Summary: S.1233 — 116th Congress (2019-2020)All Information (Except Text)

There is one summary for S.1233. Bill summaries are authored by CRS.

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Introduced in Senate (04/30/2019)

Community Bank Access to Capital Act of 2019

This bill creates an exemption from internal control report attestation requirements for depository institutions with assets less than $5 billion. These institutions are also exempt from certain annual reports on financial condition and management.

The Securities and Exchange Commission must revise Regulation D (which exempts certain offerings from securities registration requirements) to (1) raise the limit on the number of purchasers of securities, and (2) include a person's primary residence as an asset used in determining whether a person is an accredited investor eligible to participate in these offerings.