II 

114TH CONGRESS 

1ST SESSION S. 1799 

To provide authority for certain depository institutions, and for other 

purposes. 

IN THE SENATE OF THE UNITED STATES 

JULY 16, 2015 

Ms. COLLINS introduced the following bill; which was read twice and referred 

to the Committee on Banking, Housing, and Urban Affairs 

A BILL 

To provide authority for certain depository institutions, and 

for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Community Bank Sen5 sible Regulation Act of 2015’’. 

6 SEC. 2. EXEMPTIVE AUTHORITY FOR THE FEDERAL DE7 POSIT INSURANCE CORPORATION. 

8 Section 10 of the Federal Deposit Insurance Act (12 

9 U.S.C. 1820) is amended by adding at the end the fol10 lowing: 


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1 ‘‘(l) EXEMPTIVE AUTHORITY.— 

2 ‘‘(1) IN GENERAL.—Notwithstanding any other 

3 provision of law, the Corporation, after considering 

4 the factors in paragraph (3), may exempt by rule 

5 any depository institution having less than 

6 $10,000,000,000 in total assets from— 

7 ‘‘(A) any provision of this Act; 

8 ‘‘(B) any rule promulgated under this Act; 

9 or 

10 ‘‘(C) any rule promulgated under any 

11 other Act conferring authority to the Corpora12 tion. 

13 ‘‘(2) CONDITIONS.—The Corporation may im14 pose conditions on an exemption granted under 

15 paragraph (1). 

16 ‘‘(3) FACTORS TO CONSIDER.—In issuing an ex17 emption under paragraph (1), the Corporation shall 

18 consider, as appropriate, the extent to which— 

19 ‘‘(A) the provision or rule would impose an 

20 unnecessary or undue burden or cost on the de21 pository institution; 

22 ‘‘(B) the provision or rule is unnecessary 

23 or unwarranted in order to promote the safety 

24 and soundness of the depository institution; and 


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1 ‘‘(C) the exemption is necessary, appro2 priate, or consistent with the public interest. 

3 ‘‘(4) INDEXATION OF ASSET THRESHOLD.—The 

4 asset threshold identified in paragraph (1) shall be 

5 increased annually at a percentage equal to the per6 centage change in the total aggregate assets of in7 sured depository institutions for each 12-month pe8 riod ending in December of each year, rounded to 

9 the nearest $10,000,000.’’. 

10 SEC. 3. EXEMPTIVE AUTHORITY FOR THE OFFICE OF THE 

11 COMPTROLLER OF THE CURRENCY. 

12 (a) EXEMPTIVE AUTHORITY FOR NATIONAL

13 BANKS.—Section 5239A of the Revised Statutes is 

14 amended— 

15 (1) by striking ‘‘Except’’ and inserting the fol16 lowing: 

17 ‘‘(a) IN GENERAL.—Except’’; and 

18 (2) by adding at the end the following: 

19 ‘‘(b) EXEMPTIVE AUTHORITY.— 

20 ‘‘(1) DEFINITION.—In this subsection, the term 

21 ‘insured depository institution’ has the meaning 

22 given the term in section 3 of the Federal Deposit 

23 Insurance Act (12 U.S.C. 1813). 

24 ‘‘(2) EXEMPTION.—Notwithstanding any other 

25 provision of law, the Comptroller of the Currency, 


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1 after considering the factors in paragraph (4), may 

2 exempt by rule any national bank having less than 

3 $10,000,000,000 in total assets from— 

4 ‘‘(A) any provision of this title; 

5 ‘‘(B) any rule promulgated under this title; 

6 or 

7 ‘‘(C) any rule promulgated under any 

8 other title or Act that confers authority to the 

9 Comptroller. 

10 ‘‘(3) CONDITIONS.—The Comptroller may im11 pose conditions on an exemption granted under 

12 paragraph (2). 

13 ‘‘(4) FACTORS TO CONSIDER.—In issuing an ex14 emption under paragraph (2), the Comptroller shall 

15 consider, as appropriate, the extent to which— 

16 ‘‘(A) the provision or rule would impose an 

17 unnecessary or undue burden or cost on the na18 tional bank; 

19 ‘‘(B) the provision or rule is unnecessary 

20 or unwarranted to promote the safety and 

21 soundness of the national bank; and 

22 ‘‘(C) the exemption is necessary, appro23 priate, or consistent with the public interest. 

24 ‘‘(5) INDEXATION OF ASSET THRESHOLD.—The 

25 asset threshold identified in paragraph (1) shall be 


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1 increased annually at a percentage equal to the per2 centage change in the total aggregate assets of in3 sured depository institutions for each 12-month pe4 riod ending in December of each year, rounded to 

5 the nearest $10,000,000.’’. 

