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H.R. 5786 113th Congress House

Small Financial Institutions Regulatory Relief Act of 2014

Official title: To amend certain banking statutes to exempt community banks from certain regulatory requirements, to include a community bank representative in the membership … Show full official titleShow less

Official title: To amend certain banking statutes to exempt community banks from certain regulatory requirements, to include a community bank representative in the membership of the Board of Governors of the Federal Reserve System, to create a process for a county to be designated as a rural area, and for other purposes.

Introduced: December 3, 2014 Introduced by: James Lankford Republican · Oklahoma See on congress.gov
Finance and Financial Sector Administrative law and regulatory proceduresAdministrative remediesBank accounts, deposits, capitalBanking and financial institutions regulation
More subjectsShow fewer subjects
Consumer Financial Protection BureauConsumer affairsConsumer creditFederal Reserve SystemFederal officialsHousing finance and home ownershipReal estate businessRight of privacyRural conditions and developmentSmall business
This bill died when the 113th Congress ended
It never became law before the 113th Congress (2013–2014) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 3, 2014
Referred to the House Committee on Financial Services.
Dec 3, 2014
Introduced in House
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 Latest action December 3, 2014

Referred to the House Committee on Financial Services.

 Plain-English summary Congressional Research Service

Small Financial Institutions Regulatory Relief Act of 2014 - Amends the Truth in Lending Act (TILA), with respect to minimum standards for residential mortgage loans and the presumption of ability to repay, to treat as a "qualified mortage" any residential mortgage loan made by a creditor having less than $10 billion in total assets, so long as the loan is originated and retained in creditor's portfolio for the duration of the loan term.

Directs the Consumer Financial Protection Bureau (CFPB) to exempt a creditor with assets of less than $10 billion from the requirement to establish escrow or impound accounts for the payment of taxes and hazard insurance before consummating a consumer credit transaction secured by a first lien on the principal dwelling of the consumer.

Amends the Real Estate Settlement Procedures Act of 1974 to direct the CFPB to provide either exemptions to, or adjustments from, its mortgage loan servicing and escrow account administration requirements for servicers that service fewer than 10,000 mortgage loans annually.

Amends the Gramm-Leach-Bliley Act to exempt from its annual privacy policy notice requirement a financial institution that: (1) provides nonpublic personal information only in accordance with specified requirements, and (2) has not changed its policies and practices with regard to disclosing nonpublic personal information from those disclosed in its most recent disclosure to consumers.

Directs the Board of Governors of the Federal Reserve System to publish in the Federal Register proposed revisions to the Small Bank Holding Company Policy Statement on the Assessment of Financial and Managerial Factors that: (1) apply that policy to bank holding companies having pro forma consolidated assets of less than $5 billion (adjusted annually), no engagement in nonbanking activities involving significant leverage, and no significant amount of outstanding debt; and (2) increase from 1.1 to 3.1 the debt-to-equity ratio allowable for a small bank holding company in order to retain its eligibility both to pay a corporate dividend and to implement expedited processing procedures under the Board's Regulation Y.

Amends the Federal Reserve Act to require the Board to have at all times at least one member with demonstrated experience working in or supervising community banks having less than $10 billion in total assets.

Directs the CFPB to establish an application process under which a person who lives or does business in a state may apply to have an area in the state identified as rural if it has not yet been so designated for purposes of federal consumer financial law.

Prescribes criteria for the CFPB to consider when evaluating an application. Requires the CFPB to: (1) grant or deny the application within 90 days after the public comment period ends; and (2) publish the grant or denial in the Federal Register.

 Related & companion bills 5
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). H.R. 5786: Small Financial Institutions Regulatory Relief Act of 2014. 113th Congress. Open America. https://openamerica.io/bill/113-HR-5786/
MLA
"H.R. 5786: Small Financial Institutions Regulatory Relief Act of 2014." 113th Congress, 2026, Open America, https://openamerica.io/bill/113-HR-5786/.
Bluebook (legal)
H.R. 5786, 113th Cong. (2026), https://openamerica.io/bill/113-HR-5786/.
Markdown link
[H.R. 5786: Small Financial Institutions Regulatory Relief Act of 2014](https://openamerica.io/bill/113-HR-5786/)
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