HOUSE RESOLUTION NO. 44 103RD GENERAL ASSEMBLY INTRODUCED BY REPRESENTATIVE OWEN.
0309H.02I JOSEPH ENGLER, Chief Clerk
WHEREAS, the bedrock of Missouri's economy is the state's financial institutions 2 that finance commercial businesses, farming operations, and individuals; and 3 4 WHEREAS, it is critical that local community banks are maintained; and 5 6 WHEREAS, Missouri, like many other states, is noticing an alarming trend in which 7 many community banks are being acquired by larger banks that primarily seek core deposits; 8 and 9 10 WHEREAS, from 2008 to the current date, the state of Missouri has lost over ninety 11 chartered banks and from 2008 to 2023 not chartered a single bank; 12 13 WHEREAS, the effect of losing chartered banks in Missouri is most notable in rural 14 communities, and within some rural communities, banking deserts are being created: 15 16 NOW THEREFORE BE IT RESOLVED that we, the members of the Missouri 17 House of Representatives, One Hundred Third General Assembly, First Regular Session, 18 hereby: 19 20 (1) Request the Federal Deposit Insurance Corporation to reduce its capital 21 requirement for de novo charters to a flexible amount that coincides with the economic output 22 of the county where the charter request is made; and 23 (2) Request the Federal Deposit Insurance Corporation to dramatically reduce the 24 regulatory compliance period for new chartered banks for the first five years of the charter 25 and then to phase-in the compliance period over the course of years; and 26 27 BE IT FURTHER RESOLVED that the Chief Clerk of the Missouri House of 28 Representatives be instructed to prepare a properly inscribed copy of this resolution for the HR 44 2
29 Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and 30 each member of Missouri's congressional delegation. ✔