TRUST Act of 2026: Reducing Audit Frequency for Well-Managed Community Banks
This bill allows well-managed banks with assets under $6 billion to be audited by federal agencies once every 18 months instead of more frequently. This aims to reduce the regulatory burden on smaller financial institutions.
Key points
Increases the asset limit for less frequent bank exams from $3 billion to $6 billion.
Extends the mandatory audit cycle to 18 months for qualifying healthy banks.
Reduces administrative costs for community banks, potentially allowing them to focus more on local lending.
Status:
Introduced
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