Sen. Katie Britt (R-Ala.) introduced legislation to update asset-based thresholds in federal banking law.
Details: The Tailoring and Indexing Enhanced Regulations (TIER) Act would make a one-time adjustment to certain key statutory thresholds to reflect historical economic growth, then it would establish a process for periodically updating covered thresholds going forward.
House Bill: Britt said the TIER Act builds on the provisions included in the ICBA-supported Main Street Capital Access Act, which was passed by the House in July.