ICBA urges House committee to advance reg relief bills at markup

The House Financial Services Committee today kicks off a two-day markup of various banking bills, including several ICBA-advocated regulatory reform measures.

Key Legislation: In a letter ahead of the markup—which gets underway at 10 a.m. (Eastern time)—ICBA urged committee members to advance:

• The FDIC Board Accountability Act (H.R. 3446): Introduced by Rep. Bill Huizenga (R-Mich.), the bill would require the appointment of a member of the FDIC board of directors with experience in small depository institutions.

• The Tailored Regulatory Updates for Supervisory Testing (TRUST) Act of 2025 (H.R. 4478): The bill, introduced by Reps. Tim Moore (R-N.C.) and Ritchie Torres (D-N.Y.), raises the consolidated asset threshold from $3 billion to $6 billion for banks to qualify for an 18-month examination cycle.

• The Supervisory Modifications for Appropriate Risk-based Testing (SMART) Act of 2025 (H.R. 4437): Introduced by Reps. William Timmons (R-S.C.) and Bill Foster (D-Ill.), the bill would provide well-managed and well-capitalized financial institutions under $6 billion in assets with regulatory relief, such as alternating limited-scope exams and a combined safety-and-soundness exam and consumer compliance exam.

• The Bringing the Discount Window into the 21st Century Act (H.R. 3390): Introduced by Rep. Monica De La Cruz (R-Texas), the legislation would modernize the Federal Reserve's discount window lending programs to improve its effectiveness as a tool for managing liquidity risk.

ICBA View: The regulatory reform bills align with ICBA’s “Repair, Reform, and Thrive” plan and open letter to the 119th Congress.