Least Cost Exception Act

HR 6547, the Least Cost Exception Act, modifies the Federal Deposit Insurance Act to allow the FDIC (as the "Corporation") to select non-least-cost resolution methods for failing banks if certain conditions are met. It directly affects the FDIC, the Deposit Insurance Fund, and major global banking institutions by permitting exceptions to standard cost-minimization rules. Key provisions require the FDIC to determine that an alternative method limits further concentration among large banks, comply with specific cost and risk thresholds, and pay the Fund for cost differences over at least five years. The bill mandates annual reporting to Congress on such decisions and defines "covered alternatives" as the least-cost method involving sales to global systemically important banks.