H.R. 6551 — New BANK Act of 2025

This section requires the Comptroller of the Currency to publish an annual report on national bank and Federal savings association charter applications that includes (1) the number of applications received, approved preliminarily, approved finally, denied, withdrawn, expired, mooted, or returned; (2) the mean and median times for preliminary approval; (3) the mean and median times for final approval; and (4) to the extent practicable, common reasons for denial, withdrawal, or expiration of preliminary approval.

This section requires the National Credit Union Administration (NCUA) to publish an annual report on Federal credit union charter applications that includes (1) the number of applications received, approved on a final basis, denied, withdrawn, inactive, or returned pending resubmission; (2) the mean and median times for final approval of such applications; and (3), to the extent practicable, common reasons leading to application denial, withdrawal, inactivity, or return for resubmission.

This section requires the Board of Governors of the Federal Reserve System to publish an annual report on applications to become a top-tier depository institution holding company (i.e., the ultimate parent entity owning one or more insured depository institutions) that includes (1) the number of applications received, approved, denied, withdrawn, mooted, or returned; (2) the mean and median times to approve such applications; and (3), to the extent practicable, common reasons leading to denial or withdrawal.

This section requires the Federal Deposit Insurance Corporation to publish an annual report on applications for federal deposit insurance that includes (1) the number of applications received, approved, denied, withdrawn, mooted, or returned; (2) the mean and median times to approve such applications; and (3) to the extent practicable, common reasons leading to denial or withdrawal.

This section directs the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the National Credit Union Administration Board, jointly and in consultation with state banking and credit union regulators, to publish an annual report on state depository institution and state credit union charter applications. The report must include (1) the number of applications received, approved, denied, withdrawn, or otherwise dispositioned by state regulators, shown separately for each state; (2) mean and median times to approve such applications, shown separately for each state; and (3), to the extent practicable, common reasons for denials or withdrawals. "State depository institution" means a state bank, state savings association, or state credit union (as defined in 12 U.S.C. 1752).