The House Financial Services Committee passed an ABA-supported community bank regulatory relief bill. By a voice vote, the committee approved H.R. 3329, a bill introduced by Rep. Blaine Luetkemeyer (R-Mo.) that would raise the Federal Reserve’s definition of a small bank or thrift holding company from $500 million to $1 billion, exempting more banks from regulatory burdens that would not materially improve safety and soundness.
Read ABA’s letter.