Illinois Congressman Randy Hultgren (R-14) Introduces Call Report Relief Legislation

CBAI thanks Illinois Congressman Randy Hultgren (R-14) for introducing legislation to provide Call Report relief to communityHultgrenRandy banks. The Community Bank Reporting Relief Act (H.R. 4500) amends the Federal Deposit Insurance Act to permit reduced reporting requirements for the first and third quarters for highly-rated and well-capitalized institutions (the long form would continue to be filed in the second and fourth quarters). The streamlined reports would provide sufficient information to regulators while being less burdensome to prepare for community banks. Call Report regulatory relief is supported by CBAI and is included in ICBA’s Plan for Prosperity.

CBAI member Greg Ohlendorf, President and CEO of First Community Bank and Trust in Beecher, Illinois, was quoted in Congressman Hultgren’s Press Release as saying, “The quarterly Call Report has increased to some 80 pages supported by almost 700 pages of instructions, and it represents a growing burden on community banks. … As a community banker, I appreciate the efforts of Congressman Hultgren to sponsor this important legislation.” Read Congressman Hultgren’s Press Release.

February 15, 2016