Community Bank Sensible Regulation Act of 2015
Latest action. Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: continuing resolutionA stopgap law funding the government at existing levels when the annual appropriations bills are not done by October 1.Read the full definition (opens a new tab) S5173-5174)
Community Bank Sensible Regulation Act of 2015
This bill amends the following Acts governing insured depository institutions to authorize the respective regulatory agencies to exempt from their regulatory purview depository institutions having less than $10 billion in total assets after the agencies have considered specified factors:
the Federal Deposit Insurance Act (insured depository institutions),
the Revised Statutes (national banks),
the Home Owners' Loan Act (savings associations, savings and loan holding companies, and mutual holding company),
the Federal Reserve Act (state member banks), and
the Bank Holding Company Act of 1956 (bank holding companies).
When issuing an exemption from a provision or rule the regulatory agencies must consider the extent to which:
the provision or rule would impose an unnecessary or undue burden or cost on the depository institution;
the provision or rule is unnecessary or unwarranted to promote the safety and soundness of the depository institution; and
the exemption is necessary, appropriate, or consistent with the public interest.
The asset threshold of such depository institutions shall increase annually at a percentage equal to the percentage change in the total aggregate assets of insured depository institutions for each 12-month period ending in December of each year, rounded to the nearest $10 million.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Introduced in Senate" stage on July 16, 2015. It describes the bill, it is not the legal text.
Where is it in the process, and what happens next?
4 steps remain before this bill could become law.
The record's latest action, on July 16, 2015: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S5173-5174)
- Clearing the committees it was referred to, and being scheduled for a floor vote
- Passage by the Senate
- Passage by the House
- The President's signature. If the President vetoes it, two-thirds of both chambers must vote to override.
How likely is it to become law?
Civibrief does not forecast outcomes and this page has no opinion about this one. What the record supports is a base rate, which is a fact about the whole pile, not a prediction about this measure.
In the 114th Congress (2015-16), 329 of the 10,233 bills and joint resolutions introduced became law, about 3.2 percent. That count covers every measure at every stage, including the many that never left committee.
This one is not there yet: 4 steps are still outstanding, listed above.
Has anyone actually voted on it?
No. No roll call in this Congress cites this measure. That is the ordinary outcome: most measures never reach a recorded floor vote, and a committee ends most of them simply by not acting.
A vote is not the only thing that happens to a measure. Hearings, markups, and referrals are all recorded actions, and none of them is a vote of the full chamber.
Who is behind it?
Susan Collins (R-ME) introduced it on July 16, 2015. No cosponsors are recorded.
Cosponsoring is a formal signature on the text. It is not a commitment to vote for the measure, it does not bind anyone's party, and a long list of cosponsors is a measure of attention rather than of prospects.
How long has it been in play?
It was introduced on July 16, 2015, 4074 days ago. The most recent recorded action was 4074 days ago, on July 16, 2015.
Measures do not carry over. Anything the 114th Congress has not finished by January 3, 2017 dies when the term ends, and has to be introduced again from the start in the next Congress.
Every answer above is assembled from this measure's own record on Congress.gov and from published counts of what Congress has passed before. Civibrief does not predict outcomes and takes no position on any measure.
Vote history
- SenateIn committee, no floor vote yet
- HouseAwaits Senate passage
- PresidentAwaits both chambers