# 117-hr-4590: Promoting New and Diverse Depository Institutions Act

117-hr-4590, Promoting New and Diverse Depository Institutions Act, is a 117th Congress bill sponsored by Rep. Auchincloss, Jake [D-MA-4] (D-MA); status Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (as of 2025-11-18).

- Canonical: https://policyrisk.com/legislation/117-hr-4590
- As of: 2025-11-18
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 117-hr-4590
- Congress: 117
- Title: Promoting New and Diverse Depository Institutions Act
- Status: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Introduced: 2021-07-21
- Sponsor: Rep. Auchincloss, Jake [D-MA-4] (D-MA)
- Cosponsors: 5
- Policy area: Finance and Financial Sector
- Touches household money: no
- Last recorded action: 2025-11-18

## Summary

Promoting New and Diverse Depository Institutions Act This bill requires federal banking agencies to study the challenges faced by entities attempting to become chartered depository institutions and to develop a strategic plan to assist in the application process. The strategic plan must (1) promote the chartering of minority depository institutions and entities that could be certified as community development financial institutions, and (2) describe actions to increase the number of depository institutions located in underserved areas.

## Cosponsors (5)

- Rep. Green, Al [D-TX-9] (D-TX), 2021-07-27T00:00:00.000Z
- Rep. McHenry, Patrick T. [R-NC-10] (R-NC), 2021-07-27T00:00:00.000Z
- Rep. Taylor, Van [R-TX-3] (R-TX), 2021-07-27T00:00:00.000Z
- Rep. Kildee, Daniel T. [D-MI-8] (D-MI), 2021-09-23T00:00:00.000Z
- Rep. Davis, Danny K. [D-IL-7] (D-IL), 2022-01-13T00:00:00.000Z

## Related bills

- 117-hr-2471: Consolidated Appropriations Act, 2022
- 117-hr-3630: Lymphedema Treatment Act
- 117-hr-1193: Cardiovascular Advances in Research and Opportunities Legacy Act
- 117-hr-5577: To designate the facility of the United States Postal Service located at 3900 Crown Road Southwest in Atlanta, Georgia, as the "John R. Lewis Post Office Build…
- 117-hr-5441: PAST Act of 2022
- 117-hr-3642: Harlem Hellfighters Congressional Gold Medal Act

## Sources
- [117-hr-4590 on Congress.gov](https://www.congress.gov/bill/117th-congress/house-bill/4590)

## Related
- [117-hr-2471: Consolidated Appropriations Act, 2022](https://policyrisk.com/legislation/117-hr-2471)
- [117-hr-3630: Lymphedema Treatment Act](https://policyrisk.com/legislation/117-hr-3630)
- [117-hr-1193: Cardiovascular Advances in Research and Opportunities Legacy Act](https://policyrisk.com/legislation/117-hr-1193)
- [117-hr-5577: To designate the facility of the United States Postal Service located at 3900 C…](https://policyrisk.com/legislation/117-hr-5577)
- [117-hr-5441: PAST Act of 2022](https://policyrisk.com/legislation/117-hr-5441)
- [117-hr-3642: Harlem Hellfighters Congressional Gold Medal Act](https://policyrisk.com/legislation/117-hr-3642)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/117-hr-4590 (as of 2025-11-18).