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![handle is hein.congrecreports/crptxahka0001 and id is 1 raw text is: AUT-ENTICATED
US. GOVERNMENT
INFORMATION
GP
119TH CONGRESS REPORT
1st Session HOUSE OF REPRESENTATIVES 119-90
PROMOTING NEW BANK FORMATION ACT
MAY 6, 2025.-Committed to the Committee of the Whole House on the State of the
Union and ordered to be printed
Mr. HILL of Arkansas, from the Committee on Financial Services,
submitted the following
REPORT
together with
MINORITY VIEWS
[To accompany H.R. 478]
The Committee on Financial Services, to whom was referred the
bill (H.R. 478) 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
Com m ittee Consideration ........................................................................................ 3
R elated H earings ..................................................................................................... 4
C om m ittee V otes ..................................................................................................... 4
Com m ittee Oversight Findings ............................................................................... 7
Perform ance Goals and Objectives ......................................................................... 7
Com m ittee Cost Estim ate ....................................................................................... 7
New Budget Authority and CBO Cost Estimate ................................................... 7
Unfunded M andates Statem ent ............................................................................. 7
E arm ark Statem ent ................................................................................................. 7
Federal Advisory Committee Act Statement ......................................................... 7
Applicability to the Legislative Branch ................................................................. 8
Duplication of Federal Program s ............................................................................ 8
Section-by-Section Analysis of the Legislation ...................................................... 8
Changes in Existing Law Made by the Bill, as Reported ................. 9
M inority V iew s ........................................................................................................ 43
The amendment is as follows:
59-006](ViewImageLocal?handle=hein.congrecreports/crptxahka0001&div=1&collection=&method=preview&ext=.png&size=3)