American Access to Banking Act
Congress pushes regulators to streamline approvals for new banks and credit unions
Stalled
No legislative action in over 90 days.
Legislative Progress
Key Points
- Tells federal bank and credit union regulators to make it easier to apply to start a brand-new bank or credit union, including applications for federal deposit or share insurance.
- Requires regulators to review their forms, pull needed info from other government sources when possible, and reduce extra paperwork asked of applicants.
- Directs regulators to look at how new banks raise startup money while still protecting investors, including limits that affect everyday (non-wealthy) investors.
- Lets applicants request a dedicated agency caseworker to walk them through the process and serve as their main contact until a decision is made.
- Creates outreach plans and mentoring options, including workshops and coordination with state regulators, with regular public reports to Congress.
Impact Analysis
Personal Impact
How this policy affects specific groups of people
Milestones
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Motion to reconsider laid on the table Agreed to without objection.
On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 405 - 4 (Roll no. 178).
The House fast-tracked this bill — limited debate, no amendments allowed, but needs two-thirds support to pass.
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 405 - 4 (Roll no. 178).
The House fast-tracked this bill — limited debate, no amendments allowed, but needs two-thirds support to pass.
Considered as unfinished business. (consideration: CR H3645)
Vote Results
1 voteOn Motion to Suspend the Rules and Pass, as Amended
Related News
5 articles
New Bill: Representative Maxine Waters introduces H.R. 4544: American Access to Banking Act
Overview of H.R. 4544’s requirements for regulators to streamline de novo bank/credit union applications, reduce duplicative info requests, and provide applicant caseworkers plus mentorship/outreach programs.
House Financial Services Committee advances 4 credit union-backed bills
Reports the committee advanced several bills, including H.R. 4544 (American Access to Banking Act), and summarizes the set of measures supported by the credit union trade group.
Exam relief, anti-regulation by guidance bills set for markup
Preview of the House Financial Services Committee markup agenda that includes H.R. 4544; frames the bill among other items the trade group says would provide regulatory relief for credit unions.
Source Information
Document Type
Congressional Bill
Official Title
American Access to Banking Act
Data Sources
Sponsor
Analysis generated by AI. Always verify with official sources.