Congress Would Require a Fed Board Member to Lead Oversight of Smaller Banks Under $17 Billion
How this policy affects specific groups of people
Placed on the Union Calendar, Calendar No. 458.
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. 119-533.
Ordered to be Reported (Amended) by the Yeas and Nays: 29 - 22.
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
Committee Consideration and Mark-up Session Held
No votes have been recorded for this legislation yet.
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.

ICBA urges House Financial Services Committee members to advance H.R. 6554, the Community Bank Representation Act, among other community-bank-focused 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.
Document Type
Congressional Bill
Official Title
Community Bank Representation Act
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