Summary
Supervisory Modifications for Appropriate Risk-based Testing Act of 2025 or the SMART Act of 2025
This bill limits the scope of certain examinations and combines oversight procedures for certain small depository institutions and credit unions.
Specifically, depository institutions and credit unions that are considered well-capitalized and well-managed (per their most recent examination) with assets of $6 billion or less must receive a limited-scope examination, as determined by the appropriate federal regulator, in the year following a full-scope examination. In addition, upon request by the depository institution or credit union, the regulator must combine separate compliance examinations (e.g., safety and soundness examinations and information technology examinations) and perform them at the same time.
The bill provides exceptions for recently acquired depository institutions and for depository institutions and credit unions subject to certain formal enforcement proceedings or orders.
Related bills
Related
Bill text versions
- IntroducedIntroduced in HousePDF
- IntroducedIntroduced in HouseXML
- IntroducedIntroduced in HouseHTML
- ReportedReported in HousePDF
- ReportedReported in HouseXML
- ReportedReported in HouseHTML
- EngrossedEngrossed in HousePDF
- EngrossedEngrossed in HouseXML
- EngrossedEngrossed in HouseHTML
- ReceivedReferred in SenatePDF
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Legislative Journey
- Introduced
- Committee
- Floor
- Passed Chamber 1
- Passed Chamber 2
- Signed
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
SenateMotion to reconsider laid on the table Agreed to without objection.
HouseOn motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H3353-3354)
HousePassed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H3353-3354)
DEBATE - The House proceeded with forty minutes of debate on H.R. 4437.
HouseConsidered under suspension of the rules. (consideration: CR H3353-3356)
HouseMr. Hill (AR) moved to suspend the rules and pass the bill, as amended.
HousePlaced on the Union Calendar, Calendar No. 206.
HouseReported (Amended) by the Committee on Financial Services. H. Rept. 119-249.
HouseReported (Amended) by the Committee on Financial Services. H. Rept. 119-249.
Ordered to be Reported (Amended) by the Yeas and Nays: 53 - 1.
HouseCommittee Consideration and Mark-up Session Held
HouseReferred to the House Committee on Financial Services.
HouseIntroduced in House
Introduced in House