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, 2014Public Law 113-250
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; 4 are original cosponsors, there from 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 |
Committees 2
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Financial Services Committee | Referred Oct 23, 2013Markup Nov 14, 2013 |
| Senate | Banking, Housing, and Urban Affairs Committee | Referred May 7, 2014Discharged Dec 11, 2014 |
Actions 19
Everything that happened, newest first.
- Dec 18, 2014Signed by President.
- Dec 18, 2014Became Public Law No: 113-250.
- Dec 13, 2014Presented to President.
- Dec 11, 2014Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent.
- Dec 11, 2014Measure laid before Senate by unanimous consent. (consideration: CR S6607-6608)
- Dec 11, 2014Passed/agreed to in Senate: Passed Senate with an amendment by Unanimous Consent. (text: CR S6607)
- Dec 11, 2014Message on Senate action sent to the House.
- Dec 11, 2014Mrs. Wagner asked unanimous consent that the House agree to the Senate amendment.
- Dec 11, 2014Resolving differences -- House actions: On motion that the House agree to the Senate amendment Agreed to without objection. (consideration: CR H10303-10304)
- Dec 11, 2014Motion to reconsider laid on the table Agreed to without objection. (text as House agreed to Senate amendment: CR H10303-10304)
- May 7, 2014Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- May 6, 2014Mrs. Capito moved to suspend the rules and pass the bill.
- May 6, 2014Considered under suspension of the rules. (consideration: CR H3424-3426)
- May 6, 2014DEBATE - The House proceeded with forty minutes of debate on H.R. 3329.
- May 6, 2014Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H3424)
- Nov 14, 2013Committee Consideration and Mark-up Session Held.
- Nov 14, 2013Ordered to be Reported by Voice Vote.
- Oct 23, 2013Introduced in House
- Oct 23, 2013Referred to the House Committee on Financial Services.
In the Congressional Record 2
Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.
| Where | In the Record | Members | Date |
|---|---|---|---|
| House · Senate | Debate and remarks H10303, S6607Text printed H10303Amendments H10303, S6607, S6635 | Angus S. King Jr. I-ME (amendment), Ann Wagner R-MO, Jerry Moran R-KS (amendment), Mark R. Warner D-VA (amendment), Richard J. Durbin D-IL | Dec 11, 2014 |
| House | Debate and remarks H3424–H3426Text printed H3424 | Blaine Luetkemeyer R-MO, Patrick Murphy D-FL, Shelley Moore Capito R-WV | May 6, 2014 |
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Congressional Budget Office cost estimate
- Feb 24, 2014H.R. 3329, a bill 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 purposesAs ordered reported by the House Committee on Financial Services on November 14, 2013
Constitutional authority
The sponsor’s statement, as printed in the page H6769.
Printed hearings 2
Hearings whose printed record names this bill, newest first: hearings on it, and wider hearings where it came up.
| Number | Hearing | Committee | Held |
|---|---|---|---|
| S. Hrg. 113-535 | EXAMINING THE STATE OF SMALL DEPOSITORY INSTITUTIONS284 pages | Banking, Housing, and Urban Affairs Committee | Sep 16, 2014 |
| Serial No. 113-045 | REGULATORY LANDSCAPE: BURDENS ON SMALL FINANCIAL INSTITUTIONS82 pages | Small Business Committee | Dec 3, 2013 |
CRS reports 7
Congressional Research Service work that CRS links to this bill or the law it became, newest first.
Cite it 7
Products on other subjects that cite it, usually among other measures.
| Product | Title | Kind | Published |
|---|---|---|---|
| R40623 | Tax Havens: International Tax Avoidance and Evasion | Report | Jan 6, 2022 |
| R43568 | Corporate Expatriation, Inversions, and Mergers: Tax IssuesCorporate Expatriation, Inversions, and Mergers: Tax Issues Archived | Report | Jun 17, 2021 |
| IF10837 | Financial Reform: Small Bank Holding Company Threshold Archived | Resource | Feb 23, 2018 |
| R41350 | The Dodd-Frank Wall Street Reform and Consumer Protection Act: Background and Summary | Report | Apr 21, 2017 |
| R44035 | “Regulatory Relief” for Banking: Selected Legislation in the 114th Congress Archived | Report | Nov 23, 2016 |
Amendments 1
Amendments offered to this bill.
| Amendment | Description | Offered by | Status |
|---|---|---|---|
| SA 4093 | In the nature of a substitute. | Angus S. King Jr. I-ME | Amendment SA 4093 agreed to in Senate by Unanimous Consent. |
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 |
Titles 1
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- 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.
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; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
