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Bank Merger Review Modernization Act of 2019
10/28/2022, 1:46 AM
Congressional Summary of HR 5318
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.
Read the Full Bill
Current Status of Bill HR 5318
Bill HR 5318 is currently in the status of Bill Introduced since December 5, 2019. Bill HR 5318 was introduced during Congress 116 and was introduced to the House on December 5, 2019. Bill HR 5318's most recent activity was Referred to the House Committee on Financial Services. as of December 5, 2019
Bipartisan Support of Bill HR 5318
Total Number of Sponsors
1Democrat Sponsors
1Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
3Democrat Cosponsors
3Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 5318
Primary Policy Focus
Finance and Financial SectorPotential Impact Areas
- 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
Alternate Title(s) of Bill HR 5318
Bank Merger Review Modernization Act of 2019
To amend certain banking laws to establish requirements for bank mergers, and for other purposes.
Bank Merger Review Modernization Act of 2019
Comments
Sponsors and Cosponsors of HR 5318
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