Bank Failure Prevention Act of 2025
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Overview
The Bank Failure Prevention Act of 2025 aims to streamline the review process for bank mergers and acquisitions by the Federal Reserve. It requires the Board to notify applicants within 30 days of receiving an application whether the record is complete or if additional information is needed, and sets a 90-day deadline for approval or denial regardless of the record’s completeness. The bill also prohibits the Board from relying on information from third parties in its decision-making process.
Key provisions
- The Federal Reserve must notify applicants within 30 days regarding the completeness of an application record.
- The Board has a 90-day deadline to grant or deny a bank merger application, irrespective of record completeness.
- The Board cannot consider information from third parties when evaluating applications.
- The bill amends the Bank Holding Company Act to clarify the definition of a ‘complete record’.
- The bill amends the Home Owners’ Loan Act to implement similar requirements for savings and loan holding company applications.
- Applicants can request an extension of the 30-day notice period for unusually complex applications.
- If the Board fails to act within the specified timeframe, the application is deemed approved.
- The Board must provide applicants with a detailed notice of any deficiencies in their responses.
Who is affected
- Bank holding companies
Bill text
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Sponsors
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4 on record
Primary sponsor
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