Why It Matters
The American Bankers Association (ABA) is lobbying on H.R. 478, the Promoting New Bank Formation Act, a bill that would give newly chartered depository institutions, or de novo banks, three years to meet federal capital requirements. The ABA has cited a decline from 8,833 U.S. banks in 2005 to 4,487, arguing the bill would encourage new bank formation by easing regulatory burdens on startups.
By the Numbers
The ABA's third-quarter 2026 in-house lobbying disclosure reports $3.1 million for the period July 1 through Sept. 30. That is up $930,000 from $2.17 million in the third quarter of 2025, and down $410,000 from $3.51 million in the second quarter of 2026. Across all 14 registrants, the ABA's third-quarter 2026 total stands at $3,706,000. Venture Government Strategies LLC is a new registrant this quarter.
The in-house filing lists 26 lobbyists, several with congressional staff backgrounds:
- Jon Blum, executive vice president of congressional relations and legislative affairs, served on the House Financial Services Committee and in the office of Sen. Todd Young (R-IN); he is new to this filing.
- Jess Sharp, executive vice president of advocacy and innovation, served on the House Transportation and Infrastructure Committee.
- Naomi Camper, chief policy officer, served on the Senate Banking, Housing and Urban Affairs Committee.
- Christian Jorgenson, vice president of the Card Policy Council, served on the House Financial Services Committee.
- Alex Catanese, vice president of congressional relations, and Hugh Carney are also listed.
Broader Context
H.R. 478 would eliminate and reduce certain requirements for new depository institutions, including a three-year capital phase-in and a reduced community bank leverage ratio for new rural community depository institutions. Rep. Andy Barr (R-KY-6) introduced the bill in January 2025; the House Financial Services Committee reported it and placed it on the Union Calendar on May 6, 2025. No further House floor action appears in the records. Sen. Cindy Hyde-Smith (R-MS) introduced a Senate companion, S. 113, in January 2025; no Senate action is recorded.
The ABA backed H.R. 478, noting only 85 banks established after 2010 were active at the time of its statement. The Independent Community Bankers of America (ICBA) also supported the bill, citing benefits for rural de novo community banks.
On BSA reform, ABA President and CEO Rob Nichols said in a statement quoted by the Senate Banking Committee that current reporting requirements are "inefficient, ineffective and increasingly counterproductive, resulting in a flood of data with minimal law enforcement utility."
The Bottom Line
The American Bankers Association reported $3,100,000 in in-house lobbying spending for the third quarter of 2026. H.R. 478 has been eligible for a House floor vote since May 2025; no vote is scheduled, and if the 119th Congress ends without action, the bill lapses and would require reintroduction.
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