and on its own public website, describing what it did under the review requirement and giving any administrative or legislative recommendations on capital raising.
What the document actually says“Not later than 1 year after the date of enactment of this Act, and annually for 5 years thereafter, each of the Federal financial institutions regulatory agencies shall submit to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate and publish on a public website of such agency a report”
Each regulator must report within one year. It must report again each year for five years. The report goes to two committees and onto a public website.
The report says what the agency did to simplify the process. It may also suggest changes to Congress. Anyone can read it.
No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.