December 10, 2025
Ms. De La Cruz introduced the following bill; which was referred to the Committee on Financial Services
To amend the Federal Reserve Act to specify additional responsibilities of the member of the Board of Governors of the Federal Reserve System who was appointed as the member with experience working in or supervising community banks, and for other purposes.
Section 1. Short title
This Act may be cited as the Community Bank Representation Act
.
Sec. 2. Community bank member of the Board of Governors
(a) Federal Reserve Act
Section 10 of the Federal Reserve Act is amended—
(1)
in the first undesignated paragraph (12 U.S.C. 241), by striking having less than $10,000,000,000 in total assets
;
(2)
in the second undesignated paragraph (12 U.S.C. 242), by inserting after regulation of such firms.
the following: The Chairman shall select one member of the Board with demonstrated primary experience working in or supervising community banks to develop policy recommendations for the Board regarding supervision and regulation of banking organizations supervised by the Board having less than $17,000,000,000 in total assets, and to oversee the supervision and regulation of such banking organizations.
;
(3)
in paragraph (12) (12 U.S.C. 247b)—
(A)
by striking The Vice Chairman for Supervision
and inserting the following:
(A) Vice Chairman for Supervision
The Vice Chairman for Supervision;
(B)
by striking and at
and inserting at
; and
(C)
by adding at the end the following:
(B) Community bank member
The member of the Board with demonstrated primary experience working in or supervising community banks selected by the Chairman to develop policy recommendations for the Board regarding supervision and regulation of banking organizations supervised by the Board having less than $17,000,000,000 in total assets, and to oversee the supervision and regulation of such banking organizations, if different than the Vice Chairman for Supervision, shall appear before the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives at semi-annual hearings regarding the efforts, activities, objectives, and plans of the Board with respect to the conduct of supervision and regulation of banking organizations supervised by the Board having less than $17,000,000,000 in total assets.; and
(4)
by adding at the end the following:
(13) Member of the Board for community banks annual threshold adjustment
(A) In general
At the end of each year for which the nominal gross domestic product of the United States increases (a
covered year), the Board shall adjust each dollar figure described in the second undesignated paragraph of this section, paragraph (12)(B) of this section, and section 1004(a)(3) of the Federal Financial Institutions Examination Council Act of 1978 by a percentage equal to the percentage increase (if any) between—(i)
the nominal gross domestic product of the United States for the year, during the preceding 5 years, with respect to which the nominal gross domestic product of the United States was the highest; and
(ii)
the nominal gross domestic product of the United States for the covered year.
(B) Determination of GDP
In this paragraph, the Board shall use nominal gross domestic product statistics determined by the Bureau of Economic Analysis.
(b) Federal Financial Institutions Examination Council Act of 1978
Section 1004(a)(3) of the Federal Financial Institutions Examination Council Act of 1978 (12 U.S.C. 3303(a)(2)) is amended by adding at the end the following: and such Governor shall consult with the Governor with demonstrated primary experience working in or supervising community banks selected by the Chairman of the Board to develop policy recommendations for the Board regarding supervision and regulation of banking organizations supervised by the Board having less than $17,000,000,000 in total assets, and to oversee the supervision and regulation of such banking organizations,
.