A study of the pilot program is due to Congress by December 31, 2031
What the document says“The Federal banking agencies shall, jointly, carry out a study on the impact of the pilot program carried out pursuant to subsections (a) and (b) of this section on the formation of de novo insured depository institutions”
The section requires the federal banking agencies to study jointly what effect the phase-in and business plan pilot has on the formation of new insured depository institutions, including rural, community development, and minority ones, weighing safety and soundness, competition, and access to affordable financial products in underserved communities. A joint report with all findings is due to the House Committee on Financial Services and the Senate Committee on Banking, Housing, and Urban Affairs by December 31, 2031.
What the document actually says“The Federal banking agencies shall, jointly, carry out a study on the impact of the pilot program carried out pursuant to subsections (a) and (b) of this section on the formation of de novo insured depository institutions”
Bank regulators must study the test together. The question is what it did for the number of new banks formed.
The study must weigh safety against growth. It must look at country lenders and minority lenders. It must look at community lenders too. The report is due by the end of 2031.
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.