H.R. 478Heading to a voteJobs & the economy
Bill would phase in bank capital rules for new rural lenders
Data as of July 23, 2026
The bill gives new banks, especially rural ones, three years to phase in federal capital requirements instead of meeting them immediately.AI-decoded50-second read · 4 questions answered below
Decoded
AI-decodedWhat does this do?
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.
Who does it affect?
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.
Why does it matter?
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.
Where does it stand?
- Introduced
- House committee
- House vote — You are here
- Senate
- President's desk
Right now: it's headed for a House floor vote. If the Senate changes it, it goes back to the House before reaching the President.
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Official title
Promoting New Bank Formation Act
- Introduced:
- January 16, 2025
- Latest action:
- May 6, 2025
Placed on the Union Calendar, Calendar No. 64.
Read the official bill on Congress.gov