3.0.0 1816 2023-01-11T13:30:05Z 2023-01-11T13:30:05Z Senate S 2015-07-21 114 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Hearings by 2016-06-23T14:08:34Z Referred to 2015-07-21T20:29:31Z Community Bank Access to Capital Act of 2015 114 1523 HR 2015-03-23 Referred to the House Committee on Financial Services. Related bill CRS CLEAR Plus Act of 2015 114 927 S 2016-06-23 Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 114-366. Related bill CRS 2016-06-23 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 114-366. Committee 2015-07-21 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2015-07-21 Introduced in Senate IntroReferral 10000 9 Library of Congress R000605 Sen. Rounds, Mike [R-SD] Mike Rounds R SD N B000575 Sen. Blunt, Roy [R-MO] Roy Blunt R MO 2015-07-21 True A000368 Sen. Ayotte, Kelly [R-NH] Kelly Ayotte R NH 2015-11-10 False Finance and Financial Sector Administrative law and regulatory procedures Bank accounts, deposits, capital Department of the Treasury Federal Deposit Insurance Corporation (FDIC) Federal Reserve System Securities Securities and Exchange Commission (SEC) Finance and Financial Sector 00 2015-07-21 Introduced in Senate 2015-10-27T14:01:43Z Community Bank Access to Capital Act of 2015

This bill directs the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (FDIC): (1) to each promulgate a regulation exempting community banks from regulations implementing "Basel III: A global regulatory framework for more resilient banks and banking systems," and (2) to revise capital requirements as they determine appropriate in light of such required regulations.

A community bank is defined as one whose consolidated assets are not greater than $50 billion.

The bill also exempts from the internal control attestation requirements of the Sarbanes-Oxley Act of 2002 both an insured depository institution and a depository institution holding company with consolidated assets of not greater than $1 billion.

The Securities and Exchange Commission (SEC) is prohibited from adjusting under Regulation D the $1 million net worth threshold and $200,000 and $300,000 income thresholds that define a natural person as an accredited investor.

The SEC shall increase from 35 to 70 the number of purchasers of securities in transactions deemed not to involve a public offering and so are exempt from regulation under the Securities Exchange Act of 1933.

The Securities Exchange Act of 1934 is amended to: (1) subject a savings and loan holding company to registration requirements for securities whose issuer has total assets exceeding $10 million and a class of non-exempt equity security held of record by 2,000 or more persons; and (2) apply the automatic termination of registration, and suspension of the duty to file supplementary and periodic information, to a savings and loan holding company whose securities are found to be held by less than 1,200 persons.

]]> Community Bank Access to Capital Act of 2015 Display Title Community Bank Access to Capital Act of 2015 Official Title as Introduced A bill to provide relief to community banks, to promote access to capital for community banks, and for other purposes. Introduced in Senate IS Short Titles as Introduced Community Bank Access to Capital Act of 2015 Introduced in Senate 2015-07-21T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114s1816is/xml/BILLS-114s1816is.xml 2016-06-23 Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 114-366. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.