Small Bank Holding Company Relief Act
Banking: Raising the Size Limit for Small Bank Rules
This bill has been approved by the House Financial Services Committee and is now waiting for a vote by the full House of Representatives. It is currently placed on the Union Calendar, which means it is ready for further action. The bill is actively moving through the legislative process.
Legislative Progress
The bill has moved out of committee with several sponsors, but it still needs to pass the full House and Senate where banking rules are often debated heavily.
Key Points
- This bill changes how the government defines a small bank. It tells the Federal Reserve to raise the size limit for companies that own banks to $25 billion in total assets.
- Banks that fall under this new limit would follow simpler rules regarding debt and cash reserves. This is intended to help mid-sized banks compete with the very largest national banks.
- By raising the limit, more banks can use easier accounting and reporting methods. Supporters believe this allows local banks to spend more time lending to their communities and less time on paperwork.
- The Federal Reserve would have about six months to update its official policy once the bill becomes law.
- While this helps smaller banks, some critics argue that letting larger institutions follow simpler rules could lead to financial risks if those banks fail.
Impact Analysis
Govbase has not yet run an impact analysis on this legislation.
Milestones
Placed on the Union Calendar, Calendar No. 165.
The bill is now on the schedule for the full chamber to consider. It's in line for debate and a vote.
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-202.
Ordered to be Reported (Amended) by the Yeas and Nays: 30 - 20.
The committee approved this bill and is sending it to the full chamber for a vote. This is a significant step — most bills never get this far.
Committee Consideration and Mark-up Session Held
Referred to the House Committee on Financial Services.
Votes
No votes have been recorded for this legislation yet.
News
No related news coverage found for this legislation yet.
Source Information
Document Type
Congressional Bill
Official Title
Small Bank Holding Company Relief Act
Data Sources
Sponsor
Cosponsors
(6)Analysis generated by AI. Always verify with official sources.