S.1284 - Community Bank Relief Act115th Congress (2017-2018) |
|Sponsor:||Sen. Hatch, Orrin G. [R-UT] (Introduced 05/25/2017)|
|Committees:||Senate - Banking, Housing, and Urban Affairs|
|Latest Action:||Senate - 05/25/2017 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
- Passed Senate
- Passed House
- To President
- Became Law
Summary: S.1284 — 115th Congress (2017-2018)All Information (Except Text)
Introduced in Senate (05/25/2017)
Community Bank Relief Act
This bill directs the Federal Reserve Board to increase, from $1 billion to $5 billion, the consolidated asset threshold (i.e., permissible debt level) for a bank holding company or savings and loan holding company that: (1) is not engaged in significant nonbanking activities; (2) does not conduct significant off-balance-sheet activities; and (3) does not have a material amount of debt or equity securities, other than trust-preferred securities, outstanding.
If warranted for supervisory purposes, the Federal Reserve Board may exclude a company from this threshold increase.