A New York Community Bank branch is in upper Manhattan in New York on Friday, February 9, 2024. (AP Photo/Ted Shaffrey) In July, the 21st Century ROAD to Housing Act became law, carrying a provision that drew almost no attention. It directs federal banking regulators to run a two-year pilot that makes it easier to charter new community banks — with particular attention to rural areas — and gives banks chartered between 2026 and 2028 a phase-in period to meet capital requirements.
