Promoting New and Diverse Depository Institutions Act

HR 1533 requires federal banking regulators (like the Fed, OCC, and FDIC) to study challenges faced by new banks - especially minority-owned depository institutions and community development financial institutions - seeking charters. Within 18 months, they must submit a public report and strategic plan to Congress, outlining steps to help these institutions successfully apply for charters while expanding banking access in underserved areas. The plan must address safety, consumer protection, and creating a "level playing field" for new institutions. It directly affects proposed minority depository institutions and communities lacking branch banking access, with no funding or immediate policy changes - only a regulatory study and planning process.