2025-2026 Regular Session • US Congress Legislature
HB478: Promoting New Bank Formation Act
Legislative Summary
To require the appropriate Federal banking agencies to establish a 3-year phase-in period for de novo financial institutions to comply with Federal capital standards, to provide relief for de novo rural community banks, and for other purposes.
Demographic Impact
Overall analysis of equity impact
70% Positive
Medium ConfidenceView detailed demographic breakdown ↓Unlock Full Demographic Insights
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Bill History
1/16/2025
Introduced in House
House of Representatives
1/16/2025
Referred to the House Committee on Financial Services.
House of Representatives
4/2/2025
Committee Consideration and Mark-up Session Held
House of Representatives
4/2/2025
Ordered to be Reported in the Nature of a Substitute by the Yeas and Nays: 28 - 21.
House of Representatives
Status Information
Current Status
Introduced(1/16/2025)
Chamber
House of Representatives
Sponsors
Republican: 25
Primary Sponsor
Garland Barr
Republican
Co-Sponsors (24)
Dan Meuser
Republican
Troy Downing
Republican
Barry Loudermilk
Republican
Monica De La Cruz
Republican
Ben Cline
Republican
Jake Ellzey
Republican
Scott Franklin
Republican
Bill Huizenga
Republican
Brad Knott
Republican
William Timmons
Republican
Neal Dunn
Republican
Roger Williams
Republican
Mike Flood
Republican
Gary Palmer
Republican
Byron Donalds
Republican
John Rose
Republican
Addison McDowell
Republican
Mark Alford
Republican
Derek Schmidt
Republican
Scott Fitzgerald
Republican
Jefferson Shreve
Republican
Tim Moore
Republican
Michael Lawler
Republican
Pete Sessions
Republican