We have received text from H.R. 4544: American Access to Banking Act. This bill was received on 2025-07-17, and currently has no cosponsors.
Here is a short summary of the bill:
The American Access to Banking Act aims to facilitate the creation of new, regulated financial institutions, known as de novo regulated institutions. Below are the key provisions the bill proposes:
Streamlining Application Processes
Federal financial regulatory agencies will review and simplify the application process for becoming a de novo regulated institution. This includes:
- Conducting a review of application forms to identify ways to simplify them.
- Gathering necessary information from other government sources to reduce the burden on applicants.
- Working with the Securities and Exchange Commission to evaluate how these institutions can raise capital while protecting investors.
After one year and annually thereafter for five years, these agencies will report to Congress on their actions and any recommendations for improving the application process.
Improving Communication
The bill mandates that each federal regulatory agency designate a caseworker for applicants trying to become de novo institutions. Responsibilities of the caseworker include:
- Meeting with lead organizers of the de novo institution to explain the application process.
- Serving as the primary contact for the organizing team throughout the application process.
- Ensuring continuity by allowing for the designation of new caseworkers based on staff changes.
Mentorship Programs
Federal agencies will provide a list of recently approved de novo institutions that are willing to serve as mentors to new applicants. This initiative aims to:
- Offer practical advice and insights regarding the application process.
- Encourage the sharing of best practices among new financial institutions.
Information regarding this mentorship program will be made public within one year of the bill's enactment.
Engagement with States and Stakeholders
Federal agencies will develop a plan to regularly consult with state regulators and stakeholders. This includes:
- Promoting cooperation between state and federal agencies to aid in the formation of de novo institutions.
- Engaging with current and prospective de novo institution applicants to gather feedback for potential reforms.
- Providing training materials and workshops to clarify the agencies' processes for interested parties.
Each agency will submit its engagement plan to Congress within two years, with opportunities for public comment during its development.
Definitions
The bill clarifies key terms, such as "de novo regulated institution" (newly formed entities subjected to federal oversight) and outlines the roles of federal banking agencies, state regulators, and other relevant definitions to ensure a clear understanding of the legislation's scope and requirements.
Relevant Companies
None found
Representative Maxine Waters Bill Proposals
Here are some bills which have recently been proposed by Representative Maxine Waters:
- H.R.4545: To amend title XVIII of the Social Security Act to require the provision of certain information with respect to breast reconstruction surgery under the Medicare program.
- H.R.4544: American Access to Banking Act
- H.R.4543: To amend title XIX of the Social Security Act to require coverage for certain individual with breast or cervical cancer under the Medicaid program.
- H.R.4069: Downpayment Toward Equity Act of 2025
- H.R.3938: CLASS Act of 2025
- H.R.3573: Stop TRUMP in Crypto Act of 2025
You can track bills proposed by Representative Maxine Waters on Quiver Quantitative's politician page for Waters.
Representative Maxine Waters Net Worth
Quiver Quantitative estimates that Representative Maxine Waters is worth $3.7M, as of July 19th, 2025. This is the 168th highest net worth in Congress, per our live estimates.
Waters has approximately $0 invested in publicly traded assets which Quiver is able to track live.
You can track Representative Maxine Waters's net worth on Quiver Quantitative's politician page for Waters.
This article is not financial advice. See Quiver Quantitative's disclaimers for more information.
