H.R. 4544

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4544 Referred in Senate (RFS)]

<DOC>
119th CONGRESS
2d Session
H. R. 4544

_______________________________________________________________________

IN THE SENATE OF THE UNITED STATES

May 21, 2026

Received; read twice and referred to the Committee on Banking, 
Housing, and Urban Affairs

_______________________________________________________________________

AN ACT

To direct certain Federal banking and credit union agencies to promote 
the formation of de novo regulated institutions through the review of 
application processes, the review of capital raising by de novo 
regulated institutions, and the establishment of various outreach 
programs, and for other purposes.

Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the ``American Access to Banking Act''.

SEC. 2. STREAMLINING APPLICATION PROCESS AND REVIEW OF CAPITAL RAISING 
BY DE NOVO REGULATED INSTITUTIONS.

(a) In General.--Each of the Federal financial institutions 
regulatory agencies shall--
(1) for the purpose of streamlining the process of applying 
to become a de novo regulated institution, conduct a review of 
any application forms related to such process;
(2) to the extent practicable, gather information needed 
from applicants seeking to become a de novo regulated 
institution from other Federal Government agencies or public 
sources to minimize information requests of such applicants; 
and
(3) in consultation with the Securities and Exchange 
Commission, review how de novo regulated institutions raise 
capital while maintaining investor protections, including the 
impact of--
(A) general capital raising restrictions; and
(B) capital raising restrictions related to 
individuals who are not accredited investors.
(b) Report.--Not later than 1 year after the date of the enactment 
of this section, and annually for 5 years thereafter, each of the 
Federal financial institutions regulatory agencies shall submit to the 
Committee on Financial Services of the House of Representatives and the 
Committee on Banking, Housing, and Urban Affairs of the Senate and 
publish on a public website of such agency a report that contains--
(1) a description of the actions taken by such agency 
pursuant to subsection (a); and
(2) as appropriate, any administrative or legislative 
recommendations with respect to the purpose described in 
subsection (a)(3).

SEC. 3. IMPROVING COMMUNICATION WITH DE NOVO REGULATED INSTITUTIONS.

(a) In General.--Each of the Federal financial institutions 
regulatory agencies shall, at the request of an applicant to become a 
de novo regulated institution, designate an employee of the agency as a 
caseworker, who may perform such duty in addition to the other duties 
of the employee.
(b) Caseworker Duties.--Each caseworker described in subsection (a) 
shall, to the maximum extent practicable--
(1) meet with the lead organizers applying to become a de 
novo regulated institution to provide a tutorial with respect 
to the application process; and
(2) be the primary point of contact of the respective 
Federal financial institutions regulatory agency for such 
organizers during the application process.
(c) New Caseworker.--Each agency described in subsection (a) may 
designate a new caseworker, as appropriate, to support continuity based 
on staffing and responsibilities assigned to the current caseworker.

SEC. 4. DE NOVO MENTOR-PROTEGE PARTNERSHIPS.

(a) In General.--At the request of an institution that seeks to 
become a de novo regulated institution, each of the Federal financial 
institutions regulatory agencies shall, to the maximum extent 
practicable, provide a list to such institution of similar types of 
institutions that--
(1) were recently approved to become a de novo regulated 
institution; and
(2) are interested in volunteering to serve as a mentor to 
provide advice about the de novo application process.
(b) Mentorship Information.--Not later than 1 year after the date 
of the enactment of this section, each of the Federal financial 
institutions regulatory agencies shall provide public information and 
directions on how an institution may request a mentor or serve as a 
mentor as described in subsection (a).

SEC. 5. STATE AND STAKEHOLDER ENGAGEMENT PLAN.

(a) In General.--Each of the Federal financial institutions 
regulatory agencies shall develop a plan to--
(1) regularly consult with State regulators to promote 
cooperation between State and Federal banking and credit union 
agencies in the creation of de novo regulated institutions, 
including responding to any State regulator that requests 
assistance on how a State-chartered financial institution can 
request Federal insurance;
(2) regularly consult with stakeholders, including 
applicants to become de novo regulated institutions and 
recently approved regulated institutions, to inform any reforms 
that may support the creation of de novo regulated 
institutions, including rural institutions, community 
development financial institutions, and minority depository 
institutions; and
(3) provide guidance, training material, and regular 
workshops to assist any interested parties to understand such 
agencies processes.
(b) Submission to Congress.--
(1) In general.--Not later than 2 years after the date of 
the enactment of this section, and every 5 years thereafter, 
each of the Federal financial institutions regulatory agencies 
shall submit to the Committee on Financial Services of the 
House of Representatives and the Committee on Banking, Housing, 
and Urban Affairs of the Senate the respective plan of such 
agency described in subsection (a).
(2) Public comment.--With respect to developing the plan 
described in subsection (a), each of the Federal financial 
institutions regulatory agencies shall--
(A) provide an opportunity for public comments; and
(B) take such public comments into consideration.

SEC. 6. DEFINITIONS.

(a) In General.--In this Act:
(1) Federal banking agency.--The term ``Federal banking 
agency'' has the meaning given the term in section 3 of the 
Federal Deposit Insurance Act (12 U.S.C. 1813).
(2) Federal financial institutions regulatory agencies.--
The term ``Federal financial institutions regulatory agencies'' 
has the meaning given the term in section 1003 of the Federal 
Financial Institutions Examination Council Act of 1978 (12 
U.S.C. 3302).
(3) Regulated institution.--The term ``regulated 
institution'' means--
(A) with respect to a Federal banking agency, a 
depository institution (as such term is defined in 
section 3 of the Federal Deposit Insurance Act (12 
U.S.C. 1813)) for which the Federal banking agency is 
the appropriate Federal banking agency (as such term is 
defined in such section 3); and
(B) with respect to the National Credit Union 
Administration, an insured credit union (as such term 
is defined in section 101 of the Federal Credit Union 
Act (12 U.S.C. 1752)).
(4) State.--The term ``State'' means each of the several 
States, the District of Colombia, and each territory of the 
United States.
(5) State regulator.--The term ``State regulator'' means--
(A) with respect to a Federal banking agency, a 
State banking regulator; and
(B) with respect to the National Credit Union 
Administration, the State regulatory agency having 
jurisdiction over a State credit union (as such term is 
defined in section 101 of the Federal Credit Union Act 
(12 U.S.C. 1752)).
(b) Rule of Construction.--For purposes of this Act, the process of 
applying to become a de novo regulated institution shall include the 
process of applying for Federal deposit insurance, Federal share 
insurance, or membership of a Federal reserve bank.

SEC. 7. DISCRETIONARY SURPLUS FUND.

(a) In General.--The dollar amount specified under section 
7(a)(3)(A) of the Federal Reserve Act (12 U.S.C. 289(a)(3)(A)) is 
reduced by $24,000,000.
(b) Effective Date.--The amendment made by subsection (a) shall 
take effect on September 1, 2036.

Passed the House of Representatives May 20, 2026.

Attest:

KEVIN F. MCCUMBER,

Clerk.