Regulators tout community bank relief on Capitol Hill

During testimony at a Senate Banking Committee oversight hearing, federal banking regulators said community bank regulatory relief is a top priority.

Community Bank Focus:

• Federal Reserve Vice Chair for Supervision Michelle Bowman said community banks should be subject to less stringent standards than large banks and that one of the Fed's goals is to tailor its regulatory and supervisory framework to reflect the risk that different bank business models pose.

• FDIC Chairman Travis Hill testified that his agency is evaluating potential options for implementing additional tailoring and streamlining for small banks with a history of being highly rated and well-capitalized.

• Comptroller of the Currency Jonathan Gould said the OCC is advancing targeted burden relief for community banks and evaluating opportunities to improve the Community Reinvestment Act framework.