This bill requires federal banking agencies to study how to strengthen rural banking services. Specifically, the Federal Reserve, the Comptroller of the Currency, and the Federal Deposit Insurance Corporation must jointly examine methods to improve the growth, capital adequacy, and profitability of depository institutions serving rural areas, and identify any federal laws or regulations that hinder rural banking development or the creation of new rural banks. Separately, the National Credit Union Administration must conduct a similar study focused on credit unions in rural areas. Both agencies must submit their findings and recommendations to Congress within one year of the bill's enactment. The bill does not specify any dedicated funding and instead directs existing federal banking regulators to conduct the research as part of their regular duties.
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