,,ib ,union ,calendar ,no4 #baj #aaith ,,congress #ast ,session ,h4 ,r4 #dedd ,report ,no4 #aai-bec ,,in ,,the ,,house ,,of ,,representatives ,july #ag1 #bjbe,ms4 ,waters introduced the following bill2 which was referred to the ,committee on ,financial ,services ,september #h1 #bjbe,reported with an amendment1 committed to the ,committee of the ,whole ,house on the ,state of the ,union1 and ordered to be printed,strike out all after the enacting clause and insert the part printed in italic,for text of introduced bill1 see copy of bill as introduced on ,july #ag1 #bjbe ,a ,,bill ,to direct certain ,federal banking and credit union agencies to promote the formation of de novo regulated institutions through the review of application processes1 the review of capital raising by de novo regulated institutions1 and the establishment of various outreach programs1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,american ,access to ,banking ,act4 #b4 ,streamlining application process and review of capital raising by de novo regulated institutions 7a7 ,in general ,each of the ,federal financial institutions regulatory agencies shall-- 7#a7 for the purpose of streamlining the process of applying to become a de novo regulated institution1 conduct a review of any application forms related to such process2 7#b7 to the extent practicable1 gather information needed from applicants seeking to become a de novo regulated institution from other ,federal ,government agencies or public sources to minimize information requests of such applicants2 and 7#c7 in consultation with the ,securities and ,exchange ,commission1 review how de novo regulated institutions raise capital while maintaining investor protections1 including the impact of-- 7,a7 general capital raising restrictions2 and 7,b7 capital raising restrictions related to individuals who are not accredited investors4 7b7 ,report ,not later than #a year after the date of the enactment of this section1 and annually for #e years thereafter1 each of the ,federal financial institutions regulatory agencies shall submit to the ,committee on ,financial ,services of the ,house of ,representatives and the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate and publish on a public website of such agency a report that contains-- 7#a7 a description of the actions taken by such agency pursuant to subsection 7a72 and 7#b7 as appropriate1 any administrative or legislative recommendations with respect to the purpose described in subsection 7a77#c74 #c4 ,improving communication with de novo regulated institutions 7a7 ,in general ,each of the ,federal financial institutions regulatory agencies shall1 at the request of an applicant to become a de novo regulated institution1 designate an employee of the agency as a caseworker1 who may perform such duty in addition to the other duties of the employee4 7b7 ,caseworker duties ,each caseworker described in subsection 7a7 shall1 to the maximum extent practicable-- 7#a7 meet with the lead organizers applying to become a de novo regulated institution to provide a tutorial with respect to the application process2 and 7#b7 be the primary point of contact of the respective ,federal financial institutions regulatory agency for such organizers during the application process4 7c7 ,new caseworker ,each agency described in subsection 7a7 may designate a new caseworker1 as appropriate1 to support continuity based on staffing and responsibilities assigned to the current caseworker4 #d4 ,de ,novo ,mentor-,protg partnerships 7a7 ,in general ,at the request of an institution that seeks to become a de novo regulated institution1 each of the ,federal financial institutions regulatory agencies shall1 to the maximum extent practicable1 provide a list to such institution of similar types of institutions that-- 7#a7 were recently approved to become a de novo regulated institution2 and 7#b7 are interested in volunteering to serve as a mentor to provide advice about the de novo application process4 7b7 ,mentorship information ,not later than #a year after the date of the enactment of this section1 each of the ,federal financial institutions regulatory agencies shall provide public information and directions on how an institution may request a mentor or serve as a mentor as described in subsection 7a74 #e4 ,state and stakeholder engagement plan 7a7 ,in general ,each of the ,federal financial institutions regulatory agencies shall develop a plan to-- 7#a7 regularly consult with ,state regulators to promote cooperation between ,state and ,federal banking and credit union agencies in the creation of de novo regulated institutions1 including responding to any ,state regulator that requests assistance on how a ,state-chartered financial institution can request ,federal insurance2 7#b7 regularly consult with stakeholders1 including applicants to become de novo regulated institutions and recently approved regulated institutions1 to inform any reforms that may support the creation of de novo regulated institutions1 including rural institutions1 community development financial institutions1 and minority depository institutions2 and 7#c7 provide guidance1 training material1 and regular workshops to assist any interested parties to understand such agencies processes4 7b7 ,submission to ,congress 7#a7 ,in general ,not later than #b years after the date of the enactment of this section1 and every #e years thereafter1 each of the ,federal financial institutions regulatory agencies shall submit to the ,committee on ,financial ,services of the ,house of ,representatives and the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate the respective plan of such agency described in subsection 7a74 7#b7 ,public comment ,with respect to developing the plan described in subsection 7a71 each of the ,federal financial institutions regulatory agencies shall-- 7,a7 provide an opportunity for public comments2 and 7,b7 take such public comments into consideration4 #f4 ,definitions 7a7 ,in general ,in this ,act3 7#a7 ,federal banking agency ,the term ,federal banking agency has the meaning given the term in section #c of the ,federal ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahac74 7#b7 ,federal financial institutions regulatory agencies ,the term ,federal financial institutions regulatory agencies has the meaning given the term in section #ajjc of the ,federal ,financial ,institutions ,examination ,council ,act of #aigh 7#ab ,u4,s4,c4 #ccjb74 7#c7 ,regulated institution ,the term regulated institution means-- 7,a7 with respect to a ,federal banking agency1 a depository institution 7as such term is defined in section #c of the ,federal ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahac77 for which the ,federal banking agency is the appropriate ,federal banking agency 7as such term is defined in such section #c72 and 7,b7 with respect to the ,national ,credit ,union ,administration1 an insured credit union 7as such term is defined in section #aja of the ,federal ,credit ,union ,act 7#ab ,u4,s4,c4 #ageb774 7#d7 ,state ,the term ,state means each of the several ,states1 the ,district of ,colombia1 and each territory of the ,united ,states4 7#e7 ,state regulator ,the term ,state regulator means-- 7,a7 with respect to a ,federal banking agency1 a ,state banking regulator2 and 7,b7 with respect to the ,national ,credit ,union ,administration1 the ,state regulatory agency having jurisdiction over a ,state credit union 7as such term is defined in section #aja of the ,federal ,credit ,union ,act 7#ab ,u4,s4,c4 #ageb774 7b7 ,rule of construction ,for purposes of this ,act1 the process of applying to become a de novo regulated institution shall include the process of applying for ,federal deposit insurance1 ,federal share insurance1 or membership of a ,federal reserve bank4 ,september #h1 #bjbe,reported with an amendment1 committed to the ,committee of the ,whole ,house on the ,state of the ,union1 and ordered to be printed