The House Financial Services Committee voted to advance nine bills on a range of issues that were supported by the American Bankers Association. During a series of votes yesterday and today, the committee favorably reported:
- H.R. 5577, the NFIP Extension Act of 2026, led by Rep. Andrew Garbarino (R-N.Y.), would extend the National Flood Insurance Program through Sept. 30, 2026, and make it retroactive to Sept. 30 of this year. The vote was 53-0.
- H.R. 6553, the Tailoring and Indexing Enhanced Regulations (TIER) Act, led by Rep. Andy Barr (R-Ky.), would index various asset-based thresholds for bank regulations to nominal GDP. The bill focuses on mid-size and regional banks and primarily includes indexing for enhanced prudential standards, periodic and supervisory stress tests. The vote was 33-19.
- H.R. 6554, the Community Bank Representation Act, by Rep. Monica De La Cruz (R-Texas), would expand community bank representation on the Federal Reserve board by providing a more explicit role in the supervision and regulation of banks with less than $17 million in total assets, indexed annually for nominal GDP. The vote was 30-23.
- H.R. 6536, Rural Depositories Revitalization Study Act, by Rep. Ralph Norman (R-S.C.), would require the prudential regulators to jointly study ways to improve the growth, capital adequacy, and profitability of rural depository institutions and to identify regulatory barriers to the formation of new depository institutions. The vote was 50-0.
- H.R. 6551, the New Bank Application Numbers Knowledge Act (New BANK) Act, by Rep. Barry Loudermilk (R-Ga.), would require the Fed, FDIC, the Office of the Comptroller of the Currency and the National Credit Union Administration to publish annual reports on applications received for federal depository institution charters, depository institution holding companies, federal deposit insurance and state depository institution charters. The vote was 53-0.
- H.R. 6546, Merger Process Review Act, by Rep. Roger Williams (R-Texas), would require the inspector general of each banking regulator to review its merger review procedures every three years and submit a report to Congress. The vote was 52-0.
- H.R. 6570, the Merger Agreement Approvals Clarity and Predictability Act, by Rep. Scott Fitzgerald (R-Wis.), would require the comptroller general to study the use of commitments, conditions and other aspects of the merger review procedures by regulators in connection with bank merger applications. The vote was 52-0.
- H.R. 6544, The Regulatory Efficiency, Verification, Itemization and Enhanced Workflow (REVIEW) Act, by Rep. William Timmons (R-S.C.), would amend the Economic Growth and Regulatory Paperwork Reduction Act of 1996, or EGRPRA, to build on the existing regulatory review process by increasing the frequency from every 10 years to every seven year It also would require the Fed, FDIC, OCC and NCUA to conduct an internal review of the cumulative effects of their regulations. The vote was 29-22.
- H.R. 6550, the American Financial Institution Regulatory Sovereignty and Transparency (American FIRST) Act, by Rep. Barry Loudermilk (R-Ga.), would require the Fed, OCC and FDIC to include in their annual reports information on their interactions with global financial regulatory or supervisory forums like the Basel Committee. The vote was 29-23.
The committee also voted 50-1 to advance its bipartisan housing package, the Housing for the 21st Century Act (H.R. 6644). ABA has not taken a position on the bill.
