US HB7056

Increases numerous asset and dollar thresholds across 14 federal banking laws to account for historical GDP growth, affecting regulations under the Bank Holding Company Act, Community Reinvestment Act, Dodd-Frank Act, Federal Credit Union Act, Federal Deposit Insurance Act, and others

Raises the Community Reinvestment Act small bank threshold from $250 million to $800 million in assets, and increases the Volcker Rule exemption threshold from $10 billion to $15 billion

Increases Federal Deposit Insurance Act audit requirement thresholds from $5 billion to $21 billion, and raises prompt corrective action thresholds from $300 million to $2 billion

Raises Home Mortgage Disclosure Act exemption thresholds from $30 million to $160 million and from $10 million to $180 million for certain reporting requirements

Requires the Federal Reserve Board to recalculate all thresholds every 5 years beginning April 1, 2031, based on changes in current-dollar U.S. GDP, with adjusted amounts published in the Federal Register and taking effect the following January 1