[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6554 Introduced in House (IH)]
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119th CONGRESS
1st Session
H. R. 6554
To amend the Federal Reserve Act to specify additional responsibilities
of the member of the Board of Governors of the Federal Reserve System
who was appointed as the member with experience working in or
supervising community banks, and for other purposes.
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IN THE HOUSE OF REPRESENTATIVES
December 10, 2025
Ms. De La Cruz introduced the following bill; which was referred to the
Committee on Financial Services
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A BILL
To amend the Federal Reserve Act to specify additional responsibilities
of the member of the Board of Governors of the Federal Reserve System
who was appointed as the member with experience working in or
supervising community banks, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Community Bank Representation Act''.
SEC. 2. COMMUNITY BANK MEMBER OF THE BOARD OF GOVERNORS.
(a) Federal Reserve Act.--Section 10 of the Federal Reserve Act is
amended--
(1) in the first undesignated paragraph (12 U.S.C. 241), by
striking ``having less than $10,000,000,000 in total assets'';
(2) in the second undesignated paragraph (12 U.S.C. 242),
by inserting after ``regulation of such firms.'' the following:
``The Chairman shall select one member of the Board with
demonstrated primary experience working in or supervising
community banks to develop policy recommendations for the Board
regarding supervision and regulation of banking organizations
supervised by the Board having less than $17,000,000,000 in
total assets, and to oversee the supervision and regulation of
such banking organizations.'';
(3) in paragraph (12) (12 U.S.C. 247b)--
(A) by striking ``The Vice Chairman for
Supervision'' and inserting the following:
``(A) Vice chairman for supervision.--The Vice
Chairman for Supervision'';
(B) by striking ``and at'' and inserting ``at'';
and
(C) by adding at the end the following:
``(B) Community bank member.--The member of the
Board with demonstrated primary experience working in
or supervising community banks selected by the Chairman
to develop policy recommendations for the Board
regarding supervision and regulation of banking
organizations supervised by the Board having less than
$17,000,000,000 in total assets, and to oversee the
supervision and regulation of such banking
organizations, if different than the Vice Chairman for
Supervision, shall appear before the Committee on
Banking, Housing, and Urban Affairs of the Senate and
the Committee on Financial Services of the House of
Representatives at semi-annual hearings regarding the
efforts, activities, objectives, and plans of the Board
with respect to the conduct of supervision and
regulation of banking organizations supervised by the
Board having less than $17,000,000,000 in total
assets.''; and
(4) by adding at the end the following:
``(13) Member of the board for community banks annual
threshold adjustment.--
``(A) In general.--At the end of each year for
which the nominal gross domestic product of the United
States increases (a `covered year'), the Board shall
adjust each dollar figure described in the second
undesignated paragraph of this section, paragraph
(12)(B) of this section, and section 1004(a)(3) of the
Federal Financial Institutions Examination Council Act
of 1978 by a percentage equal to the percentage
increase (if any) between--
``(i) the nominal gross domestic product of
the United States for the year, during the
preceding 5 years, with respect to which the
nominal gross domestic product of the United
States was the highest; and
``(ii) the nominal gross domestic product
of the United States for the covered year.
``(B) Determination of gdp.--In this paragraph, the
Board shall use nominal gross domestic product
statistics determined by the Bureau of Economic
Analysis.''.
(b) Federal Financial Institutions Examination Council Act of
1978.--Section 1004(a)(3) of the Federal Financial Institutions
Examination Council Act of 1978 (12 U.S.C. 3303(a)(2)) is amended by
adding at the end the following: ``and such Governor shall consult with
the Governor with demonstrated primary experience working in or
supervising community banks selected by the Chairman of the Board to
develop policy recommendations for the Board regarding supervision and
regulation of banking organizations supervised by the Board having less
than $17,000,000,000 in total assets, and to oversee the supervision
and regulation of such banking organizations,''.
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