To require the appropriate Federal banking agencies to establish a 3-year phase-in period for de novo financial institutions to comply with Federal capital standards, to provide relief for de novo rural community banks, and for other purposes.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
This bill, To require the appropriate Federal banking agencies to establish a 3-year phase-in period for de novo financial institutions to comply with Federal capital standards, to provide relief for de novo rural community banks, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers. The main policy domain is Finance, Transportation, Housing.
Who Benefits and How
financial institutions, investors, and borrowers may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.
Who Bears the Burden and How
federal implementing agencies, financial institutions, investors, and borrowers may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.
Key Provisions
- Section H265FC4842AA64B3E87F96F95A59C8FEA: 1. Short title This Act may be cited as the Promoting Access to Capital in Underbanked Communities Act of 2023.
- Section H49C01408E6164910BE7C02B4E52A723A: 2. Phase-in of capital standards The Federal banking agencies shall issue rules that provide for a 3-year phase-in period for a depository institution or...
- Section H618A309EDB1C4D4B9B6F1ACFBE75C352: 3. Changes to business plans During the 3-year period beginning on the date on which a depository institution became an insured depository institution, the...
- Section HA6017B4BD67743019C6219D56DA52926: 4. Rural community depository institution leverage ratio During the 3-year period beginning on the date on which a rural depository institution became an...
- Section H43500782DEB3437E884E9B94AC96C829: 5. Agricultural loan authority for Federal savings associations Section 5(c) of the Home Owners’ Loan Act (12 U.S.C. 1464(c)) is amended— in paragraph (1), by...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
This bill, To require the appropriate Federal banking agencies to establish a 3-year phase-in period for de novo financial institutions to comply with Federal capital standards, to provide relief for de novo rural community banks, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Key Policy Areas
Finance, Transportation, Housing
Primary Purpose
This bill, To require the appropriate Federal banking agencies to establish a 3-year phase-in period for de novo financial institutions to comply with Federal capital standards, to provide relief for de novo rural community banks, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Policy Domains
Whole bill
Identified Gains
- financial institutions, investors, and borrowers
Identified Costs
- federal implementing agencies
- financial institutions, investors, and borrowers
Sponsors
Legislative Progress
ReportedAdditional sponsors: Mr. Sessions, Mr. Loudermilk, Mr. Donalds, Mr. Luetkemeyer, …
Reported with an amendment, committed to the Committee of the …
Mr. Barr introduced the following bill; which was referred to …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "federal_implementing_agencies"
- → Federal agencies assigned duties by the bill
Key Definitions
Terms defined in this bill
a depository institution— with total consolidated assets of less than $10,000,000,000
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology