I 
119TH CONGRESS 
1ST SESSION H. R. 4544 
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. 
IN THE HOUSE OF REPRESENTATIVES 
JULY 17, 2025 
Ms. WATERS introduced the following bill; which was referred to the 
Committee on Financial Services 
A BILL 
To direct certain Federal banking and credit union agencies 
to promote the formation of de novo regulated institu-
tions through the review of application processes, the 
review of capital raising by de novo regulated institu-
tions, and the establishment of various outreach pro-
grams, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives 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’’. 
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SEC. 2. STREAMLINING APPLICATION PROCESS AND RE-
VIEW OF CAPITAL RAISING BY DE NOVO REG-
ULATED INSTITUTIONS. 
(a) IN GENERAL.—Each of the Federal financial in-
stitutions regulatory agencies shall— 
(1) for the purpose of simplifying and stream-
lining the process of applying to become a de novo 
regulated institution, conduct a review of any appli-
cation 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 Ex-
change 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 regu-
latory agencies shall submit to the Congress and publish 
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on a public website of such agency a report that con-
tains— 
(1) a description of the actions taken by such 
agency pursuant to subsection (a); and 
(2) as appropriate, any administrative or legis-
lative recommendations with respect to the purpose 
described in subsection (a)(3). 
SEC. 3. IMPROVING COMMUNICATION WITH DE NOVO REG-
ULATED INSTITUTIONS. 
(a) IN GENERAL.—Each of the Federal financial in-
stitutions regulatory agencies shall, at the request of an 
applicant to become a de novo regulated institution, des-
ignate 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 de-
scribed 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 re-
spective Federal financial institutions regulatory 
agency for such organizers during the application 
process. 
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(c) NEW CASEWORKER.—Each agency described in 
subsection (a) may designate a new caseworker, as appro-
priate, to support continuity based on staffing and respon-
sibilities assigned to the current caseworker. 
SEC. 4. DE NOVO MENTOR-PROTE´ GE´ 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 applica-
tion 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 in-
stitutions regulatory agencies shall develop a plan to— 
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(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 re-
quest Federal insurance; 
(2) regularly consult with stakeholders, includ-
ing applicants to become de novo regulated institu-
tions and recently approved regulated institutions, to 
inform any reforms that may support the creation of 
de novo regulated institutions, including rural insti-
tutions, community development financial institu-
tions, 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 in-
stitutions regulatory agencies shall submit to the 
Congress the respective plan of such agency de-
scribed in subsection (a). 
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(2) PUBLIC COMMENT.—With respect to devel-
oping the plan described in subsection (a), each of 
the Federal financial institutions regulatory agencies 
shall— 
(A) provide an opportunity for public com-
ments; and 
(B) take such public comments into consid-
eration. 
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 Insur-
ance Act (12 U.S.C. 1813). 
(2) FEDERAL FINANCIAL INSTITUTIONS REGU-
LATORY AGENCIES.—The term ‘‘Federal financial in-
stitutions regulatory agencies’’ has the meaning 
given the term in section 1003 of the Federal Finan-
cial Institutions Examination Council Act of 1978 
(12 U.S.C. 3302). 
(3) REGULATED INSTITUTION.—The term ‘‘reg-
ulated 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 In-
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surance Act (12 U.S.C. 1813)) for which the 
Federal banking agency is the appropriate Fed-
eral 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 reg-
ulator’’ 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 Fed-
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