Promoting New Bank Formation Act of 2025

Summary

Official

Promoting New Bank Formation Act of 2025 This bill eliminates and reduces certain requirements applicable to new financial institutions, certain rural community banks, and federal savings associations. Under the bill, federal banking agencies must issue rules allowing new financial institutions to meet capital requirements within three years. During this period, a...

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Bill Progress

Bill has been introduced and assigned a number

Introduced(1/16/25)

Committee

Passed House

Passed Senate

President

Law

Sponsor

Mrs. Hyde-Smith

Senate (R) Mississippi

Cosponsors (1)

Sheehy

Senate (R) Montana

Latest Action

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Jan 16, 2025

View Bill on Congress.gov