Enacted
A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Office of the Comptroller of the Currency of the Department of the Treasury relating to the review of applications under the Bank Merger Act.
This resolution cancels a federal policy that placed tighter limits and increased regulatory scrutiny on bank mergers. Blocking the rule restores a faster, less demanding approval process for banks seeking to combine or acquire competitors. For everyday consumers and businesses, this makes it easier for banks to consolidate, which can reduce the number of independent local banks while allowing larger institutions to expand.
People affected—The text invalidates a regulatory rule affecting banking institutions seeking business combinations; no population count is stated or determinable from the text.
Fiscal magnitude—The text contains no appropriations, authorizations, or fiscal figures.
Reach40provisional · pending reviewrigor: heuristic llm
What this bill touches.
Banking/financial rules−30Corporate concentration−20
Who it helps · who it burdens.
Who opposes it
- Office of the Comptroller of the CurrencyThe bill nullifies the agency's September 25, 2024 rule regarding business combinations under the Bank Merger Act, stripping it of legal force and effect.
The provisions, in plain language.
Nullifies the Office of the Comptroller of the Currency's rule regarding business combinations under the Bank Merger Act, preventing it from taking or remaining in effect.