Vote Smart's Synopsis:

Vote to pass a bill that limits and amends banking regulations, including those regarding institution formation, supervision by federal financial regulators, and bank merger requirements.

Highlights:

• Limits and otherwise modifies banking regulations, including those regarding institution formation, supervision by federal financial regulators, and bank merger requirements (Title 1-8).

• Specifies that, under the bill, new banks have a three-year phase-in period to meet certain capital requirements (Title 1).

• Reduces the leverage ratio for certain rural community banks (Title 2).

• Requires financial regulators to tailor regulatory actions to limit burdens on financial institutions and consider the institutions' risk profiles and business models, and review their regulations more frequently and expand the scope of these reviews (Title 2-5).

• Limits requirements regarding bank mergers, for example, by allowing financial regulators to approve certain bank mergers without considering if the merger is noncompetitive or monopolistic (Title 6).

• Increases the dollar asset thresholds for various fees, reporting requirements, and other regulatory requirements so that more financial companies and banks are exempt from these requirements (Title 6).

• Increases the total asset threshold above which financial holding companies need Federal Reserve Board approval to acquire a company, thereby allowing for more acquisitions without board approval (Title. 7).

• Increases certain asset thresholds so as to allow additional small bank holding companies to operate with higher debt levels and additional small banks to qualify for a longer examination cycle (Title 2-3).

• Authorizes flexibilities regarding the use of reciprocal deposits, the resolution of failed banks, and other regulated activities (Title 8).

Full Bill Text

Full Bill Text