6 (b) EXEMPTIVE AUTHORITY FOR SAVINGS ASSOCIA7 TIONS.—Section 4(a) of the Home Owners’ Loan Act (12 

8 U.S.C. 1463(a)) is amended by adding at the end the fol9 lowing: 

10 ‘‘(4) EXEMPTIVE AUTHORITY.— 

11 ‘‘(A) DEFINITION.—In this paragraph, the 

12 term ‘insured depository institution’ has the 

13 meaning given the term in section 3 of the Fed14 eral Deposit Insurance Act (12 U.S.C. 1813). 

15 ‘‘(B) EXEMPTION.—Notwithstanding any 

16 other provision of law, the Comptroller of the 

17 Currency, after considering the factors in sub18 paragraph (D), may exempt by rule any savings 

19 association having less than $10,000,000,000 in 

20 total assets from— 

21 ‘‘(i) any provision of this title; 

22 ‘‘(ii) any rule promulgated under this 

23 title; or 


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1 ‘‘(iii) any rule promulgated under any 

2 other title or Act conferring authority on 

3 the Comptroller. 

4 ‘‘(C) CONDITIONS.—The Comptroller may 

5 impose conditions on an exemption granted 

6 under subparagraph (B). 

7 ‘‘(D) FACTORS TO CONSIDER.—In issuing 

8 an exemption under subparagraph (B), the 

9 Comptroller shall consider, as appropriate, the 

10 extent to which— 

11 ‘‘(i) the provision or rule would im12 pose an unnecessary or undue burden or 

13 cost on the savings association; 

14 ‘‘(ii) the provision or rule is unneces15 sary or unwarranted to promote the safety 

16 and soundness of the savings association; 

17 and 

18 ‘‘(iii) the exemption is necessary, ap19 propriate, or consistent with the public in20 terest. 

21 ‘‘(E) INDEXATION OF ASSET THRESH22 OLD.—The asset threshold identified in sub23 paragraph (B) shall be increased annually at a 

24 percentage equal to the percentage change in 

25 the total aggregate assets of insured depository 


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1 institutions for each 12-month period ending in 

2 December of each year, rounded to the nearest 

3 $10,000,000.’’. 

4 SEC. 4. EXEMPTIVE AUTHORITY FOR THE BOARD OF GOV5 ERNORS OF THE FEDERAL RESERVE SYSTEM. 

6 (a) EXEMPTIVE AUTHORITY FOR STATE MEMBER

7 BANKS.—Section 11 of the Federal Reserve Act (12 

8 U.S.C. 248) is amended by adding at the end the fol9 lowing: 

10 ‘‘(t) EXEMPTIVE AUTHORITY.— 

11 ‘‘(1) DEFINITION.—In this section, the term 

12 ‘insured depository institution’ has the meaning 

13 given the term in section 3 of the Federal Deposit 

14 Insurance Act (12 U.S.C. 1813). 

15 ‘‘(2) EXEMPTION.—Notwithstanding any other 

16 provision of law, the Board, after considering the 

17 factors in paragraph (4), may exempt by rule any 

18 State member bank having less than 

19 $10,000,000,000 in total assets from— 

20 ‘‘(A) any provision of this Act; 

21 ‘‘(B) any rule promulgated under this Act; 

22 or 

23 ‘‘(C) any rule promulgated under any 

24 other Act conferring authority on the Board. 


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1 ‘‘(3) CONDITIONS.—The Board may impose 

2 conditions on an exemption granted under para3 graph (2). 

4 ‘‘(4) FACTORS TO CONSIDER.—In issuing an ex5 emption under paragraph (2), the Board shall con6 sider, as appropriate, the extent to which— 

7 ‘‘(A) the provision or rule would impose an 

8 unnecessary or undue burden or cost on the 

9 State member bank; 

10 ‘‘(B) the provision or rule is unnecessary 

11 or unwarranted to promote the safety and 

12 soundness of the State member bank; and 

13 ‘‘(C) the exemption is necessary, appro14 priate, or consistent with the public interest.’’. 

15 ‘‘(5) INDEXATION OF ASSET THRESHOLD.—The 

16 asset threshold identified in paragraph (2) shall be 

17 increased annually at a percentage equal to the per18 centage change in the total aggregate assets of in19 sured depository institutions for each 12-month pe20 riod ending in December of each year, rounded to 

21 the nearest $10,000,000.’’. 

