House Bill
H.R. 478
Promoting New Bank Formation Act
Primary Sponsor
Chellie Pingree
Representative
Cosponsors
24
Quick Stats
Policy Area
Summary
This bill eases requirements for new banks by giving them three years to meet capital requirements and allowing business plan deviations. Rural community banks get a reduced leverage ratio of 8 percent with a phase-in period. Federal savings associations gain authority to make agricultural loans.
Latest Action
Placed on the Union Calendar, Calendar No. 64.
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Vote Prediction
Promoting New Bank Formation Act
This bill eases requirements for new banks by giving them three years to meet capital requirements and allowing business plan deviations. Rural community banks get a reduced leverage ratio of 8 percent with a phase-in period. Federal savings associations gain
Community Breakdown
Pass
0%
Fail
0%
0 predictions
This bill eases requirements for new banks by giving them three years to meet capital requirements and allowing business plan deviations. Rural community banks get a reduced leverage ratio of 8 percent with a phase-in period. Federal savings associations gain authority to make agricultural loans.
- Bill Number
- 478
- Sponsor
- Chellie Pingree (D-ME)
- Introduced
- 1/23/2025
- Status
- Placed on the Union Calendar, Calendar No. 64.
- Policy Area
- Finance and Financial Sector
Data from Congress.gov
Fact Sheet
- Title
- Promoting New Bank Formation Act
- Bill Number
- 478
- Sponsor
- Chellie Pingree (D-ME)
- Status
- Placed on the Union Calendar, Calendar No. 64.
- Introduced
- 1/23/2025
- Summary
- This bill eases requirements for new banks by giving them three years to meet capital requirements and allowing business plan deviations. Rural community banks get a reduced leverage ratio of 8 percent with a phase-in period. Federal savings associations gain authority to make agricultural loans.
Data from Congress.gov
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