Congress 116 - HR 5318 - Bank Merger Review Modernization Act of 2019

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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 credit Consumer Financial Protection Bureau Corporate finance and management Economic performance and conditions Finance and Financial Sector 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

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Summary

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.

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