Regulators must offer a list of recent starters willing to mentor
To increase the supply of housing in America, and for other purposes, section 907, Sec. 907.
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Regulators must offer a list of recent starters willing to mentor
The document says “shall”Who acts: Federal financial institutions regulatory agenciesHow: statuteSec. 907 in the PDF
What the document says
“(A) were recently approved to become a de novo regulated institution; and (B) are interested in volunteering to serve as a mentor to provide advice about the de novo application process.”
The section requires each agency, at the request of an institution seeking to become a new regulated institution and so far as practicable, to give it a list of similar institutions that were recently approved and are willing to volunteer as mentors on the application process. Within a year of enactment each agency must also publish information and directions on how to request a mentor or serve as one.
What the document actually says
“(A) were recently approved to become a de novo regulated institution; and (B) are interested in volunteering to serve as a mentor to provide advice about the de novo application process.”
That sentence, in plain words
The list names bodies that recently won approval. They must be willing to volunteer as a mentor. Their job is to give advice on the application.
What this is about
Somebody who just went through the process knows the pitfalls. The list is given only when asked for. The regulator must also post how to take part.
No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.
Increase the supply of housing in America, Public Law 119-101, sec. 907, 140 Stat. 971 (2026). https://www.govinfo.gov/content/pkg/PLAW-119publ101/html/PLAW-119publ101.htm
This page
“Regulators must offer a list of recent starters willing to mentor,” Increase the supply of housing in America, section 907, Sec. 907. Read the Mandate, https://readthemandate.org/pl-119-101/proposal/sec907-mentor-list/ (retrieved August 26, 2026).
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