Bill > HR6546

This bill, titled the Merger Process Review Act, mandates that the Inspector General of each Federal prudential regulator, which includes agencies like the Federal Reserve, the Comptroller of the Currency, the Federal Deposit Insurance Corporation (FDIC), and the National Credit Union Administration (NCUA), conduct a comprehensive review every three years of how these agencies handle applications for mergers involving insured depository institutions. Insured depository institutions are essentially banks and credit unions that hold federal deposit insurance. The review, which must begin within one year of the bill's enactment, will evaluate the timeliness and efficiency of the merger review procedures, identify reasons for delays, consider different review approaches, assess the impact of these reviews on financial stability and competition, and provide recommendations for improvement. Following each review, the Inspector General will issue a public report to Congress, and the relevant regulatory agency must then submit a public response, including a plan to implement the recommendations where appropriate.

Business and Industry

https://www.congress.gov/bill/119th-congress/house-bill/6546/all-info