Banking

Rep. Mooney presents ABA-backed expense to assist little banks raise capital

Rep. Alex Mooney (R-W.Va.) today presented a costs that would raise the limit for little bank holding business from $3 billion to $10 billion. The ABA-backed expense, H.R. 4346, would allow more banks to run at greater financial obligation levels, which can permit them to raise capital more inexpensively. The expense does not alter capital guidelines and guidelines for subsidiary banks. Five House Republicans likewise co-sponsored the expense.

“This important legislation will strengthen America’s community banks by making it easier for smaller institutions to issue debt and bolster their capital,” stated ABA President and CEO Rob Nichols. “The bill will allow community banks to better meet the needs of their customers, clients and communities, while preserving their commitment to safety and soundness. We thank Rep. Mooney and the other co-sponsors for their leadership on this legislation and look forward to its timely consideration.”

Gabriel

A news media journalist always on the go, I've been published in major publications including VICE, The Atlantic, and TIME.

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