,,ib ,union ,cal5d> ,no4 #baj #aai?     
,,congress  #a/ ,session  ,h4 ,r4 #dedd 
,report ,no4 #aai-bec ,,9 ,,! ,,h\se ,,(
 ,,repres5tatives  ,july #ag1 #bjbe,ms4 
,wat]s introduc$ ! foll[+ bill2 :i* 0   
ref]r$ to ! ,committee on ,f9ancial     
,s]vices  ,septemb] #h1 #bjbe,report$ ) 
an am5dm5t1 committ$ to ! ,committee ( !
 ,:ole ,h\se on ! ,/ate ( ! ,union1 &   
ord]$ to be printed,strike out all aft] 
! enact+ clause & ins]t ! "p pr9t$ 9    
italic,for text ( introduc$ bill1 see   
copy ( bill z introduc$ on ,july #ag1   
#bjbe  ,a ,,bill  ,to direct c]ta9      
,f$]al bank+ & cr$it union ag5cies to   
promote ! =mation ( de novo regulat$    
in/itutions ?r\gh ! review ( application
 processes1 ! review ( capital rais+ by 
de novo regulat$ in/itutions1 & !       
e/abli%m5t ( v>i\s outrea* programs1 & =
 o!r purposes4  #a4 ,%ort title ,?is    
,act may be cit$ z ! ,am]ican ,access to
 ,bank+ ,act4  #b4 ,/reaml9+ application
 process & review ( capital rais+ by de 
novo regulat$ in/itutions  7a7 ,9 g5]al 

,ea* ( ! ,f$]al f9ancial in/itutions    
regulatory ag5cies %all-- 7#a7 = !      
purpose ( /reaml9+ ! process ( apply+ to
 become a de novo regulat$ in/itution1  
conduct a review ( any application =ms  
relat$ to su* process2  7#b7 to ! ext5t 
practicable1 ga!r in=mation ne$$ f      
applicants seek+ to become a de novo    
regulat$ in/itution f o!r ,f$]al        
,gov]nm5t ag5cies or public s\rces to   
m9imize in=mation reque/s ( su*         
applicants2 &  7#c7 9 consultation ) !  
,securities & ,ex*ange ,commission1     
review h[ de novo regulat$ in/itutions  
raise capital :ile ma9ta9+ inve/or      
protections1 includ+ ! impact (-- 7,a7  
g5]al capital rais+ re/rictions2 &  7,b7
 capital rais+ re/rictions relat$ to    
individuals :o are n accr$it$ inve/ors4 
7b7 ,report ,n lat] ?an #a ye> aft] !   
date ( ! enactm5t ( ?is section1 &      
annually = #e ye>s !reaft]1 ea* ( !     
,f$]al f9ancial in/itutions regulatory  
ag5cies %all submit to ! ,committee on  
,f9ancial ,s]vices ( ! ,h\se (          

,repres5tatives & ! ,committee on       
,bank+1 ,h\s+1 & ,urban ,affairs ( !    
,s5ate & publi% on a public website (   
su* ag5cy a report t conta9s-- 7#a7 a   
description ( ! actions tak5 by su*     
ag5cy pursuant to subsection 7a72 &     
7#b7 z appropriate1 any adm9i/rative or 
legislative recomm5dations ) respect to 
! purpose describ$ 9 subsection 7a77#c74
  #c4 ,improv+ communication ) de novo  
regulat$ in/itutions  7a7 ,9 g5]al ,ea* 
( ! ,f$]al f9ancial in/itutions         
regulatory ag5cies %all1 at ! reque/ (  
an applicant to become a de novo        
regulat$ in/itution1 designate an       
employee ( ! ag5cy z a casework]1 :o may
 p]=m su* duty 9 addition to ! o!r      
duties ( ! employee4  7b7 ,casework]    
duties ,ea* casework] describ$ 9        
subsection 7a7 %all1 to ! maximum ext5t 
practicable-- 7#a7 meet ) ! lead        
organiz]s apply+ to become a de novo    
regulat$ in/itution to provide a        
tutorial ) respect to ! application     
process2 &  7#b7 be ! prim>y po9t (     

contact ( ! respective ,f$]al f9ancial  
in/itutions regulatory ag5cy = su*      
organiz]s dur+ ! application process4   
7c7 ,new casework] ,ea* ag5cy describ$ 9
 subsection 7a7 may designate a new     
casework]1 z appropriate1 to support    
cont9uity bas$ on /aff+ &               
responsibilities assign$ to ! curr5t    
casework]4  #d4 ,de ,novo ,m5tor-,protg 
p>tn]%ips  7a7 ,9 g5]al ,at ! reque/ (  
an in/itution t seeks to become a de    
novo regulat$ in/itution1 ea* ( ! ,f$]al
 f9ancial in/itutions regulatory ag5cies
 %all1 to ! maximum ext5t practicable1  
provide a li/ to su* in/itution ( simil>
 types ( in/itutions t-- 7#a7 7 rec5tly 
approv$ to become a de novo regulat$    
in/itution2 &  7#b7 are int]e/$ 9       
volunte]+ to s]ve z a m5tor to provide  
advice ab\t ! de novo application       
process4  7b7 ,m5tor%ip in=mation ,n    
lat] ?an #a ye> aft] ! date ( ! enactm5t
 ( ?is section1 ea* ( ! ,f$]al f9ancial 
in/itutions regulatory ag5cies %all     
provide public in=mation & directions on

