H.R. 4437 Passed the House Finance and Financial Sector

SMART Act of 2025

To reduce the regulatory burden on certain well managed and well capitalized financial institutions, and for other purposes.

  1. Introduced
  2. Committee
  3. Passed House
  4. Passed Senate
  5. To President
  6. Became law
Sponsor Rep. Timmons, William R. [R-SC-4] Introduced July 16, 2025 Cosponsors 1 (1 D) Latest action May 13, 2026

Summary

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.

Summary by the Congressional Research Service, Library of Congress.

Congress.gov

Actions

  1. May 13, 2026 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  2. May 12, 2026 Motion to reconsider laid on the table Agreed to without objection.
  3. May 12, 2026 On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H3353-3354)
  4. May 12, 2026 DEBATE - The House proceeded with forty minutes of debate on H.R. 4437.
  5. May 12, 2026 Considered under suspension of the rules. (consideration: CR H3353-3356)
  6. May 12, 2026 Mr. Hill (AR) moved to suspend the rules and pass the bill, as amended.
  7. Sep 8, 2025 Placed on the Union Calendar, Calendar No. 206.
  8. Sep 8, 2025 Reported (Amended) by the Committee on Financial Services. H. Rept. 119-249.
  9. Jul 22, 2025 Ordered to be Reported (Amended) by the Yeas and Nays: 53 - 1.
  10. Jul 22, 2025 Committee Consideration and Mark-up Session Held
  11. Jul 16, 2025 Referred to the House Committee on Financial Services.
  12. Jul 16, 2025 Introduced in House

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