releases: https://www.budd.senate.gov/2026/02/11/icymi-budds-trust-act-gains-strong-support-across-leading-bank-trade-groups/
Data license: MIT · Data source: dwillis/congress-press
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| url | title | date | year | month | party | chamber | state | member_name | bioguide_id | domain | scraper | source | date_source | text | has_text | collected_at | updated_at |
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| https://www.budd.senate.gov/2026/02/11/icymi-budds-trust-act-gains-strong-support-across-leading-bank-trade-groups/ | ICYMI: Budd’s TRUST Act Gains Strong Support Across Leading Bank Trade Groups | 2026-02-11 | 2026 | 2026-02 | Republican | Senate | NC | Ted Budd | B001305 | www.budd.senate.gov | budd | https://www.budd.senate.gov/category/news/press-releases/page/ | scraper | Washington, D.C. — U.S. Senator Ted Budd’s (R-N.C.) bipartisan Tailored Regulatory Updates for Supervisory Testing (TRUST) Act, aimed at increasing the examination threshold for well-managed institutions from $3 billion to $6 billion in total assets to qualify for an extended 18-month exam cycle. The TRUST Act would allow qualifying community banks to focus more on providing financial resources to Main Street, such as small-business lending and home mortgages. This landmark legislation has gained widespread support across major banking associations: “We thank Sen. Budd and Sen. Kim for introducing the TRUST Act and appreciate their leadership on this important issue. This legislation will help ensure bank regulations remain right-sized and that the examination process is appropriately tailored for community banks. We look forward to working with members of Congress and other stakeholders to move this commonsense bill forward as we continue our efforts to ensure statutory asset thresholds are indexed for growth so they remain relevant and effective over time,” said Rob Nichols, President and CEO, American Bankers Association (ABA). “ICBA and the nation’s community bankers strongly support the Tailored Regulatory Updates for Supervisory Testing (TRUST) Act and thank Sens. Budd and Kim for introducing this critical legislation in the Senate. Raising the 18-month examination cycle asset threshold from $3 billion to $6 billion will help address needlessly excessive regulatory burdens on community banks. Following House passage of this policy on a 390-9 vote as part of bipartisan housing affordability legislation, we encourage the Senate to advance this common-sense reform,” said Rebeca Romero Rainey, President and CEO, Independent Community Bankers of America (ICBA). “The introduction of a bipartisan Senate companion to the TRUST Act is an important step toward modernizing bank supervision in a way that reflects today’s financial landscape. We commend Senator Budd and the bill’s bipartisan sponsors for their leadership in advancing a thoughtful, targeted approach to regulatory modernization. By updating the asset threshold for extended examination cycles, the TRUST Act preserves strong safety and soundness standards while reducing unnecessary regulatory friction for well-managed community banks, allowing them to focus resources on serving customers, supporting local economies, and partnering responsibly to expand access to safe, affordable financial services,” said Phil Goldfeder, CEO, American Fintech Council (AFC). Read more about the TRUST Act HERE. ### | 1 | 2026-03-31T05:33:41Z | 2026-03-31T05:34:51Z |