H.R. 6955

In brief

This bill reduces federal oversight and capital requirements for various financial institutions, focusing on community and rural banks. It allows new banks three years to meet specific capital standards, lowers leverage ratios for rural lenders, and permits regulators to approve certain bank mergers without reviewing their potential for creating monopolies. Additionally, the legislation raises asset thresholds for various fees and reporting requirements, exempting more small bank holding companies from strict debt limits. Introduced by Representative J. French Hill (R-AR), the bill has passed the House and now moves to the Senate for consideration.