S. 1799

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.