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.