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H.R. 478119th CongressFinance and Financial Sector
Promoting New Bank Formation Act
Sponsored by Rep. Andy Barr (R-KY) · 24 active : 24 Republicans
Latest action: Placed on the Union Calendar, Calendar No. 64.
Where it standsBefore the House71 representatives score as swing votes
Hasn’t passed either chamber
- House: next
- Senate: not yet
- President: not yet
Summary
, via Congress.govPromoting New Bank Formation Act
This bill eliminates and reduces certain requirements applicable to new depository institutions, certain rural community depository institutions, and federal savings associations.
Federal banking agencies must issue rules allowing a new depository institution or depository institution holding company three years to meet capital requirements. During this period, a depository institution or its depository institution holding company may request to deviate from an approved business plan, and the appropriate agency has 30 days to approve or deny the request.
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In addition, the community bank leverage ratio—a way of evaluating debt levels—is reduced for new rural community depository institutions. Specifically, new rural community depository institutions 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.
Committees and subjects
Committees
- House Committee on Financial Services · HouseReported by · Markup by · Referred to
Subjects
- Administrative law and regulatory procedures
- Agricultural prices, subsidies, credit
- Bank accounts, deposits, capital
- Banking and financial institutions regulation
- Congressional oversight
- Credit and credit markets
- Financial services and investments
- Government information and archives
- Government studies and investigations
- Rural conditions and development
Model
Directional: count only breaks toward the other partyWhy do scores change?v3default (selected)v2 model swing-v2
How the Senate breaks down
- 11Swing 70–100
- 65Middle 30–70
- 24Entrenched 0–30
Members fall into . All 100 senators have enough data to score. The bill is not before the Senate right now; these scores show where members would stand.
Key players in the Senate
Ranked by swing score, 0–100 · swing-v3, directional: only movement toward the other party counts, so members who sit further from the center than their party no longer score as swing votes.
Bars show each input from 0 to 100: ideology gap, scorecard gap, , and the . is the seat’s partisan lean, and shows how much of the input data a score has.
Similar past votes, Senate
Earlier behind swing-v3’s inputLoading similar votes
Cosponsors
24 activeShow all 24 cosponsors
- Daniel Meuser (R-PA-9)
- Barry Loudermilk (R-GA-11)
- Ben Cline (R-VA-6)
- Jake Ellzey (R-TX-6)
- Monica De La Cruz (R-TX-15)
- Troy Downing (R-MT-2)
- Bill Huizenga (R-MI-4)
- Brad Knott (R-NC-13)
- Scott Franklin (R-FL-18)
- William R. Timmons (R-SC-4)
- Byron Donalds (R-FL-19)
- Gary J. Palmer (R-AL-6)
- Mike Flood (R-NE-1)
- Neal P. Dunn (R-FL-2)
- Roger Williams (R-TX-25)
- Addison P. McDowell (R-NC-6)
- John W. Rose (R-TN-6)
- Mark Alford (R-MO-4)
- Derek Schmidt (R-KS-2)
- Scott Fitzgerald
How the swing score works
Ideology gapHow far a member’s DW-NOMINATE voting score sits from their party’s median in the same chamber.
Scorecard gapHow far their Heritage Action and LCV ratings stray from their party’s average, using the groups’ votes on similar bills where available.
Cross-pressureHow strongly their district or state leans toward the other party, from our own computed partisan lean.
Similar votesHow often they voted against their own party on earlier roll calls about this bill or similar ones.
Committee bonusMembers of the committees handling the bill decide whether it moves, so they get a boost.
Cosponsor checkThe sponsor and active cosponsors have already committed, so they drop toward entrenched.
