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CIVIC HERALD
HR 4544 · 119th Congress · HouseIn committee

American Access to Banking Act

In plain language: This bill aims to make starting a new bank or credit union less complicated, with focused support for rural areas and minority-led lenders. Federal regulators would streamline application forms, assign dedicated caseworkers to guide organizers through the approval process, and pair applicants with mentors from recently opened institutions. Agencies would also review rules to see if startup banks can more easily raise money from everyday, non-wealthy investors, with the bill's administrative costs offset by trimming a Federal Reserve fund starting in 2036.

Provisional: our plain-language summary, pending review.

Provisionalunreviewed: impact, provisions, stakeholders, summary
People affected—not determinable from the text provided
Fiscal magnitude$24.0Mprovisional · pending reviewSec. 7(a) reduces the Federal Reserve Bank aggregate surplus capital statutory cap under 12 U.S.C. 289(a)(3)(A) by $24,000,000, effective September 1, 2036.
Reach24provisional · pending reviewrigor: heuristic llm
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Issues

What this bill touches.

Banking/financial rules−20

The sign shows the bill's direction on each issue (+ toward, − away); the number is its magnitude. Color never encodes good or bad, and never party.

Who it affects

Who it helps · who it burdens.

Who it helps

  • Applicants for new banks and credit unionsGain streamlined application procedures, reduced paperwork demands, access to a dedicated agency caseworker for guidance, mentorship connections with recently approved institutions, and training workshops (Sec. 2, 3, 4, and 5).provisional
  • State banking and credit union regulatorsReceive increased consultation and federal agency cooperation, including formal assistance regarding federal insurance applications for state-chartered institutions (Sec. 5(a)(1)).provisional

Who it burdens

  • Federal financial institutions regulatory agenciesRequired to review application processes, collect information from public sources to lessen applicant burden, assign dedicated caseworkers upon request, publish mentorship guidance, consult with the SEC and state regulators, and submit regular reports and plans to Congress (Sec. 2, 3, 4, and 5).provisional
  • Federal Reserve banksHave the statutory cap on their aggregate surplus capital reduced by $24 million effective September 1, 2036, restricting the amount of surplus capital they can retain (Sec. 7).provisional

Dollar-level funding (FEC sector totals) is coming in a later phase.

What it does

The provisions, in plain language.

  1. Requires federal financial regulatory agencies to review application forms for new banks and credit unions, pull applicant data from existing government or public sources to reduce paperwork requests, and study capital-raising rules with the Securities and Exchange Commission.

    Sec. 2(a)provisional

  2. Requires federal financial regulatory agencies, upon request, to designate an agency caseworker to guide organizers through the application process and serve as their primary point of contact.

    Sec. 3provisional

  3. Requires federal financial regulatory agencies to connect new bank and credit union applicants with recently approved institutions willing to serve as volunteer mentors, and to publish directions on how to request or become a mentor.

    Sec. 4provisional

  4. Directs federal financial regulatory agencies to develop a public-commented plan—updated every five years—to coordinate with state regulators, consult with rural and minority-owned institutions, and provide guidance and training workshops for prospective applicants.

    Sec. 5provisional

How your members of Congress line up

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Timeline

How it moved.

  1. May 21, 2026Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  2. May 20, 2026Motion to reconsider laid on the table Agreed to without objection.
  3. May 20, 2026On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 405 - 4 (Roll no. 178).
  4. May 20, 2026Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 405 - 4 (Roll no. 178).
  5. Sep 8, 2025Reported (Amended) by the Committee on Financial Services. H. Rept. 119-253.
  6. Sep 8, 2025Reported (Amended) by the Committee on Financial Services. H. Rept. 119-253.
  7. Jul 23, 2025Ordered to be Reported in the Nature of a Substitute by the Yeas and Nays: 49 - 0.
  8. Jul 17, 2025Introduced in House
  9. Jul 17, 2025Introduced in House

The original text

Read it for yourself.

Read the original text →

Sources & provenance

Congress.govrefreshed 9 days ago

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