House thinks bigger community banks will help more small businesses get loans   

The United States House of Representatives passed H.R. 3791 on April 14, 2016 with a 247-141 vote.  Should it be passed by the Senate and approved by the Administration, it would exempt more bank holding companies from the Dodd-Frank Act’s leverage and risk-based capital requirements by raising the threshold for the small bank exemption from $1 billion in consolidated assets to $5 billion.

This exemption “plays an important role in capital formation for smaller bank and thrift holding companies that have limited access to equity markets,” Independent Community Bankers of America wrote in a letter to House leaders. 

The bill “will ease regulatory restrictions on small bank mergers, allowing them to better compete and continue serving their communities in the long-term,” said Rep. Richard Hanna, R-N.Y. 

Web Hosting Companies