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H.R. 6554119th CongressPlaced on the calendarLatest action Feb 25, 2026Decoded by AI · checked against the record
The plain-language version leads. The official text is always the reference.
The bill raises the Fed's community bank asset threshold to $17 billion and adds new congressional testimony requirements.
45-second read · 4 questions answered below
This bill removes the $10 billion cap tied to the Federal Reserve Board member overseeing community banks and instead defines their role as covering banks with less than $17 billion in assets. It also raises the general "community bank" asset threshold from $10 billion to $17 billion and requires that figure to adjust automatically each year for economic growth. It further requires this Board member to testify before Congress twice yearly and be consulted by federal banking regulators.
Community banks and their regulators, the Federal Reserve Board of Governors, Congress (House Financial Services and Senate Banking Committees), and the Federal Financial Institutions Examination Council.
Raising the threshold means more banks would be classified as "community banks" and subject to this specialized oversight rather than rules designed for larger institutions, which could affect how local and regional banks are regulated.
AI-drafted summary. Verify it against the official text before you act on it. Read the official bill on Congress.gov
Right now: it was placed on the House floor calendar, and the official record shows no floor action on it since. If the Senate changes it, it goes back to the House before reaching the President.
Latest action: — Placed on the Union Calendar, Calendar No. 458.