American Access to Banking Act
Sponsor: Maxine Waters (D-CA)
This bill requires federal financial regulators to review and streamline the application process for the formation of de novo, or new, depository institutions or credit unions. Regulators must (1) review the application process; (2) to the extent practicable, collect necessary information from other agencies in order to minimize requests for applicant information; and (3) review how de novo financial intuitions raise capital while maintaining investor protections, including the impact of restrictions on raising capital. At the request of an applicant, regulators must (1) designate an employee as a caseworker to assist in the application process, and (2) provide a list of similar institutions interested in serving as a mentor.
Finance and Financial Sector Topic assigned by the Congressional Research Service.
Who won, and how much of the country was behind them
The dotted gap is 6.0% of U.S. adults whose member did not vote, voted “present,” or whose seat was vacant.
| Side | Outcome | Votes | Share of U.S. adults |
|---|---|---|---|
| Yea | Won | 405 | 93.0% |
| Nay | Lost | 4 | 1.0% |
| Not represented on this question | No position taken | 0 | 6.0% |