22 (b) EXEMPTIVE AUTHORITY FOR BANK HOLDING

23 COMPANIES.—The Bank Holding Company Act of 1956 

24 (12 U.S.C. 1841 et seq.) is amended by adding at the end 

25 the following: 


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1 ‘‘SEC. 15. EXEMPTIVE AUTHORITY. 

2 ‘‘(a) DEFINITION.—In this section, the term ‘insured 

3 depository institution’ has the meaning given the term in 

4 section 3 of the Federal Deposit Insurance Act (12 U.S.C. 

5 1813). 

6 ‘‘(b) EXEMPTION.—Notwithstanding any other provi7 sion of law, the Board, after considering the factors in 

8 subsection (d), may exempt by rule any bank holding com9 pany having less than $10,000,000,000 in total assets 

10 from— 

11 ‘‘(1) any provision of this Act; 

12 ‘‘(2) any rule promulgated under this Act; or 

13 ‘‘(3) any rule promulgated under any other Act 

14 conferring authority on the Board. 

15 ‘‘(c) CONDITIONS.—The Board may impose condi16 tions on an exemption granted under subsection (b). 

17 ‘‘(d) FACTORS TO CONSIDER.—In issuing an exemp18 tion under subsection (b), the Board shall consider, as ap19 propriate, the extent to which— 

20 ‘‘(1) the provision or rule would impose an un21 necessary or undue burden or cost on the bank hold22 ing company; 

23 ‘‘(2) the provision or rule is unnecessary or un24 warranted to promote the safety and soundness of 

25 the bank holding company; and 


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1 ‘‘(3) the exemption is necessary, appropriate, or 

2 consistent with the public interest. 

3 ‘‘(e) INDEXATION OF ASSET THRESHOLD.—The 

4 asset threshold identified in subsection (b) shall be in5 creased annually at a percentage equal to the percentage 

6 change in the total aggregate assets of insured depository 

7 institutions for each 12-month period ending in December 

8 of each year, rounded to the nearest $10,000,000.’’. 

9 (c) EXEMPTIVE AUTHORITY FOR SAVINGS AND LOAN

10 HOLDING COMPANIES AND MUTUAL HOLDING COMPA11 NIES.—Section 10 of the Home Owners’ Loan Act (12 

12 U.S.C. 1467a) is amended by adding at the end the fol13 lowing: 

14 ‘‘(u) EXEMPTIVE AUTHORITY.— 

15 ‘‘(1) DEFINITIONS.—In this subsection— 

16 ‘‘(A) the term ‘insured depository institu17 tion’ has the meaning given the term in section 

18 3 of the Federal Deposit Insurance Act (12 

19 U.S.C. 1813); and 

20 ‘‘(B) the term ‘mutual holding company’ 

21 has the meaning given the term in subsection 

22 (o)(10)(A). 

23 ‘‘(2) EXEMPTION.—Notwithstanding any other 

24 provision of law, the Board, after considering the 

25 factors in paragraph (4), may exempt by rule any 


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1 savings and loan holding company or any mutual 

2 holding company having less than $10,000,000,000 

3 in total assets from— 

4 ‘‘(A) any provision of this Act; 

5 ‘‘(B) any rule promulgated under this Act; 

6 or 

7 ‘‘(C) any rule promulgated under any 

8 other Act conferring authority on the Board. 

9 ‘‘(3) CONDITIONS.—The Board may impose 

10 conditions on an exemption granted under para11 graph (2). 

12 ‘‘(4) FACTORS TO CONSIDER.—In issuing an ex13 emption under paragraph (2), the Board shall con14 sider the extent to which— 

15 ‘‘(A) the provision or rule would impose an 

16 unnecessary or undue burden or cost on the 

17 savings and loan holding company or the mu18 tual holding company; 

19 ‘‘(B) the provision or rule is unnecessary 

20 or unwarranted to promote the safety and 

21 soundness of the savings and loan holding com22 pany or the mutual holding company; and 

23 ‘‘(C) the exemption is necessary, appro24 priate, or consistent with the public interest. 


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1 ‘‘(5) LIMITATION.—The authority granted 

2 under paragraph (2) shall not apply with respect to 

3 a savings and loan holding company described in 

4 subsection (c)(9)(C). 

5 ‘‘(6) INDEXATION OF ASSET THRESHOLD.—The 

6 asset threshold identified in paragraph (2) shall be 

7 increased annually at a percentage equal to the per8 centage change in the total aggregate assets of in9 sured depository institutions for each 12-month pe10 riod ending in December of each year, rounded to 

11 the nearest $10,000,000.’’. 

Æ 


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