Merger Agreement Approvals Clarity and Predictability Act
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Overview
This bill directs the Government Accountability Office (GAO) to conduct a study of how federal banking regulators use commitments and conditions when reviewing mergers involving insured banks and credit unions. The study will assess whether these practices align with existing laws and regulations, and whether they are influenced by factors outside of legal requirements. The GAO will then report its findings to Congress.
Key provisions
- The GAO will study the use of commitments and conditions in bank mergers.
- The study will evaluate quantifiable metrics related to these commitments.
- The study will examine whether commitments and conditions comply with statutory requirements.
- The study will assess the influence of non-statutory factors on these practices.
- The GAO must submit a report to Congress within six months of the bill’s enactment.
Who is affected
- Federal Depository Institution Regulatory Agencies (Federal Reserve, Comptroller of the Currency, FDIC, NCUA)
- Insured Depository Institutions (Banks and Credit Unions)
- Merger Applicants
- Congress
- The General Public (through potential impacts on the banking system)
Notable changes
- The bill establishes a formal review process by the GAO to examine merger approval practices.
Bill text
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