Rural Depositories Revitalization Study Act
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Overview
This bill directs the Federal banking agencies and the National Credit Union Administration to conduct a joint study on how to strengthen and grow rural banks and credit unions. The study will examine factors limiting growth and establishment in these areas and recommend potential solutions. The agencies are required to submit a comprehensive report to Congress within one year of the bill’s enactment.
Key provisions
- Requires the Federal Reserve, the Comptroller of the Currency, and the FDIC to conduct a joint study.
- Requires the National Credit Union Administration to conduct a separate study.
- The studies will focus on improving the growth, capital adequacy, and profitability of rural financial institutions.
- The studies will identify regulations that hinder growth in rural areas.
- Both agencies must submit a joint report to Congress within one year.
Who is affected
- Rural banks
- Rural credit unions
- Federal banking agencies
- National Credit Union Administration
- Rural communities
Notable changes
- Establishes a requirement for a comprehensive study of rural financial institutions.
- Directs agencies to identify and recommend changes to regulations that may be hindering rural growth.
Bill text
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Sponsors
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2 on record
Primary sponsor
Cosponsor
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