Bill > S3849

This bill, titled the "Community Bank Relief Act," amends the Electronic Fund Transfer Act, a law that governs electronic money transfers, to adjust certain financial thresholds for inflation. Specifically, it mandates that the amount referred to in a particular section of the Act (Section 921(a)(6)) will be adjusted annually based on the Consumer Price Index (CPI), which measures changes in the prices of a basket of consumer goods and services. The first adjustment, to occur by July 1, 2026, will be based on the difference between the CPI in October 2025 and October 2009, and subsequent annual adjustments will be made by January 15th each year, reflecting the CPI increase from the previous October. This process ensures that the thresholds remain relevant in light of changing economic conditions.

Housing and Urban Affairs

https://www.congress.gov/bill/119th-congress/senate-bill/3849/all-info