Congress·Reported·H.R. 6554

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

Community Bank Representation Act

3 months ago·View on Congress.gov

Legislative Progress

House

Senate

President

Law

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

Impact Analysis

Personal Impact

How this policy affects specific groups of people

Mixed Impacts(4)

Small Business Owner

Neutral

Gig Worker

Neutral

Farmer Rancher

Neutral

Federal Employee

Neutral

Milestones

3 milestones7 actions

Feb 25, 2026House

Placed on the Union Calendar, Calendar No. 458.

Feb 25, 2026House

Reported (Amended) by the Committee on Financial Services. H. Rept. 119-533.

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

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