skip to main content

H.R. 4590: Promoting New and Diverse Depository Institutions Act

Call or Write Congress

To require the Federal banking regulators to jointly conduct a study and develop a strategic plan to address challenges faced by proposed depository institutions seeking de novo depository institution charters; and for other purposes.

The bill’s titles are written by its sponsor.

Sponsor and status

Jake Auchincloss

Sponsor. Representative for Massachusetts's 4th congressional district. Democrat.

Read Text »
Last Updated: Jul 27, 2022
Length: 6 pages
Jul 21, 2021
117th Congress (2021–2023)

Passed House (Senate next) on Jul 26, 2022

This bill passed in the House on July 26, 2022 and goes to the Senate next for consideration.

Other activity may have occurred on another bill with identical or similar provisions.


5 Cosponsors (3 Democrats, 2 Republicans)

21% chance of being enacted according to Skopos Labs (details)

Position statements

What legislators are saying

RELEASE: Auchincloss Financial Services Bill Sent to Senate As Standalone
    — Rep. Jake Auchincloss [D-MA4] (Sponsor) on Jul 27, 2022

Perlmutter, Financial Services Subcommittee Examines Future of Banking
    — Rep. Ed Perlmutter [D-CO7] on Sep 29, 2021

the daily leader: tuesday, july 26, 2022
    — Rep. Steny Hoyer [D-MD5] on Jul 25, 2022

More statements at ProPublica Represent...

What stakeholders are saying

R Street Institute estimates H.R. 4590 will add $4 million in new spending through 2031.


Jul 21, 2021

Bills and resolutions are referred to committees which debate the bill before possibly sending it on to the whole chamber.

Jul 29, 2021
Ordered Reported

A committee has voted to issue a report to the full chamber recommending that the bill be considered further. Only about 1 in 4 bills are reported out of committee.

Sep 29, 2021
Considered by Consumer Protection and Financial Institutions

A committee held a hearing or business meeting about the bill.

Jan 20, 2022
Reported by House Committee on Financial Services

A committee issued a report on the bill, which often provides helpful explanatory background on the issue addressed by the bill and the bill's intentions.

Jul 22, 2022
Text Published

Updated bill text was published as of Preprint (Suspension).

Jul 26, 2022
Passed House (Senate next)

The bill was passed in a vote in the House. It goes to the Senate next. The vote was by voice vote so no record of individual votes was made.

If this bill has further action, the following steps may occur next:
Passed Senate

Signed by the President

H.R. 4590 is a bill in the United States Congress.

A bill must be passed by both the House and Senate in identical form and then be signed by the President to become law.

Bills numbers restart every two years. That means there are other bills with the number H.R. 4590. This is the one from the 117th Congress.

How to cite this information.

We recommend the following MLA-formatted citation when using the information you see here in academic work:

“H.R. 4590 — 117th Congress: Promoting New and Diverse Depository Institutions Act.” 2021. September 24, 2022 <>

Where is this information from?

GovTrack automatically collects legislative information from a variety of governmental and non-governmental sources. This page is sourced primarily from, the official portal of the United States Congress. is generally updated one day after events occur, and so legislative activity shown here may be one day behind. Data via the congress project.