3.0.0 5318 2022-10-28T01:46:04Z 2022-10-28T01:46:04Z House HR 2019-12-05 116 [Congressional Record Volume 165, Number 194 (Thursday, December 5, 2019)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. GARCIA of Illinois:H.R. 5318.Congress has the power to enact this legislation pursuantto the following:Article I, Section VIII, Clause III[Page H9295]]]> hsba00 Financial Services Committee House Standing Referred to 2019-12-05T15:01:40Z Bank Merger Review Modernization Act of 2019 116 3213 S 2020-01-16 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Related bill CRS 2019-12-05 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2019-12-05 Sponsor introductory remarks on measure. (CR E1545) IntroReferral B00100 9 Library of Congress 2019-12-05 Introduced in House IntroReferral Intro-H 9 Library of Congress 2019-12-05 Introduced in House IntroReferral 1000 9 Library of Congress G000586 Rep. Garcia, Jesus G. "Chuy" [D-IL-4] Jesus Garcia D IL G. 4 N S001145 Rep. Schakowsky, Janice D. [D-IL-9] JANICE SCHAKOWSKY D IL D. 9 2019-12-05 True T000481 Rep. Tlaib, Rashida [D-MI-13] Rashida Tlaib D MI 13 2019-12-05 True N000147 Del. Norton, Eleanor Holmes [D-DC-At Large] ELEANOR NORTON D DC HOLMES 0 2019-12-05 True Finance and Financial Sector Accounting and auditing Bank accounts, deposits, capital Banking and financial institutions regulation Business records Civil actions and liability Community life and organization Competition and antitrust Consumer Financial Protection Bureau Consumer credit Corporate finance and management Economic performance and conditions Financial crises and stabilization Financial services and investments Government ethics and transparency, public corruption Government information and archives Government studies and investigations Legal fees and court costs Performance measurement Public participation and lobbying Unemployment Finance and Financial Sector 00 2019-12-05 Introduced in House 2021-03-17T20:05:38Z Bank Merger Review Modernization Act of 2019

This bill establishes additional requirements for bank mergers and acquisitions, including by requiring

  • approval from the Consumer Financial Protection Bureau for certain mergers involving a provider of consumer financial products,
  • financial regulators to determine that the public benefits of any merger outweigh the costs,
  • specified community reinvestment ratings, and
  • institutions to meet certain financial stability standards and stress testing.

Financial regulators must assess the competitive effects a merger will have on the market for certain financial products.

Applicants for a bank merger must disclose specified communications regarding the proposed merger.

The bill provides citizens with standing to file a civil action to review a merger approval.

]]> Bank Merger Review Modernization Act of 2019 Display Title Bank Merger Review Modernization Act of 2019 Official Title as Introduced To amend certain banking laws to establish requirements for bank mergers, and for other purposes. Introduced in House IH Short Title(s) as Introduced Bank Merger Review Modernization Act of 2019 Introduced in House IH Introduced in House 2019-12-05T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr5318ih/xml/BILLS-116hr5318ih.xml 2019-12-05 Referred to the House Committee on Financial Services. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.