Bank Failure Prevention Act

The Bank Failure Prevention Act requires state banks with average total assets of $100 billion or more to automatically convert to national banks. This applies to large state banks that meet the asset threshold, with conversion mandated 180 days after becoming subject to the law. Banks must notify regulators within 60 days of meeting the threshold, including their planned conversion date and new name (which must include "national"). The Comptroller of the Currency will issue a certificate of organization and may temporarily allow non-conforming assets or adjust deadlines to ensure a stable transition.