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Browsing: Mutual Banks
Sens. Heidi Heitkamp (D-N.D.) and Jerry Moran (R-Kan.) today introduced ABA-advocated legislation that would allow institutions chartered under the Home Owners Loan Act to elect to operate more like national banks without having to change their charters.
Speaking today at ABA’s Mutual Community Bank Conference, Rep. Keith Rothfus (R-Pa.) provided an update on two key pieces of legislation he introduced that are part of ABA’s Agenda for America’s Hometown Banks.
An increasing number of bankers believe their regulatory examiners understand the mutual model, according to ABA’s annual survey of the nation’s mutual institutions, which was released today as the association kicks off its Mutual Community Bank Conference in Washington, D.C.
The House Financial Services Committee yesterday approved by a voice vote a bipartisan bill that would allow thrifts chartered under the Home Owners’ Loan Act to elect to receive the lending powers — and compliance responsibilities — of national banks without changing their HOLA charters.
The House Financial Services Committee is expected to vote this week on several bipartisan bills that are part of ABA’s Agenda for America’s Hometown Banks. H.R. 1309, introduced by Rep. Blaine Luetkemeyer (R-Mo.) with 112 bipartisan co-sponsors, would eliminate the automatic designation of banks as systemically important based solely on asset size, recognizing that regulators should consider many different components of risk.
Frank Keating discusses top banking issues—from regulatory relief and cybersecurity to de novos and the future of the mutual charter—with Comptroller of the Currency Thomas Curry.
The House Financial Services Committee’s Subcommittee on Financial Institutions held a hearing on a number of ABA supported bills this past June, including H.R. 1660, the HOLA Flexibility Bill introduced by Rep. Keith Rothfus (R-Pa.).
Thanks to banker grassroots advocacy, bills ABA is advocating as part of its Agenda for America’s Hometown Banks are racking up bipartisan co-sponsors in Congress.