WASHINGTON, Feb. 11 -- Sen. Ted Budd issued the following press release:
U.S. Senators Ted Budd (R-N.C.), Andy Kim (D-N.J.), John Kennedy (R-La.), and Angela Alsobrooks (D-Md.) are introducing the Tailored Regulatory Updates for Supervisory Testing (TRUST) Act today, which would increase 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. This bipartisan reform targets regulatory bottlenecks that subject low-risk community banks to unnecessarily frequent exams by federal banking regulators, diverting resources from serving their communities. Additionally, the TRUST Act would instead free up federal banking regulators to focus on riskier or lar...