This bill aims to foster the creation of new financial institutions by easing certain regulatory burdens. It mandates that Federal banking agencies establish a three-year phase-in period for de novo depository institutions and holding companies to meet otherwise applicable Federal capital requirements, starting from their inception as insured institutions. During this initial three-year period, the bill allows new institutions to request deviations from their approved business plans. Federal banking agencies are required to respond to such requests within 30 days, either approving, conditionally approving, or denying them with specific reasons and suggested modifications; failure to act within this timeframe results in automatic approval. For rural community depository institutions , defined as those with less than $10 billion in assets located in rural areas, the bill sets their Community Bank Leverage Ratio at 8 percent during their first three years. Agencies are also directed to issue rules to phase in even lower leverage ratio percentages during the first two years of this period, providing additional relief. Furthermore, the legislation expands the lending authority for Federal savings associations to include agricultural loans , both secured and unsecured. It also requires Federal banking agencies to conduct a joint study on the principal causes for the low number of de novo insured depository institutions over the past decade and to identify ways to promote their formation in underserved areas, with a report due to Congress within one year.