The American Access to Banking Act aims to promote the formation of de novo regulated institutions , such as new banks and credit unions, by directing federal financial regulatory agencies to streamline their application processes. These agencies must review and simplify application forms, and where practicable, gather necessary information from other federal sources to reduce the burden on applicants. Additionally, the bill requires consultation with the Securities and Exchange Commission to analyze how de novo institutions raise capital, considering both general restrictions and those affecting non-accredited investors. To further support new institutions, the bill mandates that agencies designate a caseworker for applicants upon request, providing tutorials and serving as a primary point of contact throughout the application process. It also establishes a program for mentor-protege partnerships , connecting new applicants with recently approved institutions for advice. Furthermore, agencies must develop comprehensive engagement plans to consult with state regulators and various stakeholders, including rural institutions, community development financial institutions, and minority depository institutions, to identify reforms and provide guidance and training.