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H.R. 478119th CongressPlaced on the calendarLatest action May 6, 2025Decoded by AI · checked against the record
The plain-language version leads. The official text is always the reference.
The bill gives new banks, especially rural ones, three years to phase in federal capital requirements instead of meeting them immediately.
50-second read · 4 questions answered below
This bill requires federal banking regulators to create a three-year phase-in period for new banks to meet capital requirements, rather than complying immediately. It lets new banks request changes to their approved business plans during their first three years, with automatic approval if regulators don't respond within 30 days. It also lets federal savings associations make agricultural loans without those loans counting against commercial lending limits, and requires regulators to study why so few new banks have formed in the past decade.
The bill affects people starting new "de novo" banks, rural community banks, and farmers and rural businesses seeking credit. Regulators including the FDIC and Federal Reserve would write the rules and conduct the required study.
The changes would alter capital compliance timelines and lending rules that currently apply to new and rural banks, shifting responsibility to regulators to implement phase-in schedules and study bank formation trends.
AI-drafted summary. Verify it against the official text before you act on it. Read the official bill on Congress.gov
Right now: it was placed on the House floor calendar, and the official record shows no floor action on it since. If the Senate changes it, it goes back to the House before reaching the President.
Latest action: — Placed on the Union Calendar, Calendar No. 64.