Bill > HR6551

This bill, known as the New BANK Act of 2025, mandates that federal agencies responsible for chartering and insuring financial institutions, including the Comptroller of the Currency, the National Credit Union Administration, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation, must publish annual reports detailing the status and processing times of various applications. These reports will cover applications for national bank and Federal savings association charters, depository institution holding companies, federal deposit insurance, and Federal credit union charters, as well as state-chartered depository institutions and state credit unions. The reports will include the number of applications received, approved, denied, withdrawn, or otherwise processed, along with the average and median times for approval, and, where possible, common reasons for denials or withdrawals, providing greater transparency in the financial institution application process.

Business and Industry

https://www.congress.gov/bill/119th-congress/house-bill/6551/all-info