S. 4517 — Introduced in Senate

II 119th CONGRESS 2d Session S. 4517 IN THE SENATE OF THE UNITED STATES May 13, 2026Mr. Ricketts (for himself and Mr. Warnock) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs A BILL To require Federal banking agencies to carry out a study on rural depository revitalization. 1. Short title This Act may be cited as the Rural Depositories Revitalization Study Act. 2. Definitions In this Act: (1) Depository institution The term depository institution has the meaning given the term in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813). (2) Federal banking agencies The term Federal banking agencies means the Board of Governors of the Federal Reserve System, the Comptroller of the Currency, and the Federal Deposit Insurance Corporation. (3) Rural With respect to an area, the term rural has the meaning given the term in section 1026.35(b)(2)(iv)(A) of title 12, Code of Federal Regulations. 3. Rural depositories revitalization study (a) Federal banking agencies (1) Study The Federal banking agencies shall carry out a joint study— (A) to identify methods to improve the growth, capital adequacy, and profitability of depository institutions in the United States that primarily serve rural areas; and (B) to identify Federal statutes (other than appropriations Acts) or regulations of the Federal banking agencies that limit— (i) the methods identified under subparagraph (A); or (ii) the establishment of de novo depository institutions in rural areas. (2) Report Not later than 1 year after the date of enactment of this Act, the Federal banking agencies shall submit to Congress a joint report containing all findings and determinations made in carrying out the study required under paragraph (1). (b) National Credit Union Administration (1) Study The National Credit Union Administration shall carry out a study— (A) to identify methods to improve the growth, capital adequacy, and profitability of credit unions in the United States that primarily serve rural areas; and (B) to identify Federal statutes (other than appropriations Acts) or regulations of the National Credit Union Administration that limit— (i) the methods identified under subparagraph (A); or (ii) the establishment of de novo credit unions in rural areas. (2) Report Not later than 1 year after the date of enactment of this Act, the National Credit Union Administration shall submit to Congress a report containing all findings and determinations made in carrying out the study required under paragraph (1).