H.R.1553 - Small Bank Exam Cycle Reform Act of 2015114th Congress (2015-2016)
|Sponsor:||Rep. Tipton, Scott R. [R-CO-3] (Introduced 03/23/2015)|
|Committees:||House - Financial Services | Senate - Banking, Housing, and Urban Affairs|
|Committee Reports:||H. Rept. 114-280|
|Latest Action:||Senate - 10/07/2015 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (All Actions)|
|Roll Call Votes:||There has been 1 roll call vote|
This bill has the status Passed House
Here are the steps for Status of Legislation:
- Passed House
Summary: H.R.1553 — 114th Congress (2015-2016)All Information (Except Text)
Passed House without amendment (10/06/2015)
(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)
Small Bank Exam Cycle Reform Act of 2015
(Sec. 2) This bill amends the Federal Deposit Insurance Act to increase from $500 million to $1 billion the asset size of small insured depository institutions eligible for 18-month on-site examination cycles.
Such an institution is also qualified for the 18-month cycle if its total assets are at most $200 million (currently $100 million) and the most recent examination found its composite condition to be good rather than outstanding.
A federal banking agency is granted discretion to increase this assets ceiling amount from $200 million to $1 billion (currently from $100 million to $500 million) if that greater asset size would be consistent with the principles of safety and soundness.