SMART Act of 2025
Congress targets fewer, combined exams for well-rated banks and credit unions under $6B in assets
Stalled
No legislative action in over 90 days.
Legislative Progress
Key Points
- Congress would let well-managed, well-capitalized banks and credit unions with $6 billion or less in assets get a lighter exam schedule.
- After a full, on-site exam, the next exam would be limited in scope, unless the regulator thinks a full exam is needed.
- Smaller institutions could ask regulators to combine safety, consumer, and cybersecurity-related exams so they happen at the same time.
- The relief would not apply if the institution is under a formal enforcement action, and for banks it also wouldn’t apply after a change in control.
- Regulators would have to write rules within 12 months and report to Congress on exam staffing, time spent on-site, and how they’re following the new approach.
Impact Analysis
Personal Impact
How this policy affects specific groups of people
Milestones
Placed on the Union Calendar, Calendar No. 206.
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. 119-249.
Ordered to be Reported (Amended) by the Yeas and Nays: 53 - 1.
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.
Related News
6 articles
ABA expresses support for banking-related bills
ABA lists and supports H.R. 4437 (SMART Act), describing the $6B threshold, limited-scope exams following full exams, and optional combining of safety-and-soundness with consumer compliance exams.
Exam relief, anti-regulation by guidance bills set for markup
Pre-markup coverage noting H.R. 4437 would allow combined exams and alternating limited-scope, off-site exams for well-managed, well-capitalized credit unions under $6B in assets.
House Financial Services Committee advances 4 credit union-backed bills
Recap of committee action stating H.R. 4437 passed 53-1 and would streamline exams via combined exams and alternating limited-scope, off-site exams for qualifying institutions under $6B.
Source Information
Document Type
Congressional Bill
Official Title
SMART Act of 2025
Data Sources
Sponsor
Cosponsors
(1)Analysis generated by AI. Always verify with official sources.