Several banking and credit union bills are being marked up anddebated in Congress in the final days before congressional membersleave for August recess.

Among them is a bill, S.1799, by Sen. Susan Collins (R-Maine) called the Community BankSensible Regulation Act of 2015 that will be a “game changer” forcommunity banks, according to American Banker.

The bill was added to a financial service appropriations billlast week and would allow financialregulators to exempt community banks, with fewer than $10billion of assets, from what would be considered unnecessary orburdensome requirements. The bill would primarily excludesmall banks from complying with the Volcker Rule, which prohibitscertain speculative investments. It would not exclude banks fromcomplying with CFPB regulations.