On December 4, the President signed a highway bill into law, which includes four significant community bank regulatory relief provisions: (i) an 18-month exam cycle for CAMELS 1 and 2 banks with assets of less than $1 billion: (ii) easier qualification for “rural lender” status under CFPB mortgage rules by elimination of the requirement that such lenders operate “predominantly” in rural areas; (iii) elimination of annual privacy notice mailings when a bank has not changed its privacy policies; and (iv) new SEC registration and deregistration thresholds for thrift holding companies, equal to those that apply to bank holding companies. All four of these provisions are included in ICBA’s Plan for Prosperity. In addition, the new law favorably modifies the application of the $15 billion asset threshold above which a bank may not count the proceeds of trust preferred securities as tier 1 capital. It restores $3 billion in recent cuts to the federal crop insurance program which were included in the recent budget agreement. In addition to these newly enacted provisions, both the Senate and the House have advanced meaningful community bank regulatory relief bills. In May, the Senate Banking Committee reported out the Financial Regulatory Improvement Act (S. 1484), which would provide automatic QM status for mortgages held in portfolio, short form call reports for banks up to $1 billion in assets, and a number of other relief provisions. The House Financial Services Committee has reported out a series of regulatory relief bills. Community banker advocacy during the Washington Policy Summit resulted in a surge of cosponsors for the Clear Relief Act (H.R. 1233 and S. 812), the Community Bank Access to Capital Act (H.R. 1523 and S. 1816), and other priority bills.