,,ii #aaeth ,,congress #ast ,session ,s4 #abfd ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,may #be1 #bjag,ms4 ,collins introduced the following bill2 which was read twice and referred to the ,committee on ,banking1 ,housing1 and ,urban ,affairs ,a ,,bill ,to amend the ,federal ,deposit ,insurance ,act to allow the ,federal ,deposit ,insurance ,corporation to exempt certain depository institutions from certain legal requirements1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,community ,bank ,sensible ,regulation ,act of #bjag4 #b4 ,exemptive authority for the ,federal ,deposit ,insurance ,corporation ,section #aj of the ,federal ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahbj7 is amended by adding at the end the following3 7l7 ,exemptive authority 7#a7 ,in general ,notwithstanding any other provision of law1 the ,corporation1 after considering the factors in paragraph 7#c71 may exempt by rule any depository institution having less than #aj1jjj1jjj1jjj in total assets from-- 7,a7 any provision of this ,act2 7,b7 any rule promulgated under this ,act2 or 7,c7 any rule promulgated under any other ,act that confers authority to the ,corporation4 7#b7 ,conditions ,the ,corporation may impose conditions on an exemption granted under paragraph 7#a74 7#c7 ,factors to consider ,in granting an exemption under paragraph 7#a71 the ,corporation shall consider1 as appropriate1 the extent to which-- 7,a7 the provision or rule would impose an unnecessary or undue burden or cost on the depository institution2 7,b7 the provision or rule is unnecessary or unwarranted in order to promote the safety and soundness of the depository institution2 and 7,c7 the exemption is necessary1 appropriate1 or consistent with the public interest4 7#d7 ,indexation of asset threshold ,the asset threshold identified in paragraph 7#a7 shall be increased annually at a percentage equal to the percentage change in the total aggregate assets of insured depository institutions for each #ab-month period ending in ,december of each year1 rounded to the nearest #aj1jjj1jjj4 4 #c4 ,exemptive authority for the ,office of the ,comptroller of the ,currency 7a7 ,exemptive authority with respect to national banks ,section #ebci;,a of the ,revised ,statutes 7#ab ,u4,s4,c4 #ic;a7 is amended-- 7#a7 by striking ,except and inserting the following3 7a7 ,in general ,except 2 and 7#b7 by adding at the end the following3 7b7 ,exemptive authority 7#a7 ,definition ,in this subsection1 the term insured depository institution has the meaning given the term in section #c7;c7 of the ,federal ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahac7;c774 7#b7 ,exemption ,notwithstanding any other provision of law1 the ,comptroller of the ,currency1 after considering the factors in paragraph 7#d71 may exempt by rule any national bank having less than #aj1jjj1jjj1jjj in total assets from-- 7,a7 any provision of this title2 7,b7 any rule promulgated under this title2 or 7,c7 any rule promulgated under any other title or ,act that confers authority to the ,comptroller4 7#c7 ,conditions ,the ,comptroller of the ,currency may impose conditions on an exemption granted under paragraph 7#b74 7#d7 ,factors to consider ,in granting an exemption under paragraph 7#b71 the ,comptroller of the ,currency shall consider1 as appropriate1 the extent to which-- 7,a7 the provision or rule would impose an unnecessary or undue burden or cost on the national bank2 7,b7 the provision or rule is unnecessary or unwarranted in order to promote the safety and soundness of the national bank2 and 7,c7 the exemption is necessary1 appropriate1 or consistent with the public interest4 7#e7 ,indexation of asset threshold ,the asset threshold identified in paragraph 7#a7 shall be increased annually at a percentage equal to the percentage change in the total aggregate assets of insured depository institutions for each #ab-month period ending in ,december of each year1 rounded to the nearest #aj1jjj1jjj4 4 7b7 ,exemptive authority with respect to savings associations ,section #d7;a7 of the ,home ,owners' ,loan ,act 7#ab ,u4,s4,c4 #adfc7;a77 is amended by adding at the end the following3 7#d7 ,exemptive ,authority 7,a7 ,definition ,in this paragraph1 the term insured depository institution has the meaning given the term in section #c7;c7 of the ,federal ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahac7;c774 7,b7 ,exemption ,notwithstanding any other provision of law1 the ,comptroller1 after considering the factors in subparagraph 7,d71 may exempt by rule any savings association having less than #aj1jjj1jjj1jjj in total assets from-- 7i7 any provision of this ,act2 7ii7 any rule promulgated under this ,act2 or 7iii7 any rule promulgated under any other ,act that confers authority on the ,comptroller4 7,c7 ,conditions ,the ,comptroller may impose conditions on an exemption granted under subparagraph 7,b74 7,d7 ,factors to consider ,in granting an exemption under subparagraph 7,b71 the ,comptroller shall consider1 as appropriate1 the extent to which-- 7i7 the provision or rule would impose an unnecessary or undue burden or cost on the savings association2 7ii7 the provision or rule is unnecessary or unwarranted in order to promote the safety and soundness of the savings association2 and 7iii7 the exemption is necessary1 appropriate1 or consistent with the public interest4 7,e7 ,indexation of asset threshold ,the asset threshold identified in subparagraph 7,b7 shall be increased annually at a percentage equal to the percentage change in the total aggregate assets of insured depository institutions for each #ab-month period ending in ,december of each year1 rounded to the nearest #aj1jjj1jjj4 4 #d4 ,exemptive authority for the ,board of ,governors of the ,federal ,reserve system 7a7 ,exemptive authority with respect to ,state member banks ,section #aa of the ,federal ,reserve ,act 7#ab ,u4,s4,c4 #bdh7 is amended-- 7#a7 by redesignating the second subsection 7s7 7relating to assessments1 fees1 and other charges for certain companies7 as subsection 7t72 and 7#b7 by adding at the end the following3 7u7 ,exemptive authority 7#a7 ,definition ,in this section1 the term insured depository institution has the meaning given the term in section #c7;c7 of the ,federal ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahac7;c774 7#b7 ,exemption ,notwithstanding any other provision of law1 the ,board1 after considering the factors in paragraph 7#d71 may exempt by rule any ,state member bank having less than #aj1jjj1jjj1jjj in total assets from-- 7,a7 any provision of this ,act2 7,b7 any rule promulgated under this ,act2 or 7,c7 any rule promulgated under any other ,act that confers authority on the ,board4 7#c7 ,conditions ,the ,board may impose conditions on an exemption granted under paragraph 7#b74 7#d7 ,factors to consider ,in granting an exemption under paragraph 7#b71 the ,board shall consider1 as appropriate1 the extent to which-- 7,a7 the provision or rule would impose an unnecessary or undue burden or cost on the ,state member bank2 7,b7 the provision or rule is unnecessary or unwarranted in order to promote the safety and soundness of the ,state member bank2 and 7,c7 the exemption is necessary1 appropriate1 or consistent with the public interest4 4 7#e7 ,indexation of asset threshold ,the asset threshold identified in paragraph 7#b7 shall be increased annually at a percentage equal to the percentage change in the total aggregate assets of insured depository institutions for each #ab-month period ending in ,december of each year1 rounded to the nearest #aj1jjj1jjj4 4 7b7 ,exemptive authority with respect to bank holding companies ,the ,bank ,holding ,company ,act of #aief 7#ab ,u4,s4,c4 #ahda et seq47 is amended by adding at the end the following3 #ae4 ,exemptive ,authority 7a7 ,definition ,in this section1 the term insured depository institution has the meaning given the term in section #c7;c7 of the ,federal ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahac7;c774 7b7 ,exemption ,notwithstanding any other provision of law1 the ,board1 after considering the factors in subsection 7d71 may exempt by rule any bank holding company having less than #aj1jjj1jjj1jjj in total assets from-- 7#a7 any provision of this ,act2 7#b7 any rule promulgated under this ,act2 or 7#c7 any rule promulgated under any other ,act that confers authority on the ,board4 7c7 ,conditions ,the ,board may impose conditions on an exemption granted under subsection 7b74 7d7 ,factors ,to consider ,in granting an exemption under subsection 7b71 the ,board shall consider1 as appropriate1 the extent to which-- 7#a7 the provision or rule would impose an unnecessary or undue burden or cost on the bank holding company2 7#b7 the provision or rule is unnecessary or unwarranted in order to promote the safety and soundness of the bank holding company2 and 7#c7 the exemption is necessary1 appropriate1 or consistent with the public interest4 7e7 ,indexation of asset threshold ,the asset threshold identified in subsection 7b7 shall be increased annually at a percentage equal to the percentage change in the total aggregate assets of insured depository institutions for each #ab-month period ending in ,december of each year1 rounded to the nearest #aj1jjj1jjj4 4 7c7 ,exemptive authority for savings and loan holding companies and mutual holding companies ,section #aj of the ,home ,owners' ,loan ,act 7#ab ,u4,s4,c4 #adfg;a7 is amended by adding at the end the following3 7u7 ,exemptive authority 7#a7 ,definitions ,in this subsection-- 7,a7 the term insured depository institution has the meaning given the term in section #c7;c7 of the ,federal ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahac7;c772 and 7,b7 the term mutual holding company has the meaning given the term in subsection 7o77#aj77;,a74 7#b7 ,exemption ,notwithstanding any other provision of law1 the ,board1 after considering the factors in paragraph 7#d71 may exempt by rule any savings and loan holding company or any mutual holding company having less than #aj1jjj1jjj1jjj in total assets from-- 7,a7 any provision of this ,act2 7,b7 any rule promulgated under this ,act2 or 7,c7 any rule promulgated under any other ,act that confers authority on the ,board4 7#c7 ,conditions ,the ,board may impose conditions on an exemption granted under paragraph 7#b74 7#d7 ,factors to consider ,in granting an exemption under paragraph 7#b71 the ,board shall consider the extent to which-- 7,a7 the provision or rule would impose an unnecessary or undue burden or cost on the savings and loan holding company or the mutual holding company2 7,b7 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 company2 and 7,c7 the exemption is necessary1 appropriate1 or consistent with the public interest4 7#e7 ,limitation ,the authority granted to the ,board under paragraph 7#b7 shall not apply with respect to a savings and loan holding company described in subsection 7c77#i77;,c74 7#f7 ,indexation of asset threshold ,the asset threshold identified in paragraph 7#b7 shall be increased annually at a percentage equal to the percentage change in the total aggregate assets of insured depository institutions for each #ab-month period ending in ,december of each year1 rounded to the nearest #aj1jjj1jjj4 4