Community Banking Act

The Community Banking Act is legislation designed to support smaller, local banks—called community banks—by easing certain regulations that may be burdensome. Its goal is to help these banks better serve their local communities by promoting access to banking services, encouraging local economic growth, and ensuring financial stability. The Act typically includes measures to reduce regulatory costs and simplify compliance, allowing community banks to focus more on lending to local businesses and residents, ultimately fostering stronger local economies and preserving community-focused banking services.