Community Bank Representation Act

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6554 Introduced in House (IH)]

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119th CONGRESS
  1st Session
                                H. R. 6554

To amend the Federal Reserve Act to specify additional responsibilities 
 of the member of the Board of Governors of the Federal Reserve System 
     who was appointed as the member with experience working in or 
          supervising community banks, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           December 10, 2025

Ms. De La Cruz introduced the following bill; which was referred to the 
                    Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
To amend the Federal Reserve Act to specify additional responsibilities 
 of the member of the Board of Governors of the Federal Reserve System 
     who was appointed as the member with experience working in or 
          supervising community banks, 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 Representation Act''.

SEC. 2. COMMUNITY BANK MEMBER OF THE BOARD OF GOVERNORS.

    (a) Federal Reserve Act.--Section 10 of the Federal Reserve Act is 
amended--
            (1) in the first undesignated paragraph (12 U.S.C. 241), by 
        striking ``having less than $10,000,000,000 in total assets'';
            (2) in the second undesignated paragraph (12 U.S.C. 242), 
        by inserting after ``regulation of such firms.'' the following: 
        ``The Chairman shall select one member of the Board with 
        demonstrated primary experience working in or supervising 
        community banks to develop policy recommendations for the Board 
        regarding supervision and regulation of banking organizations 
        supervised by the Board having less than $17,000,000,000 in 
        total assets, and to oversee the supervision and regulation of 
        such banking organizations.'';
            (3) in paragraph (12) (12 U.S.C. 247b)--
                    (A) by striking ``The Vice Chairman for 
                Supervision'' and inserting the following:
                    ``(A) Vice chairman for supervision.--The Vice 
                Chairman for Supervision'';
                    (B) by striking ``and at'' and inserting ``at''; 
                and
                    (C) by adding at the end the following:
                    ``(B) Community bank member.--The member of the 
                Board with demonstrated primary experience working in 
                or supervising community banks selected by the Chairman 
                to develop policy recommendations for the Board 
                regarding supervision and regulation of banking 
                organizations supervised by the Board having less than 
                $17,000,000,000 in total assets, and to oversee the 
                supervision and regulation of such banking 
                organizations, if different than the Vice Chairman for 
                Supervision, shall appear before the Committee on 
                Banking, Housing, and Urban Affairs of the Senate and 
                the Committee on Financial Services of the House of 
                Representatives at semi-annual hearings regarding the 
                efforts, activities, objectives, and plans of the Board 
                with respect to the conduct of supervision and 
                regulation of banking organizations supervised by the 
                Board having less than $17,000,000,000 in total 
                assets.''; and
            (4) by adding at the end the following:
            ``(13) Member of the board for community banks annual 
        threshold adjustment.--
                    ``(A) In general.--At the end of each year for 
                which the nominal gross domestic product of the United 
                States increases (a `covered year'), the Board shall 
                adjust each dollar figure described in the second 
                undesignated paragraph of this section, paragraph 
                (12)(B) of this section, and section 1004(a)(3) of the 
                Federal Financial Institutions Examination Council Act 
                of 1978 by a percentage equal to the percentage 
                increase (if any) between--
                            ``(i) the nominal gross domestic product of 
                        the United States for the year, during the 
                        preceding 5 years, with respect to which the 
                        nominal gross domestic product of the United 
                        States was the highest; and
                            ``(ii) the nominal gross domestic product 
                        of the United States for the covered year.
                    ``(B) Determination of gdp.--In this paragraph, the 
                Board shall use nominal gross domestic product 
                statistics determined by the Bureau of Economic 
                Analysis.''.
    (b) Federal Financial Institutions Examination Council Act of 
1978.--Section 1004(a)(3) of the Federal Financial Institutions 
Examination Council Act of 1978 (12 U.S.C. 3303(a)(2)) is amended by 
adding at the end the following: ``and such Governor shall consult with 
the Governor with demonstrated primary experience working in or 
supervising community banks selected by the Chairman of the Board to 
develop policy recommendations for the Board regarding supervision and 
regulation of banking organizations supervised by the Board having less 
than $17,000,000,000 in total assets, and to oversee the supervision 
and regulation of such banking organizations,''.
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