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S. 3502 116th Congress Senate

Community Bank Regulatory Relief Act

Official title: A bill to delay the implementation date of the current expected credit losses methodology for estimating allowances for credit losses, and for other purposes.

Introduced: March 16, 2020 Introduced by: Kevin Cramer Republican · North Dakota See on congress.gov
Finance and Financial Sector Accounting and auditingAdministrative law and regulatory proceduresBank accounts, deposits, capitalBanking and financial institutions regulation
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Commodity Futures Trading CommissionConsumer Financial Protection BureauCredit and credit marketsDepartment of the TreasuryFederal Deposit Insurance Corporation (FDIC)Federal Housing Finance AgencyFederal Reserve SystemNational Credit Union AdministrationSecurities and Exchange Commission (SEC)
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This bill died when the 116th Congress ended
It never became law before the 116th Congress (2019–2020) 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
Mar 16, 2020
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Mar 16, 2020
Introduced in Senate
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 Latest action March 16, 2020

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Plain-English summary Congressional Research Service

Community Bank Regulatory Relief Act

This bill delays required compliance with certain accounting standards applicable to credit losses (i.e., current expected credit losses standards, also known as CECL standards). Specifically, no agency may require a person to comply with this standard with respect to a fiscal year beginning before December 31, 2024.

Additionally, the community bank leverage ratio is set at 8% for community banks seeking to satisfy simplified capital adequacy requirements. Currently, banking agencies are required to set the rate between 8% and 10% through rulemaking.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 4
All 4 Republican 4
R
Scott, Tim
South Carolina · Mar 18, 2020
 R
Cotton, Tom
Arkansas · Mar 16, 2020
 R
Moran, Jerry
Kansas · Mar 16, 2020
 R
Tillis, Thomas
North Carolina · Mar 16, 2020
Cite this page click to expand
APA
U.S. Congress. (2026). S. 3502: Community Bank Regulatory Relief Act. 116th Congress. Open America. https://openamerica.io/bill/116-S-3502/
MLA
"S. 3502: Community Bank Regulatory Relief Act." 116th Congress, 2026, Open America, https://openamerica.io/bill/116-S-3502/.
Bluebook (legal)
S. 3502, 116th Cong. (2026), https://openamerica.io/bill/116-S-3502/.
Markdown link
[S. 3502: Community Bank Regulatory Relief Act](https://openamerica.io/bill/116-S-3502/)
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