115 HR 4725 RH: Community Bank Reporting Relief Act U.S. House of Representatives 2017-12-21 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

IBUnion Calendar No. 437115th CONGRESS2d SessionH. R. 4725[Report No. 115–577]IN THE HOUSE OF REPRESENTATIVESDecember 21, 2017Mr. Hultgren (for himself and Mr. Barr) introduced the following bill; which was referred to the Committee on Financial ServicesFebruary 23, 2018Additional sponsors: Ms. Sewell of Alabama and Mr. MesserFebruary 23, 2018Committed to the Committee of the Whole House on the State of the Union and ordered to be printedA BILLTo amend the Federal Deposit Insurance Act to require short form call reports for certain depository institutions.

1.

Short title

This Act may be cited as the Community Bank Reporting Relief Act.

2.

Short form call reports

Section 7(a) of the Federal Deposit Insurance Act (12 U.S.C. 1817(a)) is amended by adding at the end the following: (12)

Short form reporting

(A)

In general

The appropriate Federal banking agencies shall issue regulations that allow for a reduced reporting requirement for a covered depository institution when the institution makes the first and third report of condition for a year, as required under paragraph (3). (B)

Definition

In this paragraph, the term covered depository institution means an insured depository institution that— (i)has less than $5,000,000,000 in total consolidated assets; and (ii)satisfies such other criteria as the appropriate Federal banking agencies determine appropriate..

February 23, 2018Committed to the Committee of the Whole House on the State of the Union and ordered to be printed