; and (B) located in a rural area, as defined in section 1026.35(b)(2)(iv)(A) of title 12, Code of Federal Regulations, or any successor regulation. 4. Phase-in of capital standards The appropriate Federal banking agencies shall issue rules that provide for a 3-year phase-in period for a financial institution to meet any Federal capital requirements that would otherwise be applicable to the financial institution, where the 3-year period begins on the date on which the deposit insurance that the financial institution has obtained from the Federal Deposit Insurance Corporation becomes effective. 5. Changes to business plans (a) In general During the 3-year period beginning on the date on which the deposit insurance that the financial institution has obtained from the Federal Deposit Insurance Corporation becomes effective, a financial institution may request to deviate from a business plan that has been approved by the appropriate Federal banking agency by submitting a request to the agency pursuant to this section. (b) Review of changes An appropriate Federal banking agency shall, not later than the end of the 30-day period beginning on the receipt of a request under subsection (a)— (1) approve, conditionally approve, or deny the request; and (2) notify the financial institution of the decision and, if the agency denies the request— (A) provide the financial institution with the reason for the denial