HR 4437
· 119th Congress
· Finance and Financial Sector
SMART Act of 2025
Sponsor
Latest action
Placed on the Union Calendar, Calendar No. 206.
Action timeline
Every recorded action on this bill, newest first. Stage badges color-code the legislative path.
Sep 08, 2025
committee
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-249.
Financial Services Committee
Sep 08, 2025
other
Placed on the Union Calendar, Calendar No. 206.
Jul 22, 2025
committee
Committee Consideration and Mark-up Session Held
Financial Services Committee
Jul 22, 2025
committee
Ordered to be Reported (Amended) by the Yeas and Nays: 53 - 1.
Financial Services Committee
Jul 16, 2025
introduced
Introduced in House
Jul 16, 2025
introduced
Referred to the House Committee on Financial Services.
Financial Services Committee
CRS summaries
Plain-English summaries written by the Congressional Research Service — neutral, nonpartisan staff who summarize bills as they advance through stages. The authoritative description of what each version of the bill does.
00
Introduced in House
Jul 16, 2025
Supervisory Modifications for Appropriate Risk-based Testing Act of 2025 or the SMART Act of 2025
This bill limits the scope of certain examinations and combines oversight procedures for certain small depository institutions and credit unions.
Specifically, depository institutions and credit unions that are considered well-capitalized and well-managed (per their most recent examination) with assets of $6 billion or less must receive a limited-scope examination, as determined by the appropriate federal regulator, in the year following a full-scope examination. In addition, upon request by the depository institution or credit union, the regulator must combine separate compliance examinations (e.g., safety and soundness examinations and information technology examinations) and perform them at the same time.
The bill provides exceptions for recently acquired depository institutions and for depository institutions and credit unions subject to certain formal enforcement proceedings or orders.
via Congressional Research Service · published through congress.gov
Changelog
ⓘ
How a bill moves through Congress. Each stage produces a new official text. The diff between them shows what changed at that step.
ih / is — Introduced in House / Senate. First filed version.rfh / rfs — Referred to a committee for review.rh / rs — Reported back by the committee to the floor (often with amendments — this is where most language changes happen).pcs / pch — Placed on Calendar for floor consideration.eh / es — Engrossed. Passed by the originating chamber. Text is now what was actually voted on.rdh / rds — Received by the other chamber.eah / eas — Engrossed Amendment. The other chamber passed an amended version.ath / ats — Agreed to. Both chambers settled on the same text.enr — Enrolled. Final reconciled text, sent to the President.pl — Public Law. Signed by the President. It's now law.pp — Public Print. Official printing post-enactment.
Most bills die before eh/es. Going from pcs → enr is the full path through both chambers.
ⓘ
How a bill moves through Congress. Each stage produces a new official text. The diff between them shows what changed at that step.
ih/is— Introduced in House / Senate. First filed version.rfh/rfs— Referred to a committee for review.rh/rs— Reported back by the committee to the floor (often with amendments — this is where most language changes happen).pcs/pch— Placed on Calendar for floor consideration.eh/es— Engrossed. Passed by the originating chamber. Text is now what was actually voted on.rdh/rds— Received by the other chamber.eah/eas— Engrossed Amendment. The other chamber passed an amended version.ath/ats— Agreed to. Both chambers settled on the same text.enr— Enrolled. Final reconciled text, sent to the President.pl— Public Law. Signed by the President. It's now law.pp— Public Print. Official printing post-enactment.
Most bills die before eh/es. Going from pcs → enr is the full path through both chambers.
Line-level diff between text versions of this bill — what actually changed at each legislative stage.
+108
−2
20 unchanged
--- Introduced (House)
+++ Reported (House)
@@ -1,12 +1,15 @@
[From the U.S. Government Publishing Office]
-[H.R. 4437 Introduced in House (IH)]
+[H.R. 4437 Reported in House (RH)]
<DOC>
+Union Calendar No. 206
119th CONGRESS
1st Session
H. R. 4437
+[Report No. 119-249]
+
To reduce the regulatory burden on certain well managed and well
capitalized financial institutions, and for other purposes.
