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Easier Creation of New Banks and Credit Unions

This Act aims to simplify the process of establishing new financial institutions like banks and credit unions. By streamlining procedures and supporting new entities, citizens may gain broader access to banking services, especially in smaller communities, potentially increasing competition and improving financial service quality.
Key points
Simplifying the application process for new banks and credit unions.
Supporting new financial institutions in raising capital while protecting investors.
Introducing caseworkers to guide applicants through the application process.
Establishing mentorship programs where experienced institutions advise new entities.
Federal agencies will collaborate with state regulators and stakeholders to promote the creation of new financial institutions.
article Official text account_balance Process page
Placed on Calendar
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_4544
Sponsor: Rep. Waters, Maxine [D-CA-43]
Process start date: 2025-07-17
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

American Access to Banking Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_4544.

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 2025-07-17.

What are the main provisions?

Key points include:

  • Simplifying the application process for new banks and credit unions.
  • Supporting new financial institutions in raising capital while protecting investors.
  • Introducing caseworkers to guide applicants through the application process.
  • Establishing mentorship programs where experienced institutions advise new entities.
  • Federal agencies will collaborate with state regulators and stakeholders to promote the creation of new financial institutions.
What is the specific legal status?

The current status is Placed on Calendar.

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. Waters, Maxine [D-CA-43].

What is the latest detailed status?

The latest detailed status is: Placed on the Union Calendar, Calendar No. 210.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-23.

CATEGORIES

Economy