{"database": "press", "table": "releases", "rows": [["https://hill.house.gov/media-center/press-releases/hill-votes-increase-access-credit-small-businesses-and-consumers", "Hill Votes to Increase Access to Credit for Small Businesses and Consumers", "2016-12-01", "2016", "2016-12", "Republican", "House", "AR", "French Hill", "H001072", "hill.house.gov", null, null, "legacy", "WASHINGTON \u2013 Today, the House passed H.R. 6392, the Systemic Risk Designation Improvement Act of 2016. \u00a0A previous version of the bipartisan bill passed the House Financial Services Committee in November of last year by a vote of 39-16. Under current law, a financial instruction is automatically designated as a systemically important financial institution (SIFI) if it has $50 billion in assets. Because of this arbitrary threshold, regional and large community banks are subject to the same level of regulation as complex, trillion-dollar banks, creating an unnecessary burden that affects consumer access to credit and services.\nThis bill would remove the arbitrary SIFI threshold and replace it with an evaluative \u00a0process that takes into account factors other than size, including complexity and interconnectedness, to determine whether an institution poses a threat to U.S. economic stability.\nHill said: \u201cThis bill today is not about dangerous agendas, greed or signing bonuses, or wholesale exemptions of regulation for 27 big banks \u2013 not at all. This bill is about using common sense and taking off the autopilot that\u2019s in Dodd-Frank, which designates our SIFIs on size alone, and in fact, includes all the factors that should be considered for institutions that might present a systemic risk.\n\u201cThis is a bipartisan bill that has support on both sides of the aisle. Former Chairman [Barney Frank\u2019s] comments have been read into the record, but how about [Federal Reserve Board Member] Dan Tarullo, who said: \u2018Resolution planning and \u00ad\u00ad\u00adquite elaborate requirements of our supervisory stress do not seem to me to be necessary for banks between $50 billion and $100 billion.\u2019 Tom Curry, our Comptroller of the Currency said: \u2018The better approach is to use an asset figure as a first screen and then give discretion to supervisors based on risks in the business plan and operations.\u2019 And Senator Sherrod Brown, certainly a supporter of Dodd-Frank said: \u2018I do not agree that some banks over $50 billion should be regulated like Wall Street mega-banks.\u2019 I support this bill, and I yield back.\u201d\n\u00a0\n\u00a0\n###", 1, "2026-03-30T12:14:52Z", "2026-03-30T12:14:52Z"]], "columns": ["url", "title", "date", "year", "month", "party", "chamber", "state", "member_name", "bioguide_id", "domain", "scraper", "source", "date_source", "text", "has_text", "collected_at", "updated_at"], "primary_keys": ["url"], "primary_key_values": ["https://hill.house.gov/media-center/press-releases/hill-votes-increase-access-credit-small-businesses-and-consumers"], "units": {}, "query_ms": 3.910335712134838, "source": "dwillis/congress-press", "source_url": "https://github.com/dwillis/congress-press", "license": "MIT", "license_url": "https://github.com/dwillis/congress-press/blob/main/LICENSE"}