H.R. 6544 — REVIEW Act of 2025

This section revises the periodic regulatory review process established under the Economic Growth and Regulatory Paperwork Reduction Act of 1996 (EGRPRA) by (1) replacing references to "appropriate Federal banking agency" with "Federal financial institutions regulatory agency" (as defined in 12 U.S.C. 3302 to mean the Office of the Comptroller of the Currency, Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, Office of Thrift Supervision, and National Credit Union Administration); (2) in subsection (a), striking the limitation to agencies "represented on the Council" (i.e., the Financial Institutions Examination Council) and reducing the review frequency from once every 10 years to once every 7 years; (3) in subsection (b), restructuring public comment solicitation and requiring each agency to conduct an internal review of the cumulative impact of its regulations that assesses effects on consumers' access to financial products and services, availability to financial and nonfinancial firms, credit availability and market liquidity, benefits/costs relative to financial system safety/soundness and economic activity, quantifiable economic costs (to the extent practicable), and includes recommendations to streamline, simplify, or eliminate duplicative, outdated, or burdensome regulations; (4) in subsection (c), updating references to the new subsection (b) structure and reducing the frequency to once every 7 years (from 10); and (5) in subsection (e), requiring the Council's report to Congress to include summaries of agencies' internal review findings and address regulatory burdens identified through public comments and internal reviews. The section also adds subsection (f) cross-referencing the definition of "Federal financial institutions regulatory agency." (As background, EGRPRA requires the Council and its member agencies to review regulations applicable to financial institutions for potential burden reduction.)