House to vote on three ICBA-supported regulatory relief bills this week

Three ICBA-backed regulatory relief bills are expected to receive individual votes on the House floor this week.

Details: The House will vote on:

• The Smart Act (H.R. 4437), which provides well-managed and well-capitalized financial institutions under $6 billion in assets with regulatory relief, such as alternating limited-scope examinations and a combined safety-and-soundness exam and consumer compliance exam.

• The TRUST Act (H.R. 4478), which raises the consolidated asset threshold from $3 billion to $6 billion for banks to qualify for an 18-month examination cycle.

• The Advancing the Mentor-Protégé Program for Small Financial Institutions Act (H.R. 3709), which would establish a Treasury Financial Agent program enabling partnerships between Minority Depository Institutions, rural community banks, and other financial institutions.

More: The bills will be considered under suspension of the rules. The bills were also included in Title VI of the House-passed 21st Century ROAD to Housing Act (H.R. 6644).