Search Results for keywords:"de novo financial institutions"

Search Results: keywords:"de novo financial institutions"

H. R. 758 — 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.
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December 03, 2024
Status:Reported in House
Congress:118
Words:1,300
H.R. 758 is a bill that aims to support new (de novo) financial institutions by giving them three years to meet federal capital standards, easing the initial financial burden. The bill also offers special relief to rural community banks by setting an 8% Community Bank Leverage Ratio and...
Simple Explanation
H.R. 758 is a plan to help new banks and small country banks build up their money slowly over three years, so they have an easier start. It also lets banks give loans for farms and looks into why we don't see many new banks popping up in certain places.
S. 3937 — 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.
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March 14, 2024
Status:Introduced in Senate
Congress:118
Words:1,216
S. 3937 is a bill introduced in the U.S. Senate that seeks to assist new and rural community banks. It proposes a 3-year phase-in period for these banks to meet federal capital requirements, which would help them comply over time rather than immediately. The bill also...
Simple Explanation
This bill is like giving new and small country banks some extra time (three years) to save enough money so they can be safe and strong, kind of like letting someone build up their piggy bank over time instead of doing it all at once.

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