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The House Financial Services Committee this week is set to take up a slate of ICBA-advocated bills in the wake of the recent ICBA Capital Summit.
Bill Details: During the markup, scheduled for 10 a.m. (Eastern time) tomorrow, May 16, the committee will consider:
Rep. Andy Barr’s (R-Ky.) Promoting Access to Capital in Underbanked Communities Act of 2023 (H.R. 758), which would provide more regulatory, capital, and lending flexibility to facilitate the creation of de novo banks.
The CDFI Fund Transparency Act (H.R. 3161), introduced by Reps. John Rose (R-Tenn.) and Brittany Pettersen (D-Colo.) to require annual Treasury Department testimony on CDFI Fund operations.
Barr’s Bank Resilience and Regulatory Improvement Act (H.R. 8337), which would raise the asset exemption thresholds of five burdensome regulatory provisions.
Barr’s Bank Supervision Appeals Improvement Act (H.R. 8264) to create a workable appeals process for bank examinations.
The Small Bank Holding Company Relief Act of 2023 (H.R. 4346), Rep. Alex Mooney’s (R-W.Va.) bill to raise the asset threshold to qualify as Small Bank Holding Companies from $3 billion to $10 billion to help community banks raise capital.
Barr’s Rectifying UDAAP Act (H.R. 6789), which would clarify and balance the Consumer Financial Protection Bureau’s authority to oversee unfair, deceptive, and abusive acts and practices.
The Small Lenders Exempt from New Data and Excessive Reporting Act (H.R. 1806), Rep. French Hill’s (R-Ark.) bill to expand exemptions from the CFPB’s 1071 rule and extend the rule’s compliance deadline.
The Bank Loan Privacy Act (H.R. 1810) from Rep. Blaine Luetkemeyer (R-Mo.), which would require the CFPB to conduct a rulemaking on financial institution and credit applicant data it plans to publish under the 1071 rule.
ICBA Advocacy: In a letter to the committee, ICBA urged lawmakers to vote to advance the full slate of pro-community bank bills.
Capital Summit: The markup follows the recent ICBA Capital Summit, during which community bankers gathered in the nation’s capital for in-person meetings with congressional offices. More than 50 new co-sponsors have joined ICBA-advocated bills following the summit.