ABA today wrote to House members welcoming H.R. 1660 and H.R. 1661, which would help federal savings associations and mutual banks serve their customers while retaining their unique charter and ownership models.
The bipartisan bills — part of ABA’s Agenda for America’s Hometown Banks — would allow thrifts chartered under the Home Owners’ Loan Act to elect to receive the lending powers of national banks without changing their HOLA charters and would create a mutual capital certificate to help mutuals increase their capital levels.
“These measures will provide greater flexibility to many of America’s hometown banks and the communities they serve,” ABA said.