Community Bank Reporting Relief Act

Community Bank Reporting Relief Act

(Sec. 2) This bill amends the Federal Deposit Insurance Act to require federal banking agencies to issue regulations allowing certain small depository institutions to satisfy reporting requirements with a reduced Report of Condition and Income (i.e., call report).

[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4725 Introduced in House (IH)]

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115th CONGRESS
  1st Session
                                H. R. 4725

 To amend the Federal Deposit Insurance Act to require short form call 
              reports for certain depository institutions.


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                    IN THE HOUSE OF REPRESENTATIVES

                           December 21, 2017

Mr. Hultgren (for himself and Mr. Barr) introduced the following bill; 
       which was referred to the Committee on Financial Services

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                                 A BILL


 
 To amend the Federal Deposit Insurance Act to require short form call 
              reports for certain depository institutions.

    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 Reporting Relief 
Act''.

SEC. 2. SHORT FORM CALL REPORTS.

    Section 7(a) of the Federal Deposit Insurance Act (12 U.S.C. 
1817(a)) is amended by adding at the end the following:
            ``(12) Short form reporting.--
                    ``(A) In general.--The appropriate Federal banking 
                agencies shall issue regulations that allow for a 
                reduced reporting requirement for a covered depository 
                institution when the institution makes the first and 
                third report of condition for a year, as required under 
                paragraph (3).
                    ``(B) Definition.--In this paragraph, the term 
                `covered depository institution' means an insured 
                depository institution that--
                            ``(i) has less than $5,000,000,000 in total 
                        consolidated assets; and
                            ``(ii) satisfies such other criteria as the 
                        appropriate Federal banking agencies determine 
                        appropriate.''.
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