H.R. 6551Heading to a voteJobs & the economy
Bill would require yearly public reports on new bank applications
Data as of July 11, 2026
HR 6551 would require banking regulators to publicly report yearly on how they handle new bank and credit union applications.45-second read · 4 questions answered below
Decoded
What does this do?
HR 6551, the "New BANK Act of 2025," requires federal banking regulators to publish annual public reports tracking applications for new banks, credit unions, and related institutions, including how many were received, approved, denied, withdrawn, or expired, processing times, and common reasons for rejection. It also requires a joint state-by-state report from the Federal Reserve, FDIC, and National Credit Union Administration, done with state regulators, covering state-chartered banks and credit unions.
Who does it affect?
The bill affects the Comptroller of the Currency, National Credit Union Administration, Federal Reserve, and FDIC, as well as people or companies seeking to start new banks or credit unions.
Why does it matter?
The added transparency would let lawmakers, researchers, and industry groups compare regulators' and states' processing speed and success rates, but the bill does not change any approval rules or standards.
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
New BANK Act of 2025
- Introduced:
- December 10, 2025
- Latest action:
- February 25, 2026
Placed on the Union Calendar, Calendar No. 455.
Read the official bill on Congress.govMake the call
Three steps: where you stand, your script, the call.