A study of why so few new banks form is due in a year
What the document says“(A) the principal causes for the low number of de novo insured depository institutions in the 10-year period ending on the date of enactment of this subsection;”
The section requires the federal banking agencies to study jointly the main causes of the low number of new insured depository institutions over the ten years ending at enactment, ways to promote more in underserved areas, and ways to let new institutions including rural, community development, and minority ones use the Community Bank Leverage Ratio. A joint report is due to the two committees within a year of enactment.
What the document actually says“(A) the principal causes for the low number of de novo insured depository institutions in the 10-year period ending on the date of enactment of this subsection;”
The study must find the main causes of one problem. Few new banks have opened in the last ten years.
It must also look for ways to get more banks into places with none. And it must look at one capital rule for small banks. The report is due within a year.
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.