Review act of 2025
Review Act of 2025
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Overview
This bill, the Regulatory Efficiency, Verification, Itemization, and Enhanced Workflow Act of 2025 (REVIEW Act), requires federal financial agencies to review the regulations they’ve issued. Currently, these reviews happen every 10 years, but this bill changes that to every 5 years. The reviews will now also assess how regulations affect access to financial services, credit availability, and the overall economy, and agencies must recommend ways to simplify or eliminate outdated regulations. The National Credit Union Administration is also included in this review process.
Key provisions
- Increases the frequency of regulatory reviews from every 10 years to every 5 years.
- Expands the scope of reviews to include an assessment of the cumulative impact of regulations.
- Requires agencies to assess the effects of regulations on access to financial products and services, credit availability, and market liquidity.
- Mandates an assessment of the balance of benefits and costs of regulations for financial stability and economic activity.
- Requires agencies to quantify the economic costs of regulations.
- Includes recommendations for streamlining and simplifying regulations.
- Codifies the National Credit Union Administration’s participation in the review process.
- Requires a summary of the internal review findings to be made public.
Who is affected
- Federal financial institutions regulatory agencies
Bill text
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1 on record
Primary sponsor
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