1. Short title This Act may be cited as the Comprehensive Regulatory Review Act . 2. Amendments to definitions of the Economic Growth and Regulatory Paperwork Reduction Act Section 2001(c) of the Economic Growth and Regulatory Paperwork Reduction Act of 1996 ( 12 U.S.C. 252 note) is amended by adding at the end the following new paragraphs: (8) Covered person The term covered person has the meaning given such term in section 1002 of the Consumer Financial Protection Act of 2010 ( 12 U.S.C. 5481 ). (9) Federal financial regulator The term Federal financial regulator means the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, the Bureau of Consumer Financial Protection, and the National Credit Union Administration Board. . 3. Ensuring a comprehensive regulatory review (a) In General Subsection (a) of section 2222 of the Economic Growth and Regulatory Paperwork Reduction Act of 1996 ( 12 U.S.C. 3311(a) ) is amended— (1) by striking 10 years and inserting 7 years ; (2) by striking each appropriate and all that follows through review and inserting the Federal financial regulators shall each conduct a comprehensive review ; (3) by striking such appropriate Federal banking agency and inserting such Federal financial regulator, jointly or otherwise, ; and (4) by inserting or covered persons after insured depository institutions . (b) Conforming Amendments Such section is amended— (1) in subsections (b), (c), (d), and (e), by striking the appropriate Federal banking agency each place that term appears and inserting the appropriate Federal financial regulator