It has cleared committee and can be brought up at any time, though no date is set.
Finance and Financial SectorAdvisory bodiesBank accounts, deposits, capitalBanking and financial institutions regulationCongressional oversightEconomic performance and conditionsFederal Reserve System
Why This Matters
The Community Bank Representation Act ensures that a member of the Federal Reserve Board focuses on community banks and their needs. It helps improve how these smaller banks are supervised and regulated.
If you use a community bank, this bill could lead to better support and oversight for your bank.
Who this affects
community bank employees · community bank customers
What changes is this bill making?
1This bill adds responsibilities for a specific member of the Federal Reserve Board.
2The member must have experience with community banks and help develop policies for them.
3The bill requires this member to report to Congress twice a year.
4It adjusts the asset threshold for community banks based on economic growth.