 h[ an in/itution may reque/ a m5tor or 
s]ve z a m5tor z describ$ 9 subsection  
7a74  #e4 ,/ate & /akehold] engagem5t   
plan  7a7 ,9 g5]al ,ea* ( ! ,f$]al      
f9ancial in/itutions regulatory ag5cies 
%all develop a plan to-- 7#a7 regul>ly  
consult ) ,/ate regulators to promote   
coop]ation betwe5 ,/ate & ,f$]al bank+ &
 cr$it union ag5cies 9 ! creation ( de  
novo regulat$ in/itutions1 includ+      
respond+ to any ,/ate regulator t       
reque/s assi/ance on h[ a ,/ate-*>t]$   
f9ancial in/itution c reque/ ,f$]al     
insurance2  7#b7 regul>ly consult )     
/akehold]s1 includ+ applicants to become
 de novo regulat$ in/itutions & rec5tly 
approv$ regulat$ in/itutions1 to in=m   
any re=ms t may support ! creation ( de 
novo regulat$ in/itutions1 includ+ rural
 in/itutions1 community developm5t      
f9ancial in/itutions1 & m9ority         
depository in/itutions2 &  7#c7 provide 
guidance1 tra9+ mat]ial1 & regul>       
work%ops to assi/ any int]e/$ p>ties to 
und]/& su* ag5cies processes4  7b7      

,submission to ,congress  7#a7 ,9 g5]al 
,n lat] ?an #b ye>s aft] ! date ( !     
enactm5t ( ?is section1 & e #e ye>s     
!reaft]1 ea* ( ! ,f$]al f9ancial        
in/itutions regulatory ag5cies %all     
submit to ! ,committee on ,f9ancial     
,s]vices ( ! ,h\se ( ,repres5tatives & !
 ,committee on ,bank+1 ,h\s+1 & ,urban  
,affairs ( ! ,s5ate ! respective plan ( 
su* ag5cy describ$ 9 subsection 7a74    
7#b7 ,public comm5t ,) respect to       
develop+ ! plan describ$ 9 subsection   
7a71 ea* ( ! ,f$]al f9ancial in/itutions
 regulatory ag5cies %all-- 7,a7 provide 
an opportunity = public comm5ts2 &  7,b7
 take su* public comm5ts into           
consid]ation4  #f4 ,def9itions  7a7 ,9  
g5]al ,9 ?is ,act3 7#a7 ,f$]al bank+    
ag5cy ,! t]m ,f$]al bank+ ag5cy has !   
mean+ giv5 ! t]m 9 section #c ( ! ,f$]al
 ,deposit ,insurance ,act 7#ab ,u4,s4,c4
 #ahac74  7#b7 ,f$]al f9ancial          
in/itutions regulatory ag5cies ,! t]m   
,f$]al f9ancial in/itutions regulatory  
ag5cies has ! mean+ giv5 ! t]m 9 section

 #ajjc ( ! ,f$]al ,f9ancial ,in/itutions
 ,exam9ation ,c\ncil ,act ( #aigh 7#ab  
,u4,s4,c4 #ccjb74  7#c7 ,regulat$       
in/itution ,! t]m regulat$ in/itution   
means-- 7,a7 ) respect to a ,f$]al bank+
 ag5cy1 a depository in/itution 7z su*  
t]m is def9$ 9 section #c ( ! ,f$]al    
,deposit ,insurance ,act 7#ab ,u4,s4,c4 
#ahac77 = :i* ! ,f$]al bank+ ag5cy is ! 
appropriate ,f$]al bank+ ag5cy 7z su*   
t]m is def9$ 9 su* section #c72 &  7,b7 
) respect to ! ,national ,cr$it ,union  
,adm9i/ration1 an insur$ cr$it union 7z 
su* t]m is def9$ 9 section #aja ( !     
,f$]al ,cr$it ,union ,act 7#ab ,u4,s4,c4
 #ageb774  7#d7 ,/ate ,! t]m ,/ate means
 ea* ( ! sev]al ,/ates1 ! ,di/rict (    
,colombia1 & ea* t]ritory ( ! ,unit$    
,/ates4  7#e7 ,/ate regulator ,! t]m    
,/ate regulator means-- 7,a7 ) respect  
to a ,f$]al bank+ ag5cy1 a ,/ate bank+  
regulator2 &  7,b7 ) respect to !       
,national ,cr$it ,union ,adm9i/ration1 !
 ,/ate regulatory ag5cy hav+            
jurisdiction ov] a ,/ate cr$it union 7z 

su* t]m is def9$ 9 section #aja ( !     
,f$]al ,cr$it ,union ,act 7#ab ,u4,s4,c4
 #ageb774  7b7 ,rule ( con/ruction ,=   
purposes ( ?is ,act1 ! process ( apply+ 
to become a de novo regulat$ in/itution 
%all include ! process ( apply+ = ,f$]al
 deposit insurance1 ,f$]al %>e          
insurance1 or memb]%ip ( a ,f$]al res]ve
 bank4  ,septemb] #h1 #bjbe,report$ ) an
 am5dm5t1 committ$ to ! ,committee ( !  
,:ole ,h\se on ! ,/ate ( ! ,union1 &    
ord]$ to be pr9t$