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House Bill 4725
115th Congress(2017-2018)
Community Bank Reporting Relief Act
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Passed House on Mar 6, 2018
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H. R. 4725 (Referred-in-Senate)


115th CONGRESS
2d Session
H. R. 4725

IN THE SENATE OF THE UNITED STATES

March 7, 2018

Received; read twice and referred to the Committee on Banking, Housing, and Urban Affairs

AN ACT

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.”.

Passed the House of Representatives March 6, 2018.

    Attest:karen l. haas,   
    Clerk.