S 3213
116th Congress
Senate
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 Financial Protection Bureau
Consumer credit
Corporate finance and management
Economic performance and conditions
Financial crises and stabilization
Financial services and investments
Government ethics and transparency, public corruption
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Public participation and lobbying
Bank Merger Review Modernization Act of 2019
Introduced: January 16, 2020
Introduced by:
Warren, Elizabeth
Democratic
· Massachusetts
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 16, 2020
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Jan 16, 2020
Introduced in Senate
Plain-English 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.
What's happening now
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Committees of jurisdiction
1