US HB478

Federal banking agencies must establish a 3-year phase-in period for newly chartered (de novo) depository institutions and their holding companies to meet federal capital requirements

New banks may request deviations from their approved business plans during their first 3 years, with regulators required to respond within 30 days or the request is automatically approved

Rural community banks with less than $10 billion in assets receive a reduced Community Bank Leverage Ratio of 8% during their first 3 years, with further phase-in provisions for years 1-2

Federal savings associations gain new authority to make secured and unsecured agricultural loans under amendments to the Home Owners' Loan Act

Federal banking agencies must conduct a joint study and report to Congress within 1 year on the causes of low de novo bank formation over the past decade and ways to promote new banks in underserved areas