S.1233 - Community Bank Access to Capital Act of 2019116th Congress (2019-2020)
|Sponsor:||Sen. Rounds, Mike [R-SD] (Introduced 04/30/2019)|
|Committees:||Senate - Banking, Housing, and Urban Affairs|
|Latest Action:||Senate - 04/30/2019 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (All Actions)|
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Summary: S.1233 — 116th Congress (2019-2020)All Information (Except Text)
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.