Rural Depositories Revitalization Study

Summary#

This bill directs the three Federal banking agencies (the Board of Governors of the Federal Reserve System, the Comptroller of the Currency, and the Federal Deposit Insurance Corporation) to jointly carry out a study. The study must identify ways to improve the growth, capital adequacy, and profitability of depository institutions that primarily serve rural areas. It must also identify Federal statutes or agency regulations that limit those methods or that limit the establishment of de novo depository institutions in rural areas. The agencies must issue a joint report to Congress with all findings and determinations not later than 6 months after the bill becomes law. The bill defines "depository institution" by reference to section 3 of the Federal Deposit Insurance Act.

What it means for you#

• If you operate, work at, or use a rural depository institution, federal banking regulators will study factors that affect growth, capital, and profitability for such institutions.
• The bill requires only a study and a report; it does not itself change rules, create new programs, or provide funding.
• The report could identify specific statutory or regulatory barriers, but any action to change those laws or rules would require separate steps by Congress or the agencies.

Expenses#

No publicly available information on estimated costs or funding is included in the bill text. The bill requires the agencies to perform the study and deliver a report within 6 months but does not specify funding amounts or budget offsets.

Proponents' View#

No publicly available information.

Opponents' View#

No publicly available information.