@@ -18,6 +21,15 @@
Mr. Timmons (for himself and Mr. Foster) introduced the following bill;
which was referred to the Committee on Financial Services
+
+September 8, 2025
+
+Reported with an amendment, committed to the Committee of the Whole
+House on the State of the Union, and ordered to be printed
+[Strike out all after the enacting clause and insert the part printed
+in italic]
+[For text of introduced bill, see copy of bill as introduced on July
+16, 2025]
_______________________________________________________________________
@@ -203,4 +215,98 @@
was found to be well managed, and the credit union's
composite condition was found to be satisfactory or
outstanding.''.
-<all>
+
+SEC. 3. EXAMINATION PRACTICES.
+
+(a) Insured Depository Institutions.--Section 10(d) of the Federal
+Deposit Insurance Act (12 U.S.C. 1820(d)), as amended by section 2(a),
+is further amended by adding at the end the following:
+``(12) Examination practices.--With respect to on-site
+examination of an insured depository institution with less than
+$6,000,000,000 in total assets, the appropriate Federal banking
+agency shall--
+``(A) ensure the examination is led by, to the
+maximum extent practicable, an examiner with
+significant experience as an examiner;
+``(B) make every effort, to the maximum extent
+practicable, to minimize the number of examiners
+utilized and the amount of time spent at the
+institution to carry out the examination;
+``(C) make every effort, to the maximum extent
+practicable, to schedule the examination at a time that
+is convenient for the institution; and
+``(D) to the maximum extent practicable, give the
+institution advance notice of issues expected to be
+covered in the examination.
+``(13) Report.--In its annual report to Congress, each
+Federal banking agency shall include--
+``(A) information on how the agency is complying
+with paragraphs (11) and (12); and
+``(B) aggregate data summarizing the agency's
+examination practices with respect to insured
+depository institutions with less than $6,000,000,000
+in total assets, including--
+``(i) the average experience of examiners,
+including the average number of years of
+examiner experience of those who lead on-site
+examinations;
+``(ii) the average number of examiners
+utilized; and
+``(iii) the average amount of time the
+agency spends visiting such institutions for
+on-site examinations.''.
+(b) Insured Credit Unions.--Section 204 of the Federal Credit Union
+Act (12 U.S.C. 1784), as amended by section 2(b), is further amended by
+adding at the end the following:
+``(i) Examination Practices.--With respect to on-site examination
+of an insured credit union with less than $6,000,000,000 in total
+assets, the National Credit Union Administration shall--
+``(1) ensure the examination is led by, to the maximum
+extent practicable, an examiner with significant experience as
+an examiner;
+``(2) make every effort, to the maximum extent practicable,
+to minimize the number of examiners utilized and the amount of
+time spent at the credit union to carry out the examination;
+``(3) make every effort, to the maximum extent practicable,
+to schedule the examination at a time that is convenient for
+the credit union; and
+``(4) to the maximum extent practicable, give the credit
+union advance notice of issues expected to be covered in the
+examination.
+``(j) Report.--In its annual report to Congress, the National
+Credit Union Administration shall include--
+``(1) information on how the Administration is complying
+with subsections (h) and (i); and
+``(2) aggregate data summarizing the Administration's
+examination practices with respect to insured credit unions
+with less than $6,000,000,000 in total assets, including--
+``(A) the average experience of examiners,
+including the average number of years of examiner
+experience of those who lead on-site examinations;
+``(B) the average number of examiners utilized; and
+``(C) the average amount of time the Administration
+spends visiting such credit unions for on-site
+examinations.''.
+Union Calendar No. 206
+
+119th CONGRESS
+
+1st Session
+
+H. R. 4437
+
+[Report No. 119-249]
+
+_______________________________________________________________________
+
+A BILL
+
+To reduce the regulatory burden on certain well managed and well
+capitalized financial institutions, and for other purposes.
+
+_______________________________________________________________________
+
+September 8, 2025
+
+Reported with an amendment, committed to the Committee of the Whole
+House on the State of the Union, and ordered to be printed
Lobbying activity
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filings · 2026 Q3
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filings · 2026 Q3
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filings · 2026 Q4
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filings · 2025 Q3
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Cosponsors (1)
Members who signed on to support this bill.