Skip to Content

Do you allow analytics?

We use analytics tools to understand how people use the site. They're optional: if you decline, the site works the same, no analytics cookies are set and Google gets only a cookieless, anonymous count signal. Your votes are saved either way; the details are in the privacy policy.

Referandom is here: Tinder for Congress 🔥

Support Referandom
EconomyH.R. 6556Comments

Failing Bank Acquisition Fairness Act

Official title: To prohibit the use of certain concentration limit exceptions with respect to mergers involving a failed bank unless the applicable agency determines such use is necessary to prevent significant economic disruption or significant adverse effects on financial stability, and for other purposes.

What Do You Think?

How would you vote?

Referandom Vote

Vote to see the result.

Where the Bill Stands

  1. Introduced, done
  2. Committee, done
  3. Floor Vote, done
  4. Outcome, current stage

What This Bill Does

This bill tightens restrictions on certain waivers granted by federal financial regulators to companies that acquire insured depository institutions. Under current law, a regulator may not approve an acquisition if it would result in an institution exceeding a set concentration limit (i.e., controlling more than 10% of total insured U.S. deposits). This may be waived if one or more of the institutions involved is in default or in danger of default or if the Federal Deposit Insurance Corporation (FDIC) is providing certain assistance.

In addition to these requirements, the bill requires the regulator to determine that (1) the merger is necessary to prevent significant economic disruption or financial instability, and (2) FDIC has not received a qualified bid from a company not subject to this concentration limit.

The bill also provides capitalization and management standards for qualified bids.

Regulators that waive these concentration limits must report to Congress on the circumstances and justification of the waiver.

Sponsors

Related Documents

Bill on Congress.govWeb Page ↗ (opens in a new tab)

Timeline

  1. SenateReceived in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  2. House floor actionsMr. Hill (AR) moved to suspend the rules and pass the bill, as amended.
  3. Library of CongressPassed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.
  4. Floor Vote
  5. Passed the House
  6. House floor actionsReported (Amended) by the Committee on Financial Services. H. Rept. 119-475.
  7. House committee actionsCommittee Consideration and Mark-up Session Held
  8. House committee actionsCommittee Consideration and Mark-up Session Held
  9. Library of CongressIntroduced in House
  10. House floor actionsReferred to the House Committee on Financial Services.
  11. Introduced
  12. Committee

Comments

Comments with insults, hate speech or personal information are removed.