ICBA called on members of the House of Representatives to vote to pass legislation allowing more community bank and thrift holding companies to raise capital.
Introduced by Rep. Mia Love (R-Utah), Josh Gottheimer (D-N.J.) and Gregory Meeks (D-N.Y.), the Small Bank Holding Company Relief Act (H.R. 4771) would raise the Federal Reserve’s Small Bank Holding Company Policy Statement asset threshold from $1 billion to $3 billion.
Following a procedural vote on Tuesday, the legislation is expected to come to a floor vote next week.
Identical language, which is inspired by ICBA’s Plan for Prosperity regulatory relief platform, is included in the bipartisan S. 2155 awaiting a Senate vote.
Read ICBA Letter