Rural Depositories Revitalization Study Act
Take action
Record your position on this measure.
Create an account to record your position, submit testimony, or contact your legislator.
Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Overview
This bill directs the Federal banking agencies – the Federal Reserve, the Comptroller of the Currency, and the FDIC – to conduct a study on how to support and revitalize rural banks and credit unions. The study will examine methods to improve their growth, financial health, and profitability, as well as identify any federal laws or regulations that might be hindering these institutions or the creation of new ones in rural communities. The agencies are required to submit a report to Congress detailing their findings and recommendations within six months of the bill’s enactment.
Key provisions
- A joint study by the Federal banking agencies on improving rural depository institutions.
- Identification of methods to enhance the growth, capital, and profitability of rural banks.
- Identification of federal statutes and regulations limiting rural depository institutions.
- A report to Congress within six months of enactment outlining the study's findings.
Who is affected
- Rural depository institutions (banks and credit unions)
- Federal banking agencies (Federal Reserve, Comptroller of the Currency, FDIC)
- Congress
- Rural communities
- Financial sector
Notable changes
- The bill mandates a comprehensive study of existing regulations and statutes impacting rural banks.
- It aims to identify barriers to growth and new establishment in rural areas.
Bill text
Read the latest version inline or switch to a previous version.
Text extraction is in progress. View the official source.
Sponsors
Official sponsors from legislative records.
4 on record
Primary sponsor
Cosponsors
Arguments
Reasons offered for and against this legislation.
Arguments in favor
No arguments in favor have been submitted.
Submit yoursArguments opposed
No arguments opposed have been submitted.
Submit yours