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Congress·In Progress·3 months ago

Congress Would Require a Fed Board Member to Lead Oversight of Smaller Banks Under $17 Billion

Also known as: Community Bank Representation Act

Impacts

Mixed Impacts(4)
Small Business Owner
Neutral
Gig Worker
Neutral
Farmer Rancher
Neutral
Federal Employee
Neutral

Key Points

  • Makes the Federal Reserve Chair pick a Board member with community bank experience to lead work on smaller-bank oversight.
  • Applies to banks the Federal Reserve supervises with less than $17 billion in total assets, replacing an older $10 billion cutoff.
  • Requires that community-bank-focused Board member to report to Congress twice a year on plans and results for supervising smaller banks.
  • Automatically raises the $17 billion cutoff over time when the U.S. economy grows, so the definition keeps up with inflation and growth.
  • Adds a requirement for coordination with another federal bank oversight group so community bank concerns are included in joint decisions.
EconomyConsumer Protection

Milestones

3 milestones5 actions
Dec 17, 2025House

Ordered to be Reported (Amended) by the Yeas and Nays: 29 - 22.

Dec 17, 2025House

Committee Consideration and Mark-up Session Held

Dec 16, 2025House

Committee Consideration and Mark-up Session Held

Dec 10, 2025House

Referred to the House Committee on Financial Services.

Dec 10, 2025

Introduced in House

What Happens Next

Projected impacts based on AI analysis

Soon after the law takes effect

Federal Reserve Chair selects (or confirms) a Board member as the community-bank-focused Governor with the new duties

Creates a clear “point person” for supervision and regulation policy affecting banks under the $17B threshold, which can shape future guidance used in bank exams

Within months after selection

The designated Governor begins developing policy recommendations and overseeing supervision for banks under the $17B threshold

Community banks may see updated exam priorities or guidance that better matches how smaller banks operate, which can indirectly affect local lending

Twice per year after the law takes effect

If the designated community-bank Governor is different from the Vice Chair for Supervision, they appear at semi-annual congressional hearings

More public accountability: Congress and the public hear updates focused specifically on how smaller banks are being supervised

Related News

4 articles
American Bankers Association (ABA)·3 months ago

Memo to HFSC: Views on Legislation for the December 16 – 17, 2025, Full Committee Markup

ABA memo includes a section on H.R. 6554 (Community Bank Representation Act), describing expanded community-bank role on the Fed Board and the <$17B threshold indexed to nominal GDP.

CR+
Independent Community Bankers of America (ICBA)·3 months ago

Letter to House Leaders Ahead of Markup of ICBA-Supported Bills

ICBA urges House Financial Services Committee members to advance H.R. 6554, the Community Bank Representation Act, among other community-bank-focused bills.

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Independent Community Bankers of America (ICBA)·3 months ago

House panel advances five ICBA-supported bills

Covers House Financial Services Committee action advancing multiple bills; specifically notes H.R. 6554 would raise the asset threshold for the community bank seat on the Fed Board.

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Source Information

Document Type

Congressional Bill

Official Title

Community Bank Representation Act

Bill NumberHR 6554
Congress119th Congress
ChamberHouse of Representatives
Latest ActionOrdered to be Reported (Amended) by the Yeas and Nays: 29 - 22.

Sponsor

Cosponsors

(3)
R: 3

Analysis generated by AI. While we strive for accuracy, this should not be considered legal or professional advice. Always verify information with official government sources.