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119-hr-6544119th CongressWALLET

REVIEW Act of 2025

Sponsored By: Representative Timmons, William R. [R-SC-4]

In Committee

Summary

This bill would require a formal seven-year cumulative impact review of financial regulations across all Federal financial institutions regulatory agencies. It shortens the review cycle from once every 10 years to once every 7 years, expands which agencies are included, and demands data-informed assessments with cost estimates where practicable.

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  • Consumers and households: Agencies would have to evaluate and report how regulations affect consumers' access to financial products and services, creating a documented account of consumer impacts.
  • Businesses and markets: Regulators would assess availability of financial products to financial and nonfinancial firms, examine effects on credit availability and market liquidity, and, where practicable, quantify direct and indirect economic costs.
  • Regulators and rulebooks: Each agency must conduct internal cumulative-impact reviews, summarize findings and determinations, incorporate public comments about regulatory burdens, and include recommendations to streamline, simplify, or eliminate duplicative, outdated, or unnecessarily burdensome regulations.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 0 benefits, 0 costs, 1 mixed.

More frequent reviews by financial regulators

If enacted, federal financial regulators would review their rules every 7 years instead of every 10 years. Each agency would run an internal cumulative-impact review that looks at effects on consumers’ access to financial products, availability for firms, credit availability, and market liquidity. Reviews would weigh benefits and costs for safety and the overall economy, try to quantify direct and indirect costs where practicable, and include recommendations to streamline or cut duplicative or burdensome rules. Agencies would solicit public comment and the Council’s report would include each agency’s summary of findings and the regulatory burdens identified. The bill would define which agencies are covered using the Federal Financial Institutions Examination Council Act definition.

Sponsors & CoSponsors

Sponsor

Timmons, William R. [R-SC-4]

SC • R

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

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