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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (2)

Short Titles

Short Titles - Senate

Short Title(s) as Introduced

Community Bank Regulatory Relief Act

Official Titles

Official Titles - Senate

Official Titles as Introduced

A bill to delay the implementation date of the current expected credit losses methodology for estimating allowances for credit losses, and for other purposes.

Actions Overview (1)

Date Actions Overview
03/16/2020Introduced in Senate

All Actions (1)

Date All Actions
03/16/2020Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Action By: Senate

Cosponsors (5)

* = Original cosponsor
CosponsorDate Cosponsored
Sen. Cotton, Tom [R-AR]* 03/16/2020
Sen. Tillis, Thom [R-NC]* 03/16/2020
Sen. Moran, Jerry [R-KS]* 03/16/2020
Sen. Scott, Tim [R-SC] 03/18/2020
Sen. Loeffler, Kelly [R-GA] 03/20/2020

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Related Documents
Senate Banking, Housing, and Urban Affairs03/16/2020 Referred to

No related bill information was received for S.3502.

Latest Summary (1)

There is one summary for S.3502. View summaries

Shown Here:
Introduced in Senate (03/16/2020)

Community Bank Regulatory Relief Act

This bill delays required compliance with certain accounting standards applicable to credit losses (i.e., current expected credit losses standards, also known as CECL standards). Specifically, no agency may require a person to comply with this standard with respect to a fiscal year beginning before December 31, 2024.

Additionally, the community bank leverage ratio is set at 8% for community banks seeking to satisfy simplified capital adequacy requirements. Currently, banking agencies are required to set the rate between 8% and 10% through rulemaking.