REVIEW Act of 2025

This bill, known as the REVIEW Act of 2025, significantly amends the Economic Growth and Regulatory Paperwork Reduction Act of 1996. It expands the scope of regulatory review from "appropriate Federal banking agencies" to all Federal financial institutions regulatory agencies , ensuring a broader examination of financial regulations. The legislation also mandates that these comprehensive reviews occur more frequently, changing the requirement from once every ten years to once every five years . A key provision introduces a new requirement for each agency to conduct an internal review of the cumulative impact of its regulations. These internal reviews must assess the effects on consumers' access to financial products, the availability of services to financial and nonfinancial firms, and the impact on credit availability and financial market liquidity. Furthermore, agencies are required to quantify economic costs where practicable and provide recommendations to streamline, simplify, or eliminate duplicative, outdated, or unnecessarily burdensome regulations. The findings from these internal reviews must then be included in the Council's report to Congress.