Congress makes it easier to start new banks, but approval standards stay strict.
H.R. 4544 — American Access to Banking Act · Filed by Maxine Waters (D-CA) · Introduced Jul 17, 2025 · Passed chamber
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What it does
This bill directs federal banking regulators (the Federal Reserve, OCC, FDIC, and NCUA) to streamline the process for starting new banks and credit unions by reviewing application forms, reducing paperwork, designating caseworkers to guide applicants, facilitating mentor relationships with recently approved institutions, and consulting with state regulators and stakeholders. It also reduces the Federal Reserve's discretionary surplus fund by $24 million effective in 2036.
Why we flagged it
The bill's core mechanism is regulatory streamlining—reducing friction in the de novo bank charter process. While framed as 'access,' it functionally deregulates entry barriers, making it easier for new financial institutions to form and compete.
- Section 7 reduces the Federal Reserve's discretionary surplus fund by $24M effective 2036, unrelated to de novo banking formation.
What the text implies
- The bill does not mandate that regulators approve de novo applications—it only requires streamlined review and reporting. Approval standards remain unchanged, so regulatory gatekeeping persists despite reduced friction.
- Capital-raising review (Section 2(a)(3)) focuses on restrictions affecting non-accredited investors, potentially signaling intent to ease crowdfunding or retail investment in new banks, which carries consumer protection risks if standards are loosened.
- Mentor-protégé partnerships and caseworker support may create informal regulatory capture: recently approved de novo institutions advising new applicants could normalize lax compliance practices or create peer pressure to cut corners.
- The $24M Federal Reserve surplus reduction is delayed to 2036 and appears unrelated to the bill's stated purpose—a potential rider or budget offset mechanism buried in the text.
Section numbers refer to the bill text the analysis read — linked under Primary records below.
Who it affects
Streamlining de novo bank formation increases competition in banking markets, potentially lowering costs and improving service for consumers. The bill removes regulatory friction without eliminating safety standards, and the caseworker and mentor provisions help new entrants navigate complex processes, benefiting rural and underserved communities explicitly named in the bill.
Who stands to gain
- Prospective de novo bank founders and organizers
- Community development financial institutions (CDFIs)
- Minority depository institutions (MDIs)
- Rural banking entrepreneurs
- Fintech and alternative finance firms seeking bank charters
Named in the bill
Federal Reserve, Office of the Comptroller of the Currency (OCC), Federal Deposit Insurance Corporation (FDIC), National Credit Union Administration (NCUA), Securities and Exchange Commission (SEC), House Committee on Financial Services, Senate Committee on Banking, Housing, and Urban Affairs
Where it stands
- Jul 17, 2025 — Introduced · Congress.gov: “Introduced in House”
- Jul 17, 2025 — Referred to House Committee on Financial Services and Senate Committee on Banking, Housing, and Urban Affairs · Congress.gov: “Referred to the House Committee on Financial Services”
- Jul 22, 2025 — Markup held in committee · Congress.gov: “Committee Consideration and Mark-up Session Held”
- Jul 23, 2025 — Reported out of committee · Congress.gov: “Ordered to be Reported in the Nature of a Substitute by the Yeas and Nays: 49 - 0”
- May 19, 2026 — Floor vote scheduled · Congress.gov: “Mr. Hill (AR) moved to suspend the rules and pass the bill, as amended”
- May 20, 2026 — Passed the House · Congress.gov: “On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required)…”
Dates and quoted wording are Congress.gov's action record; the timeline shows status changes, not every procedural step.
Money around this bill
1 lobbying clients named this bill on 1 disclosure filings across 1 quarter, Jun 2026 to Jun 2026. Those filings disclosed $2,170,000 in lobbying spend. A filing names 50 bills on average, so that figure is what each filing reported, not a share belonging to this bill.
More lobbying clients named this bill than 0% of bills with at least one filing.
Maxine Waters, the sponsor, reported $453,500 in PAC receipts in the 2026 cycle.
- Independent Community Bankers of America — $2,170,000 on 1 filing
Lobbying Disclosure Act filings through Jul 16, 2026. A filing shows who paid to lobby on a bill it names, not what changed.
How this was measured
Analysis — Quorum's AI read the bill text published by Congress.gov (6,994 characters) on Jun 3, 2026. Section numbers in the findings refer to that text, linked below; transparency and hidden-provision scores are compared against the median of 16,222 analysed bills.
Status and sponsors — Congress.gov's bill record — actions, committee referrals and cosponsors — loaded nightly. The timeline shows status changes, not every procedural action.
Money — Senate Lobbying Disclosure Act filings whose specific-issue field names this bill for quarters ending Jun 2026 to Jun 2026. A filing's amount is reported whole beside the median number of bills a filing names; it is never divided across them. PAC receipts are FEC-reported contributions to the sponsor's candidate committee in the 2026 cycle.
As of — lobbying records through Jul 16, 2026 · page rendered 2026-10-20.
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