Senator Susan M Collins [R-ME] on July 21, 2015 introduced S. 1799, The Community Bank Sensible Regulation Act. The legislation would allow for . . .
On Wednesday, July 23, 2014, the House Financial Services Committee will hold a hearing entitled “Assessing the Impact of the Dodd-Frank Act Four . . .
The Subchapter S Capital Access Coalition and Task Force has been organized for the specific purpose of increasing opportunities for banks, thrifts, trust companies and their parent holding companies that have elected Subchapter S federal tax treatment to raise capital and ensure the health and future success of their organizations. Our goal is to enact legislation that would (i) allow Subchapter S banks to issue “qualified preferred stock” and (ii) increase the maximum number of allowable S corporation bank shareholders from 100 to 500. Both measures are designed to enable S corporation banks, the majority of which are community banks, to significantly improve their ability to access vital sources of capital already available to other types of financial institutions. Given the significant limitations S corporation banks face in raising capital and the continued challenges associated with the economy and increasing regulation, both measures would alleviate many of the concerns currently facing S corporation banks.
All too often Washington completely forgets about Subchapter S banks and their special needs and circumstances. We’ve seen it first-hand with the original . . .
On behalf of the Subchapter S Bank Association we have sent a letter to Chair Yellen, Comptroller Curry and Chairman Gruenberg expressing our continued concern regarding the unequal treatment depository institutions and their holding companies that elect to be taxed under Subchapter S of the Internal Revenue Code (IRC) receive compared to their peers taxed under Subchapter C, especially when considered in the context of the capital conservation buffer rules presently contained in Basel III and regulatory dividend restriction policy.
A study was recently published by The Mercatus Center at George Mason University on the effects of Dodd-Frank on small banks, defined as banks with less than $10 billion in assets each serving mostly rural and small metropolitan areas. The 96 question, web based survey relied on responses from about 200 banks across 41 states and was conducted between July 2013 and September 2013. A large majority (65.6%) of respondents viewed Dodd-Frank as more burdensome than the Bank Secrecy Act, and the participating banks reported substantially increased compliance costs in the wake of new regulations.
CFPB is questioning whether to increase the data collected under the Home Mortgage Disclosure Act to better monitor trends and abuses in the market. This would possibly requiring lenders to explain why they rejected a loan and whether they thought it was a so-called “qualifying mortgage.” In addition, financial institutions would have disclose an applicant’s debt-to-income ration, the interest rate, the total origination charges, and the total discount points of the loan.
Six federal financial regulatory agencies today issued a final rule that creates exemptions from certain appraisal requirements for a subset of higher-priced mortgage loans. The exemptions are intended to save borrowers time and money while still ensuring that the loans are financially sound.
The federal bank regulatory agencies today released an estimation tool to help community banks understand the potential effects of the recently revised regulatory capital framework on their capital ratios. The revised framework implements the Basel III regulatory capital reforms and certain changes required by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.