House marking up ICBA-backed pro-community bank bills

The House Financial Services Committee this week is set to take up a slate of ICBA-advocated bills in the wake of the recent ICBA Capital Summit.

Bill Details: During the markup, scheduled for 10 a.m. (Eastern time) tomorrow, May 16, the committee will consider:

• Rep. Andy Barr’s (R-Ky.) Promoting Access to Capital in Underbanked Communities Act of 2023 (H.R. 758), which would provide more regulatory, capital, and lending flexibility to facilitate the creation of de novo banks.

• The CDFI Fund Transparency Act (H.R. 3161), introduced by Reps. John Rose (R-Tenn.) and Brittany Pettersen (D-Colo.) to require annual Treasury Department testimony on CDFI Fund operations.

• Barr’s Bank Resilience and Regulatory Improvement Act (H.R. 8337), which would raise the asset exemption thresholds of five burdensome regulatory provisions.

• Barr’s Bank Supervision Appeals Improvement Act (H.R. 8264) to create a workable appeals process for bank examinations.

• The Small Bank Holding Company Relief Act of 2023 (H.R. 4346), Rep. Alex Mooney’s (R-W.Va.) bill to raise the asset threshold to qualify as Small Bank Holding Companies from $3 billion to $10 billion to help community banks raise capital.

• Barr’s Rectifying UDAAP Act (H.R. 6789), which would clarify and balance the Consumer Financial Protection Bureau’s authority to oversee unfair, deceptive, and abusive acts and practices.

• The Small Lenders Exempt from New Data and Excessive Reporting Act (H.R. 1806), Rep. French Hill’s (R-Ark.) bill to expand exemptions from the CFPB’s 1071 rule and extend the rule’s compliance deadline.

• The Bank Loan Privacy Act (H.R. 1810) from Rep. Blaine Luetkemeyer (R-Mo.), which would require the CFPB to conduct a rulemaking on financial institution and credit applicant data it plans to publish under the 1071 rule.

ICBA Advocacy: In a letter to the committee, ICBA urged lawmakers to vote to advance the full slate of pro-community bank bills.

Capital Summit: The markup follows the recent ICBA Capital Summit, during which community bankers gathered in the nation’s capital for in-person meetings with congressional offices. More than 50 new co-sponsors have joined ICBA-advocated bills following the summit.

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