A bill to prohibit the enforcement of certain interstate compacts, which may be discriminatory in nature, and to which Congress has not granted its consent.

Prohibits the implementation or consummation of any interstate compact by a State or Federal entity unless the Congress has given prior approval to the State statute which authorizes such compact.

States that the Congress shall review each statute to determine that it is not discriminatory or violative of the commerce clause (of the Constitution) and that the statute is consistent with the procompetitive requirements of the Federal antitrust laws.

Declares that legislation which authorizes acquisitions or mergers on a reciprocal basis without the imposition of restriction or conditions against out-of-State bank holding companies by reference to their State of origin or size shall not be deemed an interstate compact for purposes of this Act.