American Access to Banking Act
H.R. 4544119th CongressFinance and Financial Sector
- Sponsor
- Maxine Waters Democrat
- Introduced
- Jul 17, 2025
- Latest action
- Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- May 21, 2026
Recorded votes
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Summary
Written by the nonpartisan Congressional Research Service.
American Access to Banking Act
This bill requires federal financial regulators to review and streamline the application process for the formation of de novo, or new, depository institutions or credit unions.
Regulators must (1) review the application process; (2) to the extent practicable, collect necessary information from other agencies in order to minimize requests for applicant information; and (3) review how de novo financial intuitions raise capital while maintaining investor protections, including the impact of restrictions on raising capital.
At the request of an applicant, regulators must (1) designate an employee as a caseworker to assist in the application process, and (2) provide a list of similar institutions interested in serving as a mentor.
Each regulator must also develop a state and stakeholder engagement plan to assist interested parties with understanding the relevant regulatory processes.