Requires federal financial regulators to review how the combined effect of their rules changes consumer access to financial products, credit availability, and the safety of the financial system, and shortens the regulatory review cycle under existing law from once every 10 years to once every 7.

• Requires each federal financial institutions regulatory agency to conduct an internal review of the cumulative impact of its regulations on consumer access, credit availability, and financial market liquidity
• Requires the internal reviews to recommend ways to streamline, simplify, or eliminate duplicative, outdated, and unnecessarily burdensome regulations
• Amends Section 2222 of the Economic Growth and Regulatory Paperwork Reduction Act of 1996 to change the review cycle from once every 10 years to once every 7 years
• Adds a summary of the internal review findings to the Financial Institutions Examination Council's report under the same section

• Financial Services Committee (House)

Finance and Financial Sector