Community Bank LIFT Act

This bill makes it easier for smaller banks, known as community banks, to meet certain financial rules. It raises the size limit for banks that can use a simpler set of rules from $10 billion in assets to $15 billion, and it lowers the amount of money these banks are required to keep on hand. The bill also requires three federal banking agencies to study how to encourage more small banks to use this simpler system and to reduce the burden of following complicated regulations, and then create new rules based on their findings.

Your Vote