New BANK Act of 2025

The New BANK Act (New Bank Application Numbers Knowledge Act) would require federal banking regulators—including the Federal Reserve, FDIC, Office of the Comptroller of the Currency, and National Credit Union Administration—to publish annual reports detailing applications they receive for federal depository institution charters, depository institution holding companies, federal deposit insurance, and state depository institution charters. This bill has passed the House Financial Services Committee with bipartisan support and is eligible for a floor vote.

The legislation aims to increase transparency and accountability in how federal banking regulators process charter applications. By making this data publicly available, Congress and the public would be better able to identify potential inefficiencies or favoritism in the banking sector. Supporters argue this would help ensure Americans have access to a competitive banking market with multiple options across national banks, state banks, and credit unions. The bill does not directly change banking regulations but rather requires regulators to report on their application processes.