Number: RS21552
Title: Financial Services Regulatory Relief Act of 2003 (H.R. 1375): Credit Union Provisions
Authors: Pauline H. Smale, Government and Finance Division 
Abstract: On March 18, 2003, the House passed omnibus regulatory relief legislation (H.R. 1375) for insured depository financial institutions. The bill would alter or eliminate statutory banking provisions considered outdated, unnecessary, or ineffective in an effort to lesson the overall burden of compliance. Another goal of this legislation is to counterbalance the additional regulatory burdens being placed on banks and thrifts by the anti-money laundering and anti-terrorist financing provisions of the 2001 USA Patriot Act.
Pages: 4
Date: Updated March 23, 2004