S. 1233 · 116th Congress
Community Bank Access to Capital Act of 2019
- Stage
- In committee
- Sponsor
- Mike Rounds
- Introduced
- 2019-04-30
- Latest action
- 2019-04-30 · Introduced in Senate
Summary
Community Bank Access to Capital Act of 2019
This bill creates an exemption from internal control report attestation requirements for depository institutions with assets less than $5 billion. These institutions are also exempt from certain annual reports on financial condition and management.
The Securities and Exchange Commission must revise Regulation D (which exempts certain offerings from securities registration requirements) to (1) raise the limit on the number of purchasers of securities, and (2) include a person's primary residence as an asset used in determining whether a person is an accredited investor eligible to participate in these offerings.