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S. 113 119th Congress Senate

Promoting New Bank Formation Act of 2025

Official title: A bill to require the appropriate Federal banking agencies to establish a 3-year phase-in period for de novo financial institutions to comply with Federal capi… Show full official titleShow less

Official title: A bill to require the appropriate Federal banking agencies to establish a 3-year phase-in period for de novo financial institutions to comply with Federal capital standards, to provide relief for de novo rural community banks, and for other purposes.

Introduced: January 16, 2025 Introduced by: Cindy Hyde-Smith Republican · Mississippi See on congress.gov
Finance and Financial Sector
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 16, 2025
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Jan 16, 2025
Introduced in Senate
 Votes taken on this bill 1
DateChamberWhat was voted onResultYes–No
May 8, 2003 Senate · vote #146 On Passage of the Bill S. 113 Passed 90–4 See who voted →
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What's happening now January 16, 2025

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Plain-English summary Congressional Research Service

Promoting New Bank Formation Act of 2025

This bill eliminates and reduces certain requirements applicable to new financial institutions, certain rural community banks, and federal savings associations.

Under the bill, federal banking agencies must issue rules allowing new financial institutions to meet capital requirements within three years. During this period, a financial institution may request to deviate from an approved business plan and the appropriate agency has 30 days to approve or deny the request.

In addition, the community bank leverage ratio—a way of evaluating debt levels—is reduced for new rural community banks. Specifically, new rural community banks must have a ratio of 8%, with a three-year phase-in of the rate. After this period, the ratio rises to its current level of 9%. 

Finally, the bill removes certain restrictions to allow federal savings associations to invest in, sell, or otherwise deal in agricultural loans.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Lobbying activity 14

Registered lobbyists who named this bill in their disclosure filings. Source: federal Lobbying Disclosure Act filings.

Bodies those filers lobbied

A filing lists the bills it worked on and the parts of government it contacted in separate sections, so these are the bodies those filers named anywhere in the filing, not a per-bill breakdown.

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 Cosponsors 1
All 1 Republican 1
R
Sheehy, Tim
Montana · Jan 27, 2025
Cite this page click to expand
APA
U.S. Congress. (2026). S. 113: Promoting New Bank Formation Act of 2025. 119th Congress. Open America. https://openamerica.io/bill/119-S-113/
MLA
"S. 113: Promoting New Bank Formation Act of 2025." 119th Congress, 2026, Open America, https://openamerica.io/bill/119-S-113/.
Bluebook (legal)
S. 113, 119th Cong. (2026), https://openamerica.io/bill/119-S-113/.
Markdown link
[S. 113: Promoting New Bank Formation Act of 2025](https://openamerica.io/bill/119-S-113/)
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