•    "It’s no coincidence that we’re seeing a decline in de novo banks. This longstanding trend stems from several factors over the years, including an overly complex application process, a challenging interest rate environment, and for some, the added burden of discrimination and systemic bias faced by individuals wishing to provide financial access to underserved communities. As Trump regulators resume rubber stamping massive bank mergers, like the recent Capital One-Discover deal, and begin rolling back oversight for our largest banks and nonbank financial companies, it’s critical that the United States encourages the creation of new community banks and credit unions to compete and serve our communities. My bill is designed to do just that. By advancing solutions to key concerns raised by those who are trying to start a new community financial institution, Congress can support the creation of more community financial institutions, including Minority Depository Institutions and Community Development Financial Institutions, and ensure that historically excluded communities across the country have access to equitable and affordable financial services. As we know, community banks and credit unions serve as both a backbone and lifeline for underserved areas, filling critical gaps and expanding credit to families in need as well as entrepreneurs looking to start a small business." Source: Rep. Maxine Waters (Democrat, California, District 43) opposing "American Access to Banking Act" (H.R. 4544)