arrow_back Back to App

Supporting New Banks and Access to Financial Services

This act aims to facilitate the establishment of new banks, including those run by minorities and institutions supporting community development. This could give citizens better access to banking services, especially in areas lacking bank branches, potentially improving their daily finances and investment opportunities.
Key points
Banking authorities will study challenges faced by new banks to help them get started.
A plan will be developed to increase the number of banks, especially where financial services are scarce.
Public input will be considered in developing the plan, giving citizens a voice in the future of banking.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_HR_1533
Sponsor: Rep. Auchincloss, Jake [D-MA-4]
Process start date: 2023-03-10
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Promoting New and Diverse Depository Institutions Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_1533.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-03-10.

What are the main provisions?

Key points include:

  • Banking authorities will study challenges faced by new banks to help them get started.
  • A plan will be developed to increase the number of banks, especially where financial services are scarce.
  • Public input will be considered in developing the plan, giving citizens a voice in the future of banking.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Auchincloss, Jake [D-MA-4].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-24.

CATEGORIES

Economy