[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5659 Introduced in House (IH)]

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115th CONGRESS
  2d Session
                                H. R. 5659

 To amend the Bank Holding Company Act of 1956 to provide relief from 
                 the Volcker Rule for community banks.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             April 27, 2018

Mrs. Love (for herself and Mr. Huizenga) introduced the following bill; 
       which was referred to the Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
 To amend the Bank Holding Company Act of 1956 to provide relief from 
                 the Volcker Rule for community banks.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Volcker Rule Relief Act of 2018''.

SEC. 2. COMMUNITY BANK RELIEF.

    Section 13(h)(1) of the Bank Holding Company Act of 1956 (12 U.S.C. 
1851(h)(1)) is amended--
            (1) in subparagraph (D), by redesignating clauses (i) and 
        (ii) as subclauses (I) and (II), respectively, and adjusting 
        the margins accordingly;
            (2) by redesignating subparagraphs (A) through (D) as 
        clauses (i) through (iv), respectively, and adjusting the 
        margins accordingly;
            (3) in the matter preceding clause (i), as so redesignated, 
        in the second sentence, by striking ``institution that 
        functions solely in a trust or fiduciary capacity, if--'' and 
        inserting the following: ``institution--
                    ``(A) that functions solely in a trust or fiduciary 
                capacity, if--'';
            (4) in clause (iv)(II), as so redesignated, by striking the 
        period at the end and inserting ``; or''; and
            (5) by adding at the end the following:
                    ``(B) that does not have, and is not controlled by 
                a covered fund or a bank holding company that has--
                            ``(i) more than $10,000,000,000 in total 
                        consolidated assets; and
                            ``(ii) total trading assets and trading 
                        liabilities, as reported on the most recent 
                        applicable regulatory filing filed by the 
                        institution, that are more than 5 percent of 
                        total consolidated assets.''.
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