This bill requires the main federal bank regulators (the OCC, the Federal Reserve, the FDIC, the NCUA, and the CFPB) to consider the risk profile and business model of different types of institutions when they write rules. Regulators must tailor rules so they limit costs, staff time, and other burdens where appropriate for the risk and business model involved. Agencies must document these tailoring efforts in notices of proposed and final rules and send annual reports to key Congressional committees. The bill also requires a limited 15-year review of certain existing regulations and revisions within three years if needed. Separately, the bill directs agencies to create a reduced (short-form) call report for banks eligible for the Community Bank Leverage Ratio for the first and third reports each year. Finally, it requires a report within 18 months on modernizing bank supervision, covering topics such as changing business models, examiner training, supervisory structures, communication, technology, and community bank needs.
If you work at or use a bank, credit union, or other covered financial institution, regulators would be required to consider how that institution’s size, activities, and risk affect any new rule. The bill also directs reduced reporting for banks that qualify for the Community Bank Leverage Ratio for certain quarterly reports. The bill text does not promise specific changes in rules, timing, or results for customers or institutions.
No publicly available information on costs or budgetary estimates is included in the bill text. The bill does require agencies to do reviews, revisions, and reports, which would involve agency work, but the text does not provide cost figures or detailed funding information.
No publicly available information.
No publicly available information.