New BANK Act of 2025
Sponsored By: Representative Loudermilk
In Committee
Summary
Annual public reporting on charter applications and agency processing would be required across federal banking regulators. The bill would standardize counts, mean and median approval times, and, where practicable, common reasons for denials or withdrawals across the OCC, NCUA, Board of Governors of the Federal Reserve System, and the FDIC, and would include a coordinated state-by-state report with State regulators.
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- Prospective banks, credit unions, and holding companies would get one annual agency report showing counts of applications received and dispositioned, plus mean and median times to preliminary or final approval and common reasons for negative outcomes. This makes application timelines easier to compare across agencies.
- State regulators and institutions seeking State charters would see State-specific counts and mean and median approval times, with common reasons for denials or withdrawals when practicable. This highlights differences across States.
- Researchers, investors, and policymakers would gain standardized data across agencies to spot trends in application volume, processing speed, and recurring denial or withdrawal reasons. That could inform oversight and policy choices.
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Bill Overview
No Economic Impacts Identified for this Bill
Sponsors & CoSponsors
Sponsor
Loudermilk
GA • R
Cosponsors
Rep. Gottheimer, Josh [D-NJ-5]
NJ • D
Sponsored 12/16/2025
Rep. Lawler, Michael [R-NY-17]
NY • R
Sponsored 1/9/2026
Roll Call Votes
No roll call votes available for this bill.
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