Community Bank Representation Act

# Community Bank Representation Act (HR 6554) Summary **What It Would Do** This bill would require the Federal Reserve System to include community bank representatives on its advisory boards and decision-making bodies. Currently, the Federal Reserve's advisory councils are dominated by larger financial institutions. The bill aims to give smaller, community-focused banks a formal voice in Federal Reserve policy discussions and decisions that affect the banking industry. **Who It Affects** Community banks and their customers would be the primary beneficiaries. Community banks are smaller regional institutions that typically serve local markets, as opposed to large national banks.

The bill would also indirectly affect the Federal Reserve's policymaking process and potentially influence how banking regulations are developed and implemented. **Key Provision & Status** The main provision requires dedicated representation from community banks on Federal Reserve advisory committees. As of now, the bill is in committee, meaning it has been introduced but has not yet been debated or voted on by the full House. No action has been taken since its introduction.