PlainBillCongress, translated.Legislation. Context. Public interest.Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Congressional Research Service
Version 00 · Introduced in House · Jul 16, 2025
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.
People & committees
Rep. Timmons, William R. [R-SC-4] · R–SC
Legislative record
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Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Motion to reconsider laid on the table Agreed to without objection.
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H3353-3354)
Passed/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)
DEBATE - The House proceeded with forty minutes of debate on H.R. 4437.
Considered under suspension of the rules. (consideration: CR H3353-3356)
Mr. Hill (AR) moved to suspend the rules and pass the bill, as amended.
Placed on the Union Calendar, Calendar No. 206.
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-249.
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-249.
Ordered to be Reported (Amended) by the Yeas and Nays: 53 - 1.
Committee Consideration and Mark-up Session Held
Referred to the House Committee on Financial Services.
Introduced in House
Introduced in House
Primary sources
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Source last updated: Sep 19, 2026. Consult Congress.gov for the current record.
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Analyze H.R.4437 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.
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