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SECTION 1. SHORT TITLE.

This Act may be cited as the ''Community Bank Sensible Regulation
Act of 2017''.

SEC. 2. EXEMPTIVE AUTHORITY FOR THE FEDERAL DEPOSIT INSURANCE
CORPORATION.

Section 10 of the Federal Deposit Insurance Act (12 U.S.C. 1820) is
amended by adding at the end the following:
''(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 that
confers authority to the Corporation.
''(2) Conditions.--The Corporation may impose conditions on
an exemption granted under paragraph (1).
''(3) Factors to consider.--In granting 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.''.

SEC. 3. EXEMPTIVE AUTHORITY FOR THE OFFICE OF THE COMPTROLLER OF THE
CURRENCY.

(a) Exemptive Authority With Respect to National Banks.--Section
5239A of the Revised Statutes (12 U.S.C. 93a) is amended--
(1) by striking ''Except'' and inserting the following:
''(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' has the meaning given the term in
section 3(c) of the Federal Deposit Insurance Act (12 U.S.C.
1813(c)).
''(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 of the Currency may
impose conditions on an exemption granted under paragraph (2).
''(4) Factors to consider.--In granting an exemption under
paragraph (2), the Comptroller of the Currency 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 in order 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 With Respect to Savings Associations.--
Section 4(a) of the Home Owners' Loan Act (12 U.S.C. 1463(a)) is
amended by adding at the end the following:
''(4) Exemptive authority.--
''(A) Definition.--In this paragraph, the term
'insured depository institution' has the meaning given
the term in section 3(c) of the Federal Deposit
Insurance Act (12 U.S.C. 1813(c)).
''(B) Exemption.--Notwithstanding any other
provision of law, the Comptroller, 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 Act;
''(ii) any rule promulgated under this Act;
or
''(iii) any rule promulgated under any
other Act that confers authority on the
Comptroller.
''(C) Conditions.--The Comptroller may impose
conditions on an exemption granted under subparagraph
(B).
''(D) Factors to consider.--In granting 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 in order 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.''.

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

(a) Exemptive Authority With Respect to State Member Banks.--
Section 11 of the Federal Reserve Act (12 U.S.C. 248) is amended--
(1) by redesignating the second subsection (s) (relating to
assessments, fees, and other charges for certain companies) as
subsection (t); and
(2) by adding at the end the following:
''(u) Exemptive Authority.--
''(1) Definition.--In this section, the term 'insured
depository institution' has the meaning given the term in
section 3(c) of the Federal Deposit Insurance Act (12 U.S.C.
1813(c)).
''(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 that
confers authority on the Board.
''(3) Conditions.--The Board may impose conditions on an
exemption granted under paragraph (2).
''(4) Factors to consider.--In granting 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 in order 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 With Respect to Bank Holding Companies.--
The Bank Holding Company Act of 1956 (12 U.S.C. 1841 et seq.) is
amended by adding at the end the following:

''SEC. 15. EXEMPTIVE AUTHORITY.

''(a) Definition.--In this section, the term 'insured depository
institution' has the meaning given the term in section 3(c) of the
Federal Deposit Insurance Act (12 U.S.C. 1813(c)).
''(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 that confers
authority on the Board.
''(c) Conditions.--The Board may impose conditions on an exemption
granted under subsection (b).
''(d) Factors To Consider.--In granting 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
in order 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) is amended by adding at the end the following:
''(u) Exemptive Authority.--
''(1) Definitions.--In this subsection--
''(A) the term 'insured depository institution' has
the meaning given the term in section 3(c) of the
Federal Deposit Insurance Act (12 U.S.C. 1813(c)); and
''(B) the term 'mutual holding company' has the
meaning given the term in subsection (o)(10)(A).
''(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 that
confers authority on the Board.
''(3) Conditions.--The Board may impose conditions on an
exemption granted under paragraph (2).
''(4) Factors to consider.--In granting 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 in order 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 to the Board 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.''.
Community Bank Sensible Regulation Act of 2017 This bill amends federal finance laws to allowfederal financial regulatory agenciesto exempt fromtheir regulatory purview, based on consideration of specified factors,certain depository institutions with less than $10 billion in assets.