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Support for New Banks: Easier Financial Access in Rural Areas.

This act aims to facilitate the creation of new banks, especially in rural areas where access to banking services is limited. This could provide residents in these regions with better access to loans and other financial services, potentially boosting local economies and daily life.
Key points
New banks will have a 3-year period to meet full capital requirements, easing their startup phase.
Smaller rural community banks will have lower capital requirements for the first 3 years, reducing their burden.
Federal savings associations will be able to offer more agricultural loans, supporting farmers.
A study will be conducted to identify reasons for the low number of new banks and ways to promote them in underserved areas.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_S_113
Sponsor: Sen. Hyde-Smith, Cindy [R-MS]
Process start date: 2025-01-16
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Promoting New Bank Formation Act of 2025

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_S_113.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2025-01-16.

What are the main provisions?

Key points include:

  • New banks will have a 3-year period to meet full capital requirements, easing their startup phase.
  • Smaller rural community banks will have lower capital requirements for the first 3 years, reducing their burden.
  • Federal savings associations will be able to offer more agricultural loans, supporting farmers.
  • A study will be conducted to identify reasons for the low number of new banks and ways to promote them in underserved areas.
What is the specific legal status?

The current status is Introduced.

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 Sen. Hyde-Smith, Cindy [R-MS].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

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

CATEGORIES

Economy Agriculture