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Committee advances study bill to examine barriers facing rural depository institutions
Summary
The committee adopted an amendment in the nature of a substitute to HR 6536, the Rural Depository Revitalization Study Act, directing federal prudential regulators to jointly study regulatory barriers to growth and formation of rural depository institutions and deliver a report to Congress within one year.
Rep. Ralph Norman (as sponsor identified in the clerk's reading) introduced HR 6536, the Rural Depository Revitalization Study Act, which would require federal prudential regulators to jointly study ways to improve growth, capital adequacy and profitability of rural depository institutions and identify regulatory barriers to new de novo charters.
Norman told the committee the measure seeks to determine whether…
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