Bill From Blunt Seeks Reg Relief For Community Banks

Legislation would strengthen economic growth in small, rural areas

Sen. Roy Blunt has introduced legislation to support and strengthen lending in local communities.

The Community Bank Access to Capital Act of 2017 would roll back burdensome financial regulations to make it easier for community banks to serve their customers, who often reside in rural areas with fewer available lending options.

Blunt and Sen. Mike Rounds, R-S.D., introduced S. 1962 on Oct. 16. A significant portion of this legislation was introduced by the senators during the previous session of Congress.

“Missouri’s community banks play a critical role in keeping our state’s small businesses thriving,” Blunt said. “This bill will rein in excessive red tape and allow these banks to expand access to credit for Missouri families and local business owners. I urge all of my colleagues to support this measure and help strengthen economic growth in our small and rural communities.”

The Community Bank Access to Capital Act of 2017 would:
  • exempt community banks with $50 billion or less in assets from the Basel III capital rules
  • exempt community banks with less than $1 billion in assets from the Sarbanes-Oxley Act’s internal control attestation requirements
  • broaden the Securities and Exchange Commission Regulation D rule to make it easier for community banks to raise capital
  • make it easier for small banks to raise capital that can be used to help finance expansions
The Missouri Bankers Association thanks Sen. Blunt for his leadership on this issue. 
 
 Missouri Senator Roy Blunt meets with bankers with the Missouri Bankers Association in September 2017.
Sen. Roy Blunt listens to bankers from throughout Missouri discuss the progress of legislation in the U.S. Senate to provide regulatory relief for the banking industry. Blunt met with bankers Wednesday, Sept. 27, during MBA’s annual Washington visit. On Oct. 16, Blunt and Sen. Mike Rounds, R-S.D., introduced the Community Bank Access to Capital Act of 2017. The measure would strengthen economic growth in small rural communities by rolling back burdensome financial regulations to make it easier for community banks to serve their customers. Segs4Vets campaign. Since 2016, The Heroes Cup has raised nearly $18,750 for Segs4Vets.