New banks would get three years to fully meet federal capital rules. Small rural banks would also get easier early leverage rules. Regulators would study why so few new banks have opened.
Modern Action explains legislation in plain English, helps you choose whether to support, oppose, or ask for changes, and drafts a message tied to the bill, your stance, and the elected officials who can act on it.
Promoting New Bank Formation Act is a House bill waiting for floor action. The latest recorded action: Placed on the Union Calendar, Calendar No. 64.
Latest action on H.R. 478: Placed on the Union Calendar, Calendar No. 64.
Who this affects: This bill mainly affects people trying to start banks, small rural banks, Federal savings associations, and communities with fewer banking choices. New banks could face a slower ramp-up into federal capital rules. Rural banks could get easier early leverage rules. Farmers and farm businesses could see more lending options from Federal savings associations.
Why this matters: Starting a new bank can be hard when early capital rules are costly or rigid. This bill could make new banks easier to launch, especially in rural areas with fewer banking options. It could also help small towns and farming areas get more access to loans. The tradeoff is that capital and leverage rules help protect banks from losses, so weaker early rules could raise safety concerns.
You do not have to start with a blank letter. Modern Action turns the bill, your position, and the relevant congressional context into a message you can edit and send. The goal is to make contacting Congress clear, specific, and useful without forcing you to parse bill text or figure out the right office on your own.
Officially: Promoting New Bank Formation Act
New banks would get three years to fully meet federal capital rules. Small rural banks would also get easier early leverage rules. Regulators would study why so few new banks have opened.
Use this page to support, oppose, or ask Congress to amend H.R.478. Modern Action explains Promoting New Bank Formation Act in plain English, helps identify the right senators or representative, and drafts a bill-specific message you can edit and send.
Where it stands
floor_pending
Your representatives are deciding where they stand. A few messages can tip the balance.
↓ Why your message matters here
This bill is moving through Congress right now — your representative needs to hear from you.
Enter your ZIP to see how your senators and member of Congress have voted, sponsored, or spoken on this bill.
Where this bill is in the process
Introduced
Introduced in House
House Committee
Under House committee consideration
House Floor Vote
Voted on by House
Latest: Placed on the Union Calendar, Calendar No. 64. (5/6/2025)
Passed House
Approved by House
Senate Review
Sent to Senate for consideration
Passed Both Chambers
Approved by both House and Senate
Signed into Law
Signed by the President
For more detail
Choose one clear position: support, oppose, or amend. Then pick any reasons or personal context you want included. Modern Action uses that input and the bill context to draft a message you can edit and send.
Congressional offices prioritize messages from their own constituents. Modern Action uses your address to route the drafted message to your House representative when that is the most relevant target for this bill.
The draft includes the bill number, your position, the reasons you selected, any personal context you added, and a direct ask such as voting yes, voting no, cosponsoring, opposing, or seeking changes. You stay in control because you can edit the message before sending.
This page gives you an opportunity to support, oppose, or ask for changes to Promoting New Bank Formation Act, then contact the elected officials who can act. Modern Action drafts the message from your position and the reasons you select.
Modern Action keeps the action tied to the bill itself: what it would do, where it is in the process (floor pending), which office can still act, and what ask belongs in the message.
You are not starting from a blank form. Modern Action drafts the message around H.R.478, your stance, and the reasons you choose, then lets you edit and send when ready.
