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Congress·Reported·5 days ago

Banking: New Reports on Bank and Credit Union Applications

Also known as: New BANK Act of 2025

Legislative Progress

✓ Filed
Review
House
Senate
President

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.

Milestones

3 milestones7 actions
Feb 25, 2026House

Placed on the Union Calendar, Calendar No. 455.

Feb 25, 2026House

Reported (Amended) by the Committee on Financial Services. H. Rept. 119-530.

Dec 17, 2025House

Ordered to be Reported (Amended) by the Yeas and Nays: 53 - 0.

Dec 17, 2025House

Committee Consideration and Mark-up Session Held

Dec 16, 2025House

Committee Consideration and Mark-up Session Held

Source Information

Document Type

Congressional Bill

Official Title

New BANK Act of 2025

Bill NumberHR 6551
Congress119th Congress
ChamberHouse of Representatives
Latest ActionPlaced on the Union Calendar, Calendar No. 455.

Sponsor

Cosponsors

(2)
D: 1R: 1

Analysis generated by AI. While we strive for accuracy, this should not be considered legal or professional advice. Always verify information with official government sources.