Bill > HR7056

This bill, titled the "Community Bank Regulatory Tailoring Act," aims to update and adjust various monetary thresholds in existing financial regulations to account for inflation and economic growth, specifically by referencing increases in the current-dollar United States Gross Domestic Product (GDP). It amends several key pieces of legislation, including the Bank Holding Company Act of 1956, the Community Reinvestment Act of 1977, the Depository Institution Management Interlocks Act, the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Federal Credit Union Act, the Federal Deposit Insurance Act, the Federal Home Loan Bank Act, the Federal Reserve Act, the Home Mortgage Disclosure Act of 1975, the Home Owners’ Loan Act, the International Lending Supervision Act of 1983, the Real Estate Settlement Procedures Act of 1974, the Revised Statutes of the United States, and the Truth in Lending Act, by significantly increasing the dollar amounts associated with various regulatory requirements and exemptions. Furthermore, the bill mandates a system for periodic adjustments to these thresholds every five years, starting in 2031, to ensure they continue to reflect economic changes, with the Board of Governors of the Federal Reserve System responsible for calculating and publishing these updated amounts.

Business and Industry

https://www.congress.gov/bill/119th-congress/house-bill/7056/all-info