The House Financial Services Committee plans to tackle a slate of community bank-focused bills today, May 16.

Starting at 10 a.m. EDT, the committee will consider a total of 11 bills, several of which  might benefit mutual banks. They are:

• H.R. 758: Sponsored by Rep. Andy Barr (R-Ky.), Promoting Access to Capital in Underbanked Communities Act of 2023 aims to boost the creation of de novo banks by providing flexibility around capital, lending, and regulation. The Bill would phase in capital compliance over three years.

• H.R. 3161: Jointly introduced by Reps. John Rose (R-Tenn.) and Brittany Pettersen (D-Colo.), the CDFI Fund Transparency Act would require annual testimony on CDFI Fund operations from the Treasury Department.

• H.R. 4346: Rep. Alex Mooney’s (R-W.Va.) bill would raise the qualifying asset threshold from $3 billion to $10 billion. This Bill would be a significant benefit to MHCs approaching the current threshold eliminating an artificial barrier to their further growth. It would also encourage more debt issuance by holding companies and down streaming of borrowed money as equity.