Federal Legislation
Congress Mandates Bank Application Reporting
February 25, 2026
The New Bank Application Numbers Knowledge Act of 2025 requires key federal financial regulatory agencies—including the Federal Reserve Board (FRB), Federal Deposit Insurance Corporation (FDIC), Office of the Comptroller of the Currency (OCC), and National Credit Union Administration (NCUA)—to publish annual reports detailing application metrics for bank charters, deposit insurance, and holding company approvals. This legislation aims to enhance transparency and predictability in the bank chartering and approval process, which directly impacts procurement and compliance activities related to financial institution formation and regulatory oversight.
- Procurement professionals supporting financial institutions should anticipate increased demand for services related to regulatory reporting, compliance monitoring, and data analytics to align with the new transparency requirements.
- Contractors providing technology solutions for data collection, reporting, and regulatory compliance may find new opportunities to assist federal agencies and financial entities in meeting mandated reporting standards.
- Agencies involved in bank chartering and supervision will require updated processes and systems to fulfill the annual reporting obligations, potentially leading to procurement of consulting, IT, and professional services.
- Organizations engaged in financial services procurement should evaluate how these reporting mandates affect timelines and requirements for bank formation and approval-related contracts.
Agencies
Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, National Credit Union Administration, Committee on Financial Services
Locations
Sources
- H. Rept. 119-530 - NEW BANK APPLICATION NUMBERS KNOWLEDGE ACT OF 2025 · congress · Feb 25