Last week, we told you about the introduction by Rep. Tim Moore of H.R. 4478 – the TRUST Act of 2025 – that seeks to raise the asset limit for community banks to qualify for a longer 18-month examination cycle from $3 billion to $6 billion. Shortly before the House went into recess, the House Financial Services Committee advanced the bill by a vote of 48-0.

The House Financial Services Committee also advanced a number of other bills of note:

• H.R. 3390, the Bringing the Discount Window into the 21st Century Act to require the Fed to review its discount window lending programs, develop a remediation plan to address deficiencies and enhance the effectiveness of the programs.
• H.R. 3446, the FDIC Board Accountability Act to revise the membership requirements for the FDIC board by making the CFPB director a nonvoting member of the board and mandating that one member have state bank supervisory experience and that one member have primary experience working in or supervising depository institutions with less than $10 billion in total assets.
• H.R. 4437, the Supervisory Modifications for Appropriate Risk-Based Testing Act of 2025 (SMART Act) to increase the total asset threshold under which institutions qualify for a limited-scope examination directly after an on-site, full-scope exam from $3 billion to $6 billion. It also requires that if an institution is otherwise subject to a separate safety and soundness exam and a consumer compliance exam, at the request of the institution, the regulatory agency shall combine and carry out the exams at the same time.
• H.R. 4460, the Stop Agency Fiat Enforcement of Guidance (SAFE Guidance) Act to require each financial regulator to include a “guidance clarity statement” with any guidance issued by that agency. The guidance clarity statement would need to appear on the first page of the document and state: “This guidance does not have the force and effect of law and therefore does not establish any rights or obligations for any person and is not binding on the agency or the public. If this guidance suggests how regulated entities may comply with applicable statutes or regulations, noncompliance with this guidance does not conclusively establish a violation of applicable law.”.
• H.R. 4544, the American Access to Banking Act to encourage the formation of de novo financial institutions by directing agencies to streamline and simplify the application process.

Author: sdbrownlow

Student of Design