3.0.0 2882 2022-12-30T07:03:59Z 2022-12-30T07:03:59Z Senate S 2021-09-29 117 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2021-09-29T15:05:56Z Bank Merger Review Modernization Act of 2021 117 5419 HR 2021-09-29 Referred to the House Committee on Financial Services. Identical bill CRS 2021-09-29 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2021-09-29 Introduced in Senate IntroReferral 10000 9 Library of Congress W000817 Sen. Warren, Elizabeth [D-MA] Elizabeth Warren D MA A. N Finance and Financial Sector Finance and Financial Sector 00 2021-09-29 Introduced in Senate 2022-02-15T14:57:42Z Bank Merger Review Modernization Act of 2021

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.

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

Additionally, applicants for a bank merger must disclose specified communications regarding the proposed merger.

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

]]> Bank Merger Review Modernization Act of 2021 Display Title Bank Merger Review Modernization Act of 2021 Official Title as Introduced A bill to amend certain banking laws to establish requirements for bank mergers, and for other purposes. Introduced in Senate IS Short Title(s) as Introduced Bank Merger Review Modernization Act of 2021 Introduced in Senate IS Introduced in Senate 2021-09-29T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-117s2882is/xml/BILLS-117s2882is.xml 2021-09-29 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. 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.