Community Bank Preservation Act of 2014

Community Bank Preservation Act of 2014 - Amends the Federal Reserve Act to require that membership on the Board of Governors of the Federal Reserve include at least one person with demonstrated experience working in or supervising community banks having less than $10 billion total assets.

[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[S. 2252 Introduced in Senate (IS)]

113th CONGRESS
  2d Session
                                S. 2252

 To reaffirm the importance of community banking and community banking 
  regulatory experience on the Federal Reserve Board of Governors, to 
ensure that the Federal Reserve Board of Governors has a member who has 
     previous experience in community banking or community banking 
                  supervision, and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             April 10, 2014

  Mr. Vitter (for himself, Ms. Heitkamp, and Mr. Kirk) introduced the 
 following bill; which was read twice and referred to the Committee on 
                  Banking, Housing, and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
 To reaffirm the importance of community banking and community banking 
  regulatory experience on the Federal Reserve Board of Governors, to 
ensure that the Federal Reserve Board of Governors has a member who has 
     previous experience in community banking or community banking 
                  supervision, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Community Bank Preservation Act of 
2014''.

SEC. 2. MEMBERSHIP OF BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM.

    The first undesignated paragraph of section 10 of the Federal 
Reserve Act (12 U.S.C. 241) is amended by inserting after the second 
sentence the following: ``The Board shall at all times have as a member 
at least 1 person with demonstrated experience working in or 
supervising community banks having less than $10,000,000,000 in total 
assets.''.

SEC. 3. EFFECTIVE DATE.

    The amendment made by this Act shall take effect on the date of 
enactment of this Act and apply to appointments made on and after that 
effective date, excluding any nomination pending in the Senate on that 
date.
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