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Today, Congressman French Hill (AR-02) introduced the Community Bank Access to Capital Act of 2017, which further increases the ability of community banks in Arkansas and across the Nation to extend credit to hardworking Arkansans and Americans. Rep. Hill issued the following statement:

“Having spent two decades in community banking in Arkansas, I understand the importance of being able to extend credit to hardworking Arkansans. This bill attempts to relieve community banks from excessive and unnecessary regulatory burdens with the intent of improving their ability to extend credit in hometown communities across Arkansas and the Nation. I am pleased to have worked with my colleague, Representative David Scott (D-GA), to take the first step in improving our community banks’ ability to lend.”

Background Information:

The Community Bank Access to Capital Act of 2017 would do the following:

1. Exempt community banks with $50 billion or less in assets from the Basel III capital rules.

2. Increase the Small Bank Holding Company Policy Statement qualifying asset threshold from $1 billion to $3 billion.

3. Exempt publicly held community banks with less than $1 billion in assets from the Sarbanes-Oxley Act’s internal control attestation requirements.

4. Preserve current Securities and Exchange Commission rules regarding the definition of “unaccredited investor.”