SMART Act of 2025
Introduced Jul 16, 2025 by Rep. William R. Timmons
The House passed it. The Senate has to pass it before it can reach the President.
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.
No recorded roll-call vote on this bill — it may have passed by voice vote or unanimous consent, which don't record individual votes.
- May 13, 2026Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- May 12, 2026Motion to reconsider laid on the table Agreed to without objection.
- May 12, 2026On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H3353-3354)
- May 12, 2026Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H3353-3354)
- May 12, 2026DEBATE - The House proceeded with forty minutes of debate on H.R. 4437.
- May 12, 2026Considered under suspension of the rules. (consideration: CR H3353-3356)
- May 12, 2026Mr. Hill (AR) moved to suspend the rules and pass the bill, as amended.
- Sep 8, 2025Placed on the Union Calendar, Calendar No. 206.
- Sep 8, 2025Reported (Amended) by the Committee on Financial Services. H. Rept. 119-249.
- Jul 22, 2025Ordered to be Reported (Amended) by the Yeas and Nays: 53 - 1.
- Jul 22, 2025Committee Consideration and Mark-up Session Held
- Jul 16, 2025Referred to the House Committee on Financial Services.
- Jul 16, 2025Introduced in House