The American Bankers Association today urged House lawmakers to support six bills covering a wide range of banking-related issues, from the Federal Reserve’s discount window to de novo bank formation.
The House Financial Services Committee is meeting today and tomorrow to consider several bills. In a memo to the committee, ABA expressed support for the following:
- H.R. 3390, the Bringing the Discount Window into the 21st Century Act, sponsored by Rep. Monica De La Cruz (R-Texas). The bill would require the Fed to review its discount window lending programs, develop a remediation plan to address deficiencies and enhance the effectiveness of the programs. “This legislation is a positive step toward ensuring discount window operations are up to date and that accessing the discount window is easy and efficient to use in times of stress,” ABA said.
- H.R. 4460, the Stop Agency Fiat Enforcement of Guidance (SAFE Guidance) Act, sponsored by Rep. Dan Meuser (R-Pa.). The legislation would require each financial regulator to include a guidance clarity statement with any guidance issued by that agency.
- H.R. 3446, the FDIC Board Accountability Act, sponsored by Rep. Bill Huizenga (R-Mich.). The bill would revise the membership requirements for the FDIC board by making the CFPB Director a nonvoting member of the board, mandating that one member have state bank supervisory experience, and that one member have primary experience working in or supervising depository institutions with less than $10 billion in total assets.
- H.R. 4544, The American Access to Banking Act, sponsored by committee Ranking Member Maxine Waters (D-Calif). The bill would encourage the formation of de novo financial institutions by, among other things, directing agencies to streamline and simplify the application process.
- H.R. 4478, the Tailored Regulatory Updates for Supervisory Testing Act of 2025 (TRUST Act), sponsored by Reps. Tim Moore (R-N.C.) and Ritchie Torres (D-N.Y.). The bill would increase the total asset threshold under which institutions qualify for an 18-month exam cycle from $3 billion to $6 billion. “This important legislation helps ensure bank regulations do not impose unintended constraints on institutions by reducing regulatory burdens for community banks in the examination process,” ABA said.
- H.R. 4437, the Supervisory Modifications for Appropriate Risk-Based Testing Act of 2025 (SMART Act), sponsored by Reps. William Timmons (R-S.C.) and Bill Foster (D-Ill.). The bill would increase the total asset threshold under which institutions qualify for a limited-scope examination directly after an on-site, full-scope exam from $3 billion to $6 billion. It also requires that if an institution is otherwise subject to a separate safety and soundness exam and a consumer compliance exam, at the request of the institution, the regulatory agency shall combine and carry out the exams at the same time.
