Bank Merger Review Modernization Act of 2019
Latest action · Jan 16, 2020 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedJan 16, 2020
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
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.
Cosponsors
Members who signed on, in the order they did.
Actions 2
Everything that happened, newest first.
- Jan 16, 2020Introduced in Senate
- Jan 16, 2020Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 5318 | Bank Merger Review Modernization Act of 2019 | Related bill | Dec 5, 2019 |
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
- 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
Text 1
Each version as it was printed, newest first.
- Jan 16, 2020Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.