# 119-hr-478: Promoting New Bank Formation Act

119-hr-478, Promoting New Bank Formation Act, is a 119th Congress bill sponsored by Rep. Barr, Andy [R-KY-6] (R-KY); status in_committee; PRIA reads it as touching household money (as of 2026-09-21).

- Canonical: https://policyrisk.com/legislation/119-hr-478
- As of: 2026-09-21
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-hr-478
- Congress: 119
- Title: Promoting New Bank Formation Act
- Status: in_committee
- Introduced: 2025-01-16
- Sponsor: Rep. Barr, Andy [R-KY-6] (R-KY)
- Cosponsors: 24
- Policy area: Finance and Financial Sector
- Touches household money: yes
- Last recorded action: 2026-09-21

## Summary

**Phase in federal capital rules to make starting and growing banks easier, with targeted relief for rural new banks.** This bill would give new banks time to meet capital standards, speed regulator review of business-plan changes, add powers for Federal Savings Associations, and require a study on low new-bank formation. - New and forming banks: Would provide a mandatory three-year phase-in for federal capital standards starting when an institution becomes an insured depository institution. During that window regulators must review requests to change approved business plans within 30 days and a lack of agency action is deemed approval. - Rural community banks: Would establish a Rural Community Depository Institution leverage ratio by fixing the Community Bank Leverage Ratio at 8 percent for eligible rural institutions during the three-year period and allow lower phase-in percentages in years one and two. Eligible institutions are those with under $10 billion in total consolidated assets and located in a rural area as defined in 12 CFR 1026.35(b)(iv)(A). - Federal Savings Associations and underserved areas: Would add agricultural loans to the types of loans Federal Savings Associations may hold. The bill would also require a joint study by the Federal banking agencies on causes of the low number of de novo insured depository institutions over the prior ten-year period and deliver recommendations to Congress within one year.

## Cosponsors (24)

- Rep. Meuser, Daniel [R-PA-9] (R-PA), 2025-01-21T00:00:00.000Z
- Rep. Downing, Troy [R-MT-2] (R-MT), 2025-01-22T00:00:00.000Z
- Rep. Loudermilk, Barry [R-GA-11] (R-GA), 2025-01-22T00:00:00.000Z
- Rep. De La Cruz, Monica [R-TX-15] (R-TX), 2025-01-22T00:00:00.000Z
- Rep. Cline, Ben [R-VA-6] (R-VA), 2025-01-22T00:00:00.000Z
- Rep. Ellzey, Jake [R-TX-6] (R-TX), 2025-01-22T00:00:00.000Z
- Rep. Franklin, Scott [R-FL-18] (R-FL), 2025-01-23T00:00:00.000Z
- Rep. Huizenga, Bill [R-MI-4] (R-MI), 2025-01-23T00:00:00.000Z
- Rep. Knott, Brad [R-NC-13] (R-NC), 2025-01-23T00:00:00.000Z
- Rep. Timmons, William R. [R-SC-4] (R-SC), 2025-01-23T00:00:00.000Z
- Rep. Dunn, Neal P. [R-FL-2] (R-FL), 2025-02-04T00:00:00.000Z
- Rep. Williams, Roger [R-TX-25] (R-TX), 2025-02-04T00:00:00.000Z
- Rep. Flood, Mike [R-NE-1] (R-NE), 2025-02-04T00:00:00.000Z
- Rep. Palmer, Gary J. [R-AL-6] (R-AL), 2025-02-04T00:00:00.000Z
- Rep. Donalds, Byron [R-FL-19] (R-FL), 2025-02-04T00:00:00.000Z
- Rep. Rose, John W. [R-TN-6] (R-TN), 2025-02-05T00:00:00.000Z
- Rep. McDowell, Addison P. [R-NC-6] (R-NC), 2025-02-05T00:00:00.000Z
- Rep. Alford, Mark [R-MO-4] (R-MO), 2025-02-05T00:00:00.000Z
- Rep. Schmidt, Derek [R-KS-2] (R-KS), 2025-02-10T00:00:00.000Z
- Rep. Fitzgerald, Scott [R-WI-5] (R-WI), 2025-02-10T00:00:00.000Z
- Rep. Shreve, Jefferson [R-IN-6] (R-IN), 2025-02-24T00:00:00.000Z
- Rep. Moore, Tim [R-NC-14] (R-NC), 2025-02-24T00:00:00.000Z
- Rep. Lawler, Michael [R-NY-17] (R-NY), 2025-03-31T00:00:00.000Z
- Rep. Sessions, Pete [R-TX-17] (R-TX), 2025-04-01T00:00:00.000Z

## Provisions PRIA read

- More farm loans from Federal Savings Associations: benefit, low. If enacted, Federal Savings Associations would be allowed to make loans for farm purposes. This could help farmers and small agricultural businesses that use these banks get credit. The change would take effect when the bill becomes law.
- New banks get phased-in capital and faster approvals: benefit, low. If enacted, federal banking agencies would give new insured banks and their holding companies three years to meet capital rules. Newly insured rural banks with under $10 billion in assets could use an 8% leverage ratio for three years, and regulators could allow lower ratios in years one and two. T…

## Related bills

- 119-hr-1628: 761st Tank Battalion Congressional Gold Medal Act
- 119-hr-703: Main Street Tax Certainty Act
- 119-hr-38: Constitutional Concealed Carry Reciprocity Act of 2025
- 119-hres-719: Honoring the life and legacy of Charles Charlie James Kirk.
- 119-hr-452: Miracle on Ice Congressional Gold Medal Act
- 119-hr-979: AM Radio for Every Vehicle Act of 2025

## Sources
- [119-hr-478 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/478)

## Related
- [119-hr-1628: 761st Tank Battalion Congressional Gold Medal Act](https://policyrisk.com/legislation/119-hr-1628)
- [119-hr-703: Main Street Tax Certainty Act](https://policyrisk.com/legislation/119-hr-703)
- [119-hr-38: Constitutional Concealed Carry Reciprocity Act of 2025](https://policyrisk.com/legislation/119-hr-38)
- [119-hres-719: Honoring the life and legacy of Charles Charlie James Kirk.](https://policyrisk.com/legislation/119-hres-719)
- [119-hr-452: Miracle on Ice Congressional Gold Medal Act](https://policyrisk.com/legislation/119-hr-452)
- [119-hr-979: AM Radio for Every Vehicle Act of 2025](https://policyrisk.com/legislation/119-hr-979)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-hr-478 (as of 2026-09-21).