Bank Merger Review Modernization Act of 2019
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Dec 5, 2019)
Bank Merger Review Modernization Act of 2019
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.
Financial regulators must assess the competitive effects a merger will have on the market for certain financial products.
Applicants for a bank merger must disclose specified communications regarding the proposed merger.
The bill provides citizens with standing to file a civil action to review a merger approval.
What just happenedDec 5, 2019
Referred to the House Committee on Financial Services.
Who’s behind it
- Introduced in HouseDec 5, 2019
- Dec 5, 2019IntroReferralH11100
Referred to the House Committee on Financial Services.
Financial Services Committee - Dec 5, 2019IntroReferralB00100
Sponsor introductory remarks on measure. (CR E1545)
- Dec 5, 2019IntroReferralIntro-H
Introduced in House
- Dec 5, 2019IntroReferral1000
Introduced in House