The application process includes applying for federal insurance or membership
To increase the supply of housing in America, and for other purposes, section 907, Sec. 907.
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The application process includes applying for federal insurance or membership
The document says “shall”Who acts: Federal financial institutions regulatory agenciesHow: statuteSec. 907 in the PDF
What the document says
“For purposes of this section, 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 in the Federal Reserve System.”
The section provides that for its purposes the process of applying to become a new regulated institution includes applying for federal deposit insurance, federal share insurance, or membership in the Federal Reserve System.
What the document actually says
“For purposes of this section, 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 in the Federal Reserve System.”
That sentence, in plain words
The process covers more than one step. It takes in asking to have deposits insured. It takes in shares and joining the Federal Reserve.
What this is about
A new bank must clear several doors, not one. This makes the section reach all of them. Otherwise the help might stop at the first.
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
“The application process includes applying for federal insurance or membership,” Increase the supply of housing in America, section 907, Sec. 907. Read the Mandate, https://readthemandate.org/pl-119-101/proposal/sec907-rule-of-construction/ (retrieved August 26, 2026).
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