,,ii  #aahth ,,congress  #ast ,session  
,s4 #bbeb  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,july #ab1     
#bjbc,mr4 ,kennedy 7for himself and ,ms4
 ,smith7 introduced the following bill2 
which was read twice and referred to the
 ,committee on ,banking1 ,housing1 and  
,urban ,affairs  ,a ,,bill  ,to require 
the ,federal banking regulators to      
jointly conduct a study and develop a   
strategic plan to address challenges    
faced by proposed depository            
institutions seeking de novo depository 
institution charters1 and for other     
purposes4  #a4 ,short title ,this ,act  
may be cited as the ,promoting ,new and 
,diverse ,depository ,institutions ,act4
  #b4 ,definitions ,in this ,act3 7#a7  
,depository institution ,the term       
depository institution-- 7,a7 has the   
meaning given the term in section #c of 
the ,federal ,deposit ,insurance ,act   
7#ab ,u4,s4,c4 #ahac72 and  7,b7        
includes a ,federal credit union and a  
,state credit union1 as those terms are 

defined in section #aja of the ,federal 
,credit ,union ,act 7#ab ,u4,s4,c4      
#ageb74  7#b7 ,community development    
financial institution ,the term         
community development financial         
institution has the meaning given in    
section #ajc of the ,riegle ,community  
,development and ,regulatory            
,improvement ,act of #aiid 7#ab         
,u4,s4,c4 #dgjb74  7#c7 ,federal banking
 regulators ,the term ,federal banking  
regulators means the ,board of          
,governors of the ,federal ,reserve     
,system1 the ,comptroller of the        
,currency1 the ,federal ,deposit        
,insurance ,corporation1 the ,national  
,credit ,union ,administration1 and the 
,director of the ,bureau of ,consumer   
,financial ,protection4  7#d7 ,minority 
depository institution ,the term        
minority depository institution has the 
meaning given in section #cjh7;b7 of the
 ,financial ,institutions ,reform1      
,recovery1 and ,enforcement ,act of     
#aihi 7#ab ,u4,s4,c4 #adfc note74  #c4  

,study and strategic plan  7a7 ,in      
general ,the ,federal banking regulators
 shall jointly-- 7#a7 conduct a study   
about the challenges faced by proposed  
depository institutions1 including      
proposed minority depository            
institutions1 seeking de novo depository
 institution charters2 and  7#b7 not    
later than #ah months after the date of 
enactment of this section1 submit to the
 ,committee on ,banking1 ,housing1 and  
,urban ,affairs of the ,senate and the  
,committee on ,financial ,services of   
the ,house of ,representatives and      
publish publically-- 7,a7 an analysis   
based on the study conducted pursuant to
 paragraph 7#a72  7,b7 any findings from
 the study conducted pursuant to        
paragraph 7#a72 and  7,c7 any           
legislative recommendations that the    
,federal banking regulators developed   
based on the study conducted pursuant to
 paragraph 7#a74  7b7 ,strategic plan   
7#a7 ,in general ,not later than #ah    
months after the date of enactment of   

this section1 the ,federal banking      
regulators shall jointly submit to the  
,committee on ,banking1 ,housing1 and   
,urban ,affairs of the ,senate and the  
,committee on ,financial ,services of   
the ,house of ,representatives and      
publish publically a strategic plan     
based on the study conducted pursuant to
 subsection 7a7 and designed to help    
proposed depository institutions        
7including proposed minority depository 
institutions7 successfully apply for de 
novo depository institution charters in 
a manner that promotes increased        
availability of banking and financial   
services1 safety and soundness1 consumer
 protection1 community reinvestment1    
financial stability1 and a level playing
 field4  7#b7 ,contents of strategic    
plan ,the strategic plan described in   
paragraph 7#a7 shall-- 7,a7 promote the 
chartering of de novo depository        
institutions1 including-- 7i7 proposed  
minority depository institutions2 and   
7ii7 proposed depository institutions   

that could be certified as community    
development financial institutions2 and 
7,b7 describe actions the ,federal      
banking regulators may take that would  
increase the number of depository       
institutions located in geographic areas
 where consumers lack access to a branch
 of a depository institution4  7c7      
,public involvement ,when conducting the
 study and developing the strategic plan
 required by this ,act1 the ,federal    
banking regulators shall invite comments
 and other feedback from the public to  
inform the study and strategic plan4