Small LENDER Act

The Small LENDER Act, also known as Bill 118 hr 1806, is a piece of legislation currently being considered by the US Congress. The purpose of this bill is to provide regulatory relief for small lenders, specifically those with assets of $50 billion or less.

The main provisions of the Small LENDER Act include:

1. Exempting small lenders from certain regulatory requirements that are currently imposed on larger financial institutions. This is intended to reduce the compliance burden on small lenders and allow them to focus more on serving their customers. 2. Streamlining the examination process for small lenders, making it more efficient and less time-consuming. This is aimed at reducing the regulatory burden on small lenders and allowing them to allocate resources more effectively. 3. Providing small lenders with greater flexibility in meeting regulatory requirements, such as capital and liquidity standards. This is intended to give small lenders more room to operate and grow their businesses without being overly constrained by regulatory requirements. Overall, the Small LENDER Act is designed to support small lenders and help them thrive in the competitive financial services industry. It aims to strike a balance between ensuring the safety and soundness of the financial system and allowing small lenders to operate in a way that is conducive to their growth and success.