# 119-hr-4437: SMART Act of 2025

119-hr-4437, SMART Act of 2025, is a 119th Congress bill sponsored by Rep. Timmons, William R. [R-SC-4] (R-SC); status passed_house; PRIA reads it as touching household money (as of 2026-09-21).

- Canonical: https://policyrisk.com/legislation/119-hr-4437
- As of: 2026-09-21
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-hr-4437
- Congress: 119
- Title: SMART Act of 2025
- Status: passed_house
- Introduced: 2025-07-16
- Sponsor: Rep. Timmons, William R. [R-SC-4] (R-SC)
- Cosponsors: 1
- Policy area: Finance and Financial Sector
- Touches household money: yes
- Last recorded action: 2026-09-21

## Summary

**Cuts the frequency of on-site exams for well-run, well-capitalized small banks and credit unions** while keeping agency oversight and new rules and reporting requirements to guard safety and soundness. - Small insured depository institutions and insured credit unions with $6 billion or less in consolidated assets would get alternating limited-scope examinations after a full-scope, on-site exam. Relief does not apply if the institution faces a formal enforcement action or has had a change in control since its last full exam. - Federal banking agencies and the National Credit Union Administration would have 12 months to write rules that define limited-scope exams, set procedures for reviewing institutions with material changes or noncompliance, and explain when fuller oversight is needed. - On-site exams for these institutions must be led by experienced examiners, use fewer examiners and less time, be scheduled at convenient times, and give advance notice of issues. The NCUA must report to Congress and provide aggregate data on examiner experience, examiner counts, and time spent for on-site exams.

## Cosponsors (1)

- Rep. Foster, Bill [D-IL-11] (D-IL), 2025-07-16T00:00:00.000Z

## Provisions PRIA read

- Fewer on-site exams for small banks: mixed, medium. If enacted, small banks with $6 billion or less in assets that are well managed and well capitalized under existing definitions would get lighter on-site exams. After a full exam, the next exam would be limited-scope. On request, agencies would combine two or three exams (safety and soundness, cons…
- Fewer on-site exams for small credit unions: mixed, medium. If enacted, insured credit unions with $6 billion or less in assets that are well managed and well capitalized under existing definitions would get lighter on-site exams. After a full exam, the next exam would be limited-scope. On request, the regulator would combine two or three exams (safety and…

## Related bills

- 119-hr-4669: FEMA Act of 2025
- 119-hr-2725: Affordable Housing Credit Improvement Act of 2025
- 119-hr-137: TCJA Permanency Act
- 119-hr-1262: Mikaela Naylon Give Kids a Chance Act
- 119-hr-842: Nancy Gardner Sewell Medicare Multi-Cancer Early Detection Screening Coverage Act
- 119-hr-2192: Air America Act of 2025

## Sources
- [119-hr-4437 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/4437)

## Related
- [119-hr-4669: FEMA Act of 2025](https://policyrisk.com/legislation/119-hr-4669)
- [119-hr-2725: Affordable Housing Credit Improvement Act of 2025](https://policyrisk.com/legislation/119-hr-2725)
- [119-hr-137: TCJA Permanency Act](https://policyrisk.com/legislation/119-hr-137)
- [119-hr-1262: Mikaela Naylon Give Kids a Chance Act](https://policyrisk.com/legislation/119-hr-1262)
- [119-hr-842: Nancy Gardner Sewell Medicare Multi-Cancer Early Detection Screening Coverage A…](https://policyrisk.com/legislation/119-hr-842)
- [119-hr-2192: Air America Act of 2025](https://policyrisk.com/legislation/119-hr-2192)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-hr-4437 (as of 2026-09-21).