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![handle is hein.congrecreports/crptxagtd0001 and id is 1 raw text is: AUT-ENTICATED
US. GOVERNMENT
INFORMATION
GP
118TH CONGRESS REPORT
2d Session HOUSE OF REPRESENTATIVES 118-786
PROMOTING ACCESS TO CAPITAL IN UNDERBANKED
COMMUNITIES ACT OF 2023
DECEMBER 3, 2024.-Committed to the Committee of the Whole House on the State
of the Union and ordered to be printed
Mr. McHENRY, from the Committee on Financial Services,
submitted the following
REPORT
together with
MINORITY VIEWS
[To accompany H.R. 758]
The Committee on Financial Services, to whom was referred the
bill (H.R. 758) to require the appropriate Federal banking agencies
to establish a 3-year phase-in period for de novo financial institu-
tions to comply with Federal capital standards, to provide relief for
de novo rural community banks, and for other purposes, having
considered the same, reports favorably thereon with an amendment
and recommends that the bill as amended do pass.
CONTENTS
Page
Purpose and Sum m ary ........................................................................................... . 3
Background and Need for Legislation .................................................................... 3
R elated H earing ...................................................................................................... . 3
Com m ittee Consideration ........................................................................................ 3
C om m ittee V otes ..................................................................................................... 4
Com m ittee Oversight Findings ............................................................................... 6
Perform ance Goals and Objectives ......................................................................... 6
Congressional Budget Office Estimates ................................................................. 6
New Budget Authority, Entitlement Authority, and Tax Expenditures ............. 6
Federal M andates Statem ent ................................................................................. 6
Advisory Com m ittee Statem ent .............................................................................. 6
Applicability to Legislative Branch ........................................................................ 6
Earm ark Identification ............................................................................................ 7
Duplication of Federal Program s ............................................................................ 7
Section-by-Section Analysis of the Legislation ...................................................... 7
R am seyer ................................................................................................................. . 8
M inority V iew s ........................................................................................................ 42
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