Federal Savings Association Charter Flexibility Act of 2017

Bill 115 hr 1426, also known as the Federal Savings Association Charter Flexibility Act of 2017, is a piece of legislation that aims to provide greater flexibility to federal savings associations in terms of their charter requirements. The bill was introduced in the House of Representatives on March 8, 2017, by Representative Keith Rothfus of Pennsylvania.

The main purpose of this bill is to allow federal savings associations to elect to operate as national banks without having to go through the process of obtaining a national bank charter. This would give these institutions more options in terms of how they are regulated and supervised, potentially leading to increased competition and innovation in the banking industry.

Additionally, the bill seeks to streamline the regulatory process for federal savings associations by eliminating certain outdated and burdensome requirements. This would make it easier for these institutions to adapt to changing market conditions and better serve their customers. Overall, the Federal Savings Association Charter Flexibility Act of 2017 aims to modernize and simplify the regulatory framework for federal savings associations, ultimately benefiting both these institutions and the consumers they serve.