Reps. Randy Hultgren (R-Ill.), Terri Sewell (D-Ala.) and Blaine Luetkemeyer (R-Mo.) yesterday introduced the Community Bank Reporting Relief Act, an ABA-supported measure that would streamline bank reporting by permitting well-capitalized and highly rated banks to file a short-form Call Report in the first and third quarters each year. The full Call Report would be required in other quarters.
Similar legislation has been included in numerous other ABA-advocated regulatory relief packages introduced in this and previous congresses and enjoys broad bipartisan support. ABA is also working closely with the regulatory agencies to provide banker feedback on Call Report burdens for all banks as part of an accelerated review the agencies are currently conducting.