To help expand access to banking services and promote financial inclusion, Rep. Andy Barr (R-Ky.) last week introduced H.R. 758, which would establish a three-year phase-in period for new banks to comply with federal capital standards and provide relief for de novos in rural communities, among other provisions designed to promote de novo formation. Barr introduced a similar bill in the last two Congresses. The American Bankers Association has strongly supported this legislation whenever it has been introduced.
Bankers take part in Teach Children to Save Day
Banks across the country will participate today in the ABA Foundation's 28th annual Teach Children to Save Day.