What does Preamble of American Access to Banking Act do?

This bill directs certain Federal banking and credit union agencies to promote the formation of de novo regulated institutions. The agencies are directed to review application processes for these institutions. The bill also requires a review of capital raising by de novo regulated institutions. Outreach programs are to be established by the agencies.

What does SHORT TITLE. of American Access to Banking Act do?

This bill is formally titled American Access to Banking Act

What does STREAMLINING APPLICATION PROCESS AND REVIEW OF CAPITAL RAISING of American Access to Banking Act do?

This section directs Federal financial institutions regulatory agencies to streamline the application process for becoming a de novo regulated institution. Agencies must review application forms and seek to minimize information requests from applicants by utilizing data from other government agencies or public sources. The agencies are also required to review how de novo regulated institutions raise capital, considering the impact of capital raising restrictions on both general investors and those who are not accredited investors, in consultation with the Securities and Exchange Commission. Each agency must submit a report to the House and Senate committees and publish it on their website, detailing actions taken and providing administrative or legislative recommendations related to capital raising. These reports are due within one year of enactment and annually for five years thereafter.

What does IMPROVING COMMUNICATION WITH DE NOVO REGULATED INSTITUTIONS. of American Access to Banking Act do?

Federal financial institutions regulatory agencies designate a caseworker for de novo regulated institution applicants Caseworkers provide tutorials on the application process and serve as primary point of contact Agencies may designate a new caseworker to ensure continuity

What does DE NOVO MENTOR-PROTEGE PARTNERSHIPS. of American Access to Banking Act do?

This section establishes a process for de novo institutions to receive mentorship from similar institutions. Federal financial institutions' regulatory agencies are required to provide lists of institutions willing to mentor de novo applicants. The lists will include institutions recently approved as de novo regulated institutions and interested in volunteering as mentors. Regulatory agencies must publish information on how institutions can request or offer mentorship within one year of the section's enactment.

What does STATE AND STAKEHOLDER ENGAGEMENT PLAN. of American Access to Banking Act do?

Federal financial institutions regulatory agencies must develop a plan for State and stakeholder engagement. The plan includes regular consultation with State regulators and stakeholders to support de novo regulated institutions. Agencies will provide guidance, training, and workshops to assist interested parties in understanding their processes. Each agency must submit its plan to Congress within 2 years of enactment and every 5 years thereafter. The public will have an opportunity to comment on the plan, and agencies must consider these comments.

What does DEFINITIONS. of American Access to Banking Act do?

This section defines key terms used throughout the Act. “Federal banking agency” is defined by reference to section 3 of the Federal Deposit Insurance Act. “Federal financial institutions regulatory agencies” is defined by reference to section 1003 of the Federal Financial Institutions Examination Council Act of 1978. “Regulated institution” refers to depository institutions under a Federal banking agency or insured credit unions under the National Credit Union Administration. “State” includes each State, the District of Columbia, and each territory of the United States. “State regulator” refers to a State banking regulator or the State regulatory agency having jurisdiction over a State credit union. Applying to become a de novo regulated institution includes applying for Federal deposit insurance, Federal share insurance, or membership of a Federal reserve bank.

What does DISCRETIONARY SURPLUS FUND. of American Access to Banking Act do?

This section reduces the dollar amount specified under section 7(a)(3)(A) of the Federal Reserve Act by $24,000,000. The amendment made by this section will take effect on September 1, 2036. The House of Representatives passed this legislation on May 20, 2026.

Back to bills

American Access to Banking Act

Last updated: 5/21/2026 · Introduced: 7/17/2025

Author: Maxine Waters (D-CA)

TL;DR (AI)

The bill directs federal banking agencies to streamline the application process for new financial institutions and review how they raise capital, potentially easing restrictions for both accredited and non-accredited investors.
It establishes a mentorship program connecting new institutions with experienced ones, and requires agencies to provide lists of willing mentors.
Federal agencies must create engagement plans to regularly consult with state regulators and stakeholders, offering guidance and training to support the formation of new regulated institutions.

119th Congresspassed houseOfficial page

Verified Votes

No verified votes yet.

Community Votes

No community votes yet. Be the first!

Voting as guest · Sign in for verified votes

Other Sections

Includes provisions on preamble, short title., and 6 more.

8 sections

Click "Show details" to explore individual sections. Use the community vote above or visit All Sections to vote per section.

Read official text

Want the full experience?

Create a free account to cast verified votes on each section, get a personalized summary, and track your voting history.

Create Free Account