Bill > HR6555

This bill requires the Comptroller of the Currency and the Federal Deposit Insurance Corporation (FDIC) to conduct a comprehensive study on shelf charters and modified bidder qualification processes. A shelf charter is a preliminary banking charter approval that allows an institution to quickly establish a bank, and a modified bidder qualification process enables a broader range of potential buyers to participate in bank acquisition processes. The study will examine all shelf charter approvals between January 2008 and the bill's enactment, review the FDIC's modified bidder qualification process, and analyze how these mechanisms were used in bank receiverships during 2023. The agencies will specifically investigate whether increased use of these processes could have expanded the pool of potential bank buyers, improved market competition and diversity, protected the Deposit Insurance Fund, and enhanced financial stability. Within 270 days of enactment, the agencies must submit a joint report to Congressional financial committees detailing their findings and recommending potential legislative and regulatory changes to improve these processes. The study will be conducted in consultation with the Federal Reserve, and will include definitions of key terms and examine potential barriers to implementing these mechanisms more effectively in bank resolution scenarios.

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https://www.congress.gov/bill/119th-congress/house-bill/6555/all-info