This bill requires several federal financial regulators to publish yearly reports about charter and related applications. The Office of the Comptroller of the Currency (OCC) must report counts and processing times for national bank and federal savings association charter applications and list common reasons applications are denied, withdrawn, or otherwise not completed. The National Credit Union Administration (NCUA) must report counts, times to establish proofs of concept, final approval times, and common reasons applications fail for federal credit union charters. The Federal Reserve Board must report counts, approval times, and common reasons for denial or withdrawal of top-tier depository institution holding company applications. The Federal Deposit Insurance Corporation (FDIC) must report counts, approval times, and common reasons for denial or withdrawal of deposit insurance applications. The Fed, FDIC, and NCUA must jointly publish an annual report, in consultation with state banking and credit union regulators, with counts, mean and median approval times, and common reasons for denial or withdrawal of state depository institution and state credit union charter applications, shown separately for each State. The bill also defines terms such as "State," "State bank," "State depository institution," and "State savings association."
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