U.S. SENATOR KATIE BRITT INTRODUCES TIER ACT TO MODERNIZE OUTDATED BANK REGULATORY THRESHOLDS

WASHINGTON, Sept. 22 -- Sen. Katie Britt issued the following press release:

Legislation would ensure key regulatory thresholds keep pace with economic growth

WASHINGTON, D.C. -U.S. Senator Katie Britt (R-Ala.), a member of the Senate Committee on Banking, Housing, and Urban Affairs, today introduced theTailoring and Indexing Enhanced Regulations (TIER) Act,legislation to modernize outdated asset-based thresholds in federal banking law and ensure the nation's regulatory framework keeps pace with economic growth.

"Bank regulation should be based on an institution's actual size, complexity, and risk, not on arbitrary thresholds that become increasingly outdated with every passing year,"said Senator Britt."When our economy grows but these t...