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          Senate Banking Committee                                 •   Raise eligibility for the 18-month exam cycle from $1

          Passes Bipartisan Reg Reform                                 billion to banks with $3 billion in assets.
          Bill                                                     •   Provide charter flexibility for federal thrifts with less
                                                                       than $15 billion in assets.
          After seven hours of                                     •   Raise eligibility for Short Form Call Reports from $1
          debate,  the  Senate                                         billion to banks with $5 billion in assets.
          Banking  Committee
          has approved S. 2155,                                    •   Provide relief from HMDA disclosures for small
          the Economic Growth,                                         originators (less than 500 mortgages/500 open-end lines
          Regulatory Relief and                                        of credit for each of the two preceding years).
          Consumer Protection                                      •   Clarify that Property Assessed Clean Energy (PACE)
          Act with a bipartisan                                        loans meet the ability to repay standards.
          16-7 vote. The legislation represents the first meaningful   •   Provide an exception to TILA escrow requirements for
          regulatory reform measure to be taken up in the Senate Banking   banks with less than $10 billion in assets, and that have
          Committee since the enactment of the Dodd-Frank Act.         originated 1000 or fewer loans secured by a first lien on
          The bill passed with the bipartisan support of all Republican   a principal dwelling during the preceding calendar year.
          members of the Committee, along with Democrat Senators   •   Remove  3-day  waiting  period  requirement  in  TILA/
          Heidi Heitkamp (ND), Jon Tester (MT), Mark Warner            RESPA mortgage disclosures if the consumer receives a
          (VA) and  Joe  Donnelly (IN).   Despite several  attempts (37   second offer of credit with a lower rate.
          amendments) by Democrat Senators to amend the measure, the   •   Raise eligibility for use of the Fed’s Small Bank Holding
          bill remained largely unchanged from the bill’s introduction.    Company Policy Statement from $1 billion to banks

          “The bipartisan proposals on which we have agreed will       with $3 billion in assets.
          significantly improve our financial regulatory framework and   •   Require the banking agencies to specify that funds of
          foster economic growth by right-sizing regulation, particularly   a custodial bank that are deposited with a central bank
          for smaller financial institutions and community banks,” said   will not be taken into account when calculating the
          Chairman Crapo.                                              supplementary leverage ratio.

          “Our bill is an example of how if Democrats and Republicans   •   Direct the FDIC, Fed and OCC to classify investment-
          put partisanship aside and work together, we can reach real   grade municipal securities as level 2B liquid assets under
          compromises that support the country,” stated Senator Heitkamp.   the Liquidity Coverage Ratio (LCR).
          She said the bill will provide needed relief to community banks,   •   Raise the  threshold for designation  as a  systemically
          so they can continue “enabling small businesses to get financing   important financial institution from $50 billion to $250
          to operate, helping farmers get loans to support their farms, and   billion in assets.
          allowing families to buy homes in rural communities . . . while
          strengthening protections for consumers.”                •   End company run stress tests entirely for banks with
                                                                       under $250 billion in assets and change the frequency of
          As reported out of the committee the bill would:
                                                                       remaining stress tests to “periodic.”
            •   Designate all mortgages held in portfolio as Qualified   •   Reduce paperwork to facilitate opening online accounts.
               Mortgages for banks with less than $10 billion in assets.
               This would also apply when a mortgage is sold, assigned   •   Increase transparency and coordination between
               or transferred to a wholly-owned subsidiary of the bank   the NAIC and the regulatory bodies to encourage
               in certain circumstances.                               harmonization and a robust insurance market.
            •   Simplify capital calculations for community banks with   It is now up to Senate leadership to decide when this measure
               less than $10 billion in assets.                  will be taken up by the full Senate.  This will most likely occur
                                                                 early in 2018.
            •   Exempt banks with less than $10 billion in assets from
               Volcker Rule requirements, and eliminate the Volcker   For a section by section summary,  visit: https://www.
               naming rights restrictions for all asset managers and
               funds affiliated with banks.                      8ed0-5c31d8e93823/53922B835171ECAAC6A40BD306944
            •   Provide relief from appraisal requirements for smaller
               mortgages (under $400,000).

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