ABA Applauds House Passage of 21st Century ROAD to Housing Act

"We commend the House for passing the 21st Century ROAD to Housing Act, which takes important steps to increase access to housing across the country, including promoting a more tailored regulatory environment for community banks.

"This bipartisan legislation will help ease supervisory and compliance pressures on smaller institutions, encourage the formation of new banks and strengthen collaboration between large and community-based lenders to better meet the needs of local communities. It also enhances banks' ability to invest in critical initiatives-such as affordable housing, financial literacy and broader community development-by raising the Public Welfare Investment limits for institutions regulated by the OCC and Federal Reserve.

"We appreciate the leadership of House Financial Services Committee Chairman French Hill and Ranking Member Maxine Waters in advancing this legislative package and look forward to President Trump signing this bill into law."

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About the American Bankers Association

The American Bankers Association is the voice of the nation's $26.1 trillion banking industry, which is composed of small, regional and large banks that together employ over 2 million people, safeguard $20.5 trillion in deposits and extend $13.7 trillion in loans.