Skip to main content
HR 7403 118th Congress House Finance and Financial Sector Banking and financial institutions regulation Business records Corporate finance and management

Bank Failure Prevention Act of 2024

Introduced: February 16, 2024 Introduced by: Barr, Andy Republican · Kentucky See on congress.gov
Sign in to write a letter Sign in to watch
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 16, 2024
Referred to the House Committee on Financial Services.
Feb 16, 2024
Introduced in House
 Plain-English summary Congressional Research Service

Bank Failure Prevention Act of 2024

This bill revises the Federal Reserve Board’s review process of merger and acquisition applications for bank holding companies