To require the Inspector General of each Federal prudential regulator to carry out a review every 3 years of the regulator's handling of insured depository institution merger applications, and for other purposes.
Merger Process Review Act
This bill requires the appropriate Office of the Inspector General (OIG) that serves the Federal Reserve Board, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the National Credit Union Administration to periodically review the merger applications received by that regulator.
Specifically, every three years, the appropriate OIG must examine that regulator’s merger approval procedures, including timeliness and efficiency, and report on its findings and recommendations. The regulator must then submit a plan to implement the appropriate recommendations.
Ordered to be Reported by the Yeas and Nays: 26 - 16.
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
Committee Consideration and Mark-up Session Held
Committee Consideration and Mark-up Session Held
Ordered to be Reported (Amended) by the Yeas and Nays: 52 - 0.
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-528.
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-528.
Placed on the Union Calendar, Calendar No. 453.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line