Sponsors
The bill aims to reduce outdated or duplicative financial regulations and speed agency review—lowering compliance costs and improving access—but increases administrative burdens and creates a real risk that pressure to cut regulatory burdens could weaken consumer protections and financial safety.
Taxpayers and consumers: Agencies must review covered rules more frequently (every 7 years instead of 10) and the Financial Stability Oversight Council must summarize agencies' internal reviews and public comments, increasing oversight and enabling faster updates to outdated or duplicative rules.
Small-business owners and regulated firms: Removing duplicative or outdated rules can reduce compliance costs for banks and other regulated firms, which could lower fees and improve price/availability of services for customers.
Consumers and taxpayers: If agencies identify and remove rules that unnecessarily restrict product or credit availability, consumers may gain improved access to financial products and services.
Taxpayers, consumers, depositors and the financial system: Emphasizing reduction of regulatory burdens risks weakening safety-and-soundness protections and consumer safeguards—potentially increasing exposure to risky products and systemic instability if cost-cutting is prioritized over protection.
Taxpayers and small-business owners: Agencies will incur additional administrative costs to perform quantitative internal reviews, which could divert resources from supervision or lead to higher costs passed on to customers.
Financial institutions and agencies: More frequent and detailed reporting requirements increase paperwork and compliance burdens for agencies and regulated firms, creating short-term implementation costs and operational strain.
Based on analysis of 2 sections of legislative text.
Shortens federal financial rule review cycles to 7 years and requires agencies to assess cumulative regulatory impacts and recommend streamlining to the Council and Congress.
Requires federal financial regulators to review their rules more often and to analyze the cumulative effects of regulation on consumers, credit and market liquidity, costs, and economic activity. Agencies must recommend ways to streamline or eliminate duplicative or burdensome rules and the Council must include summaries of those internal reviews and public-comment-identified burdens in its report to Congress. Defines the term "Federal financial institutions regulatory agency," shortens periodic rule-review cycles from 10 to 7 years, and adds new reporting content to help Congress and stakeholders see where regulatory burdens exist and what agencies propose to change.
Introduced December 9, 2025 by William R. Timmons · Last progress December 9, 2025