What is the current status of HR 6551?

HR 6551 is currently: In House.

Who sponsored HR 6551?

HR 6551 was sponsored by Barry Loudermilk (R), Rep.

Annual Bank Application Reporting Bill

IntroducedDecember 10, 2025

In House8 months ago

Intro

House

Senate

Pres

Waiting for a House floor vote.

It has cleared committee and can be brought up at any time, though no date is set.

Finance and Financial SectorBanking and financial institutions regulationCongressional oversightFinancial crises and stabilizationGovernment information and archivesGovernment studies and investigationsLicensing and registrations

Why This Matters

This bill aims to make the application process for banks and credit unions clearer by requiring annual reports on how many applications are submitted and their outcomes. It helps people understand how long it takes to get approved and why some applications are denied.

If you want to open a bank or credit union, you will have clearer information on the application process and approval times.

Who this affects

Individuals starting banks · Businesses expanding banks · Individuals starting credit unions · Businesses expanding credit unions

What changes is this bill making?

1This bill requires annual reports on bank and credit union charter applications.
2It tracks the number of applications received, approved, denied, or withdrawn.
3The reports will include average approval times for these applications.
4Common reasons for application denials will also be reported.
5The goal is to improve transparency in the banking application process.

Read full document

Last changed 4 months ago · checked hourly

Annual Bank Application Reporting Bill

IntroducedDecember 10, 2025

In House8 months ago

Intro

House

Senate

Pres

Waiting for a House floor vote.

It has cleared committee and can be brought up at any time, though no date is set.

Why This Matters

If you want to open a bank or credit union, you will have clearer information on the application process and approval times.

Who this affects

Individuals starting banks · Businesses expanding banks · Individuals starting credit unions · Businesses expanding credit unions

What changes is this bill making?

1This bill requires annual reports on bank and credit union charter applications.
2It tracks the number of applications received, approved, denied, or withdrawn.
3The reports will include average approval times for these applications.
4Common reasons for application denials will also be reported.
5The goal is to improve transparency in the banking application process.

Read full document

Last changed 4 months ago · checked hourly