H.R. 7403 · 118th Congress
Bank Failure Prevention Act of 2024
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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
BarrSponsor2 cosponsors · 2 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill revises the Federal Reserve Board’s review process of merger and acquisition applications for bank holding companies.
What it does: CRS summary · Introduced in House · Feb 16, 2024
Bank Failure Prevention Act of 2024
This bill revises the Federal Reserve Board’s review process of merger and acquisition applications for bank holding companies.
Specifically, the board must notify the applicant within a certain time period regarding whether the application is complete or if additional information is required. The board must grant or deny such an application no later than 90 days after submission, regardless of whether the application was deemed complete. (Currently, the board must grant or deny an application no later than 90 days after receipt of a complete application.)
In addition, the board is prohibited from basing such application determinations on information provided by third parties.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Bank Failure Prevention Act of 2024
Latest action (Feb 16, 2024): Referred to the House Committee on Financial Services.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Feb 16, 2024
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.