Boosting Local Banks and Reducing Regulatory Burdens for Community Lenders
This act reduces regulations and capital requirements for community and rural banks to encourage new bank formation and improve local credit access. It also raises the asset thresholds for strict federal oversight, allowing medium-sized banks to operate with more flexibility and fewer bureaucratic hurdles.
Key points
Easier capital standards and reduced reporting requirements for small and rural banks.
Increases the asset threshold for enhanced federal regulations from $250 billion to $370 billion.
Streamlines the merger process for banks with under $10 billion in assets to encourage competition.
Establishes an independent office to review and appeal bank examination results.
Introduced
Citizen Poll