Illinois Bankers Association

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Regulatory Reform Bill Passes US Senate


Joint Letter of Support for S. 2155

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March 14, 2018 Update - Regulatory Reform Bill Passes U.S. Senate

S. 2155, the bipartisan Senate regulatory reform package, passed the Senate by a 67-31 vote.  The bill includes many long-standing IBA financial reform priorities including:


  • Providing Qualified Mortgage designation for mortgages held in portfolio by banks with less than $10 billion in assets
  • Simplifying capital calculations for community banks
  • Reforming appraisal requirements for certain mortgages
  • Raising the “systemically important” designation threshold
  • Ending stress tests for banks with under $100 billion in assets
  • Adding longer exam cycles for community banks
  • Providing charter flexibility for federal thrifts with less than $20 billion in assets

Read more highlights of the bill. The IBA will urge the U.S. House to act quickly to move the reform bill to the President’s desk.



  • March 6, 2018 Update - A strong bipartisan vote in the Senate has brought S2155 -- the Regulatory Relief 
    bill -- one step closer to reality. Thank you to the Senate for voting to move this critical legislation forward.


  • Senate Unveils Bi-Partisan Regulatory Reform Package

    Senate Banking Committee Chairman Mike Crapo (R-Idaho) has brokered a Senate bi-partisan regulatory reform package. The package includes QM relief, HMDA relief, exemptions for certain escrow requirements under TILA, capital simplification for banks under $10 billion, exemptions for reciprocal deposits, an increase in the asset threshold for the 18-month exam cycle, and the raising of the SIFI designation threshold to $250 billion. While the IBA does not support the creation of additional asset thresholds, we are encouraged by this first step to provide meaningful regulatory reform that has bi-partisan support. 

    The IBA will continue our advocacy efforts and we hope that you will join us in urging our Illinois delegation to pass bi-partisan regulatory relief. You can write a letter to your member of congress here.

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