H.R. 5419 · 117th Congress
Bank Merger Review Modernization Act of 2021
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
GarcíaSponsorNo cosponsors.
This bill establishes additional requirements for bank mergers and acquisitions, including by requiring
What it does: CRS summary · Introduced in House · Sep 29, 2021
Bank Merger Review Modernization Act of 2021
This bill establishes additional requirements for bank mergers and acquisitions, including by requiring
- approval from the Consumer Financial Protection Bureau for certain mergers involving a provider of consumer financial products,
- financial regulators to determine that the public benefits of any merger outweigh the costs,
- specified community reinvestment ratings, and
- institutions to meet certain financial stability standards and stress testing.
Further, financial regulators must assess the competitive effects a merger will have on the market for certain financial products.
Additionally, applicants for a bank merger must disclose specified communications regarding the proposed merger.
The bill also provides citizens with standing to file a civil action to review a merger approval.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Bank Merger Review Modernization Act of 2021
Latest action (Sep 29, 2021): Referred to the House Committee on Financial Services.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Sep 29, 2021
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.