New BANK Act of 2025

Key Points

• This policy requires federal banking agencies to publish a yearly report about people trying to start new banks or credit unions. Agencies like the Federal Reserve and the Federal Deposit Insurance Corporation would have to share how many applications they received and how many they approved or denied.
• The reports must show the average time it takes for a new bank to get the green light to open. This helps the public and lawmakers understand if the government is moving quickly or if there are long delays in the process.
• Regulators would also have to explain the most common reasons why applications are turned down or why people give up on the process. This information could help future business owners avoid mistakes when trying to start a financial institution.
• By collecting this data, lawmakers can see if it is becoming too difficult for new banks to enter the market. This matters because having more banks can lead to more competition, which often results in better services and lower fees for everyday customers.

Impact Analysis

Govbase has not yet run an impact analysis on this legislation.