To enhance the ability of community financial institutions to foster economic growth and serve their communities, boost small businesses, increase individual savings, and for other purposes.
Latest action · Dec 18, 2014 Became Public Law No: 113-250.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedOct 23, 2013
- Passed HouseMay 6, 2014
- Passed SenateDec 11, 2014
- To the PresidentDec 13, 2014
- Became lawDec 18, 2014
Summary
(This measure has not been amended since it was passed by the Senate on December 11, 2014. The summary of that version is repeated here.)
Directs the Board of Governors of the Federal Reserve System (Board) to publish in the Federal Register proposed revisions to the Small Bank Holding Company Policy Statement on Assessment of Financial and Managerial Factors, applying such policy to certain bank holding companies and savings and loan holding companies having pro forma consolidated assets of less than $1 billion, and which: (1) are not engaged in significant nonbanking activities either directly or through a nonbank subsidiary, (2) do not conduct significant off-balance sheet activities either directly or through a nonbank subsidiary (including securitization and asset management or administration), and (3) do not have a material amount of debt or equity securities outstanding (other than trust preferred securities) that are registered with the Securities and Exchange Commission (SEC).
Retains Board authority to exclude from such Policy Statement either a bank holding company or a savings and loan holding company, regardless of asset size, if exclusion is determined warranted for supervisory purposes.
Exempts from the leverage and risk-based capital requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act any bank holding company or savings and loan holding company having less than $1 billion in total consolidated assets that complies with the requirements of the Policy Statement.
Cosponsors 6
Members who signed on, in the order they did. Signatures ran from Oct 23, 2013 to Nov 12, 2013, with 4 there on the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-NH | Ann M. Kuster | Original | Oct 23, 2013 |
| D-IL | Mike Quigley | Original | Oct 23, 2013 |
| D-FL | Patrick Murphy | Original | Oct 23, 2013 |
| R-AR | Tom Cotton | Original | Oct 23, 2013 |
| D-TX | Marc A. Veasey | Oct 28, 2013 | |
| R-CA | Gary G. Miller | Nov 12, 2013 |
Actions 22
Everything that happened, newest first.
- Dec 18, 2014Became Public Law No: 113-250.
- Dec 18, 2014Signed by President.
- Dec 13, 2014Presented to President.
- Dec 11, 2014Measure laid before Senate by unanimous consent. (consideration: CR S6607-6608)
- Dec 11, 2014Message on Senate action sent to the House.
Related bills 2
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 2696 | A bill to require the Federal Reserve to make certain changes to the small bank holding company policy statement on assessment of financial and managerial factors, and for other purposes. | Related bill | Jul 30, 2014 |
| S 2698 | RELIEVE Act | Related bill | Sep 16, 2014 |
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 5
Each version as it was printed, newest first.
- —Enrolled Bill
- Dec 11, 2014Engrossed Amendment Senate
- May 7, 2014Referred in Senate
- May 6, 2014Engrossed in House
- Oct 23, 2013Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.