American Access to Banking Act

What it does

This bill requires federal financial regulators to review and streamline the application process for the formation of de novo, or new, depository institutions or credit unions.

Regulators must (1) review the application process; (2) to the extent practicable, collect necessary information from other agencies in order to minimize requests for applicant information; and (3) review how de novo financial intuitions raise capital while maintaining investor protections, including the impact of restrictions on raising capital.

At the request of an applicant, regulators must (1) designate an employee as a caseworker to assist in the application process, and (2) provide a list of similar institutions interested in serving as a mentor.

Each regulator must also develop a state and stakeholder engagement plan to assist interested parties with understanding the relevant regulatory processes.

Summary by the Congressional Research Service, Jul 17, 2025 (Introduced in House). CRS summarizes bills impartially; it does not take positions.