HR 5419 United States House · 117th Congress

Bank Merger Review Modernization Act of 2021

Summary
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.
Bill status in committee 1 of 4 stages cleared
Introduction
Sep 2021
Committee Review
Floor Vote
President
Introduced Sep 29, 2021 Last action Sep 29, 2021
Floor votes

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Full legislative history

Actions timeline

Total actions
2
Key actions
0
Committee
1
Sep 29, 2021
Committee
Referred to the House Committee on Financial Services.
lower
Sep 29, 2021
Introduced
Introduced in House
lower
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Jesús G. "Chuy" García
Jesús G. "Chuy" García
DDemocratic
IL
4