Bill > HR6546

This bill requires the Inspector General of each Federal prudential regulator (specifically the Board of Governors of the Federal Reserve System, the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the National Credit Union Administration Board) to conduct a comprehensive review every three years of how these agencies handle merger applications for insured depository institutions. The review must evaluate quantifiable metrics like average application processing times, identify sources of potential delays in merger proposals, and provide specific recommendations to improve the timeliness and efficiency of application processing while maintaining the agencies' statutory responsibilities. After each review, the Inspector General must issue a report to Congress detailing their findings, and the relevant agency must then submit a written response that includes a plan to implement the recommendations. The bill defines various terms such as "insured depository institution" (which includes banks and credit unions) and specifies the types of merger applications covered, including those related to acquiring an institution's equity, assets, or deposits under several existing federal banking laws. The primary goal is to enhance transparency and efficiency in the federal regulatory process for bank and credit union mergers.

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