Community Bank Sensible Regulation Act of 2015

To provide authority for certain depository institutions, and for other purposes. 1. Short title This Act may be cited as the Community Bank Sensible Regulation Act of 2015 2. Exemptive authority for the Federal Deposit Insurance Corporation Section 10 of the Federal Deposit Insurance Act ( 12 U.S.C. 1820 (l) Exemptive authority (1) In general Notwithstanding any other provision of law, the Corporation, after considering the factors in paragraph (3), may exempt by rule any depository institution having less than $10,000,000,000 in total assets from— (A) any provision of this Act; (B) any rule promulgated under this Act; or (C) any rule promulgated under any other Act conferring authority to the Corporation. (2) Conditions The Corporation may impose conditions on an exemption granted under paragraph (1). (3) Factors to consider In issuing an exemption under paragraph (1), the Corporation shall consider, as appropriate, the extent to which— (A) the provision or rule would impose an unnecessary or undue burden or cost on the depository institution; (B) the provision or rule is unnecessary or unwarranted in order to promote the safety and soundness of the depository institution; and (C) the exemption is necessary, appropriate, or consistent with the public interest. (4) Indexation of asset threshold The asset threshold identified in paragraph (1) shall be increased 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 $10,000,000. . 3. Exemptive authority for the Office of the Comptroller of the Currency (a) Exemptive authority for national banks Section 5239A of the Revised Statutes is amended— (1) by striking Except (a) In general Except ; and (2) by adding at the end the following: (b) Exemptive authority (1) Definition In this subsection, the term insured depository institution 12 U.S.C. 1813 (2) Exemption Notwithstanding any other provision of law, the Comptroller of the Currency, after considering the factors in paragraph (4), may exempt by rule any national bank having less than $10,000,000,000 in total assets from— (A) any provision of this title; (B) any rule promulgated under this title; or (C) any rule promulgated under any other title or Act that confers authority to the Comptroller. (3) Conditions The Comptroller may impose conditions on an exemption granted under paragraph (2). (4) Factors to consider In issuing an exemption under paragraph (2), the Comptroller shall consider, as appropriate, the extent to which— (A) the provision or rule would impose an unnecessary or undue burden or cost on the national bank; (B) the provision or rule is unnecessary or unwarranted to promote the safety and soundness of the national bank; and (C) the exemption is necessary, appropriate, or consistent with the public interest. (5) Indexation of asset threshold The asset threshold identified in paragraph (1) shall be increased 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 $10,000,000. . (b) Exemptive authority for savings associations Section 4(a) of the Home Owners’ Loan Act ( 12 U.S.C. 1463(a) (4) Exemptive Authority (A) Definition In this paragraph, the term insured depository institution 12 U.S.C. 1813 (B) Exemption Notwithstanding any other provision of law, the Comptroller of the Currency, after considering the factors in subparagraph (D), may exempt by rule any savings association having less than $10,000,000,000 in total assets from— (i) any provision of this title; (ii) any rule promulgated under this title; or (iii) any rule promulgated under any other title or Act conferring authority on the Comptroller. (C) Conditions The Comptroller may impose conditions on an exemption granted under subparagraph (B). (D) Factors to consider In issuing an exemption under subparagraph (B), the Comptroller shall consider, as appropriate, the extent to which— (i) the provision or rule would impose an unnecessary or undue burden or cost on the savings association; (ii) the provision or rule is unnecessary or unwarranted to promote the safety and soundness of the savings association; and (iii) the exemption is necessary, appropriate, or consistent with the public interest. (E) Indexation of asset threshold The asset threshold identified in subparagraph (B) shall be increased 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 $10,000,000. . 4. Exemptive authority for the Board of Governors of the Federal Reserve system (a) Exemptive authority for State member banks Section 11 of the Federal Reserve Act ( 12 U.S.C. 248 (t) Exemptive authority (1) Definition In this section, the term insured depository institution 12 U.S.C. 1813 (2) Exemption Notwithstanding any other provision of law, the Board, after considering the factors in paragraph (4), may exempt by rule any State member bank having less than $10,000,000,000 in total assets from— (A) any provision of this Act; (B) any rule promulgated under this Act; or (C) any rule promulgated under any other Act conferring authority on the Board. (3) Conditions The Board may impose conditions on an exemption granted under paragraph (2). (4) Factors to consider In issuing an exemption under paragraph (2), the Board shall consider, as appropriate, the extent to which— (A) the provision or rule would impose an unnecessary or undue burden or cost on the State member bank; (B) the provision or rule is unnecessary or unwarranted to promote the safety and soundness of the State member bank; and (C) the exemption is necessary, appropriate, or consistent with the public interest. . (5) Indexation of asset threshold The asset threshold identified in paragraph (2) shall be increased 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 $10,000,000. . (b) Exemptive authority for bank holding companies The Bank Holding Company Act of 1956 ( 12 U.S.C. 1841 et seq. 15. Exemptive Authority (a) Definition In this section, the term insured depository institution 12 U.S.C. 1813 (b) Exemption Notwithstanding any other provision of law, the Board, after considering the factors in subsection (d), may exempt by rule any bank holding company having less than $10,000,000,000 in total assets from— (1) any provision of this Act; (2) any rule promulgated under this Act; or (3) any rule promulgated under any other Act conferring authority on the Board. (c) Conditions The Board may impose conditions on an exemption granted under subsection (b). (d) Factors To consider In issuing an exemption under subsection (b), the Board shall consider, as appropriate, the extent to which— (1) the provision or rule would impose an unnecessary or undue burden or cost on the bank holding company; (2) the provision or rule is unnecessary or unwarranted to promote the safety and soundness of the bank holding company; and (3) the exemption is necessary, appropriate, or consistent with the public interest. (e) Indexation of asset threshold The asset threshold identified in subsection (b) shall be increased 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 $10,000,000. . (c) Exemptive authority for savings and loan holding companies and mutual holding companies Section 10 of the Home Owners’ Loan Act ( 12 U.S.C. 1467a (u) Exemptive authority (1) Definitions In this subsection— (A) the term insured depository institution 12 U.S.C. 1813 (B) the term mutual holding company (2) Exemption Notwithstanding any other provision of law, the Board, after considering the factors in paragraph (4), may exempt by rule any savings and loan holding company or any mutual holding company having less than $10,000,000,000 in total assets from— (A) any provision of this Act; (B) any rule promulgated under this Act; or (C) any rule promulgated under any other Act conferring authority on the Board. (3) Conditions The Board may impose conditions on an exemption granted under paragraph (2). (4) Factors to consider In issuing an exemption under paragraph (2), the Board shall consider the extent to which— (A) the provision or rule would impose an unnecessary or undue burden or cost on the savings and loan holding company or the mutual holding company; (B) the provision or rule is unnecessary or unwarranted to promote the safety and soundness of the savings and loan holding company or the mutual holding company; and (C) the exemption is necessary, appropriate, or consistent with the public interest. (5) Limitation The authority granted under paragraph (2) shall not apply with respect to a savings and loan holding company described in subsection (c)(9)(C). (6) Indexation of asset threshold The asset threshold identified in paragraph (2) shall be increased 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 $10,000,000. .

Summary: Community Bank Sensible Regulation Act of 2015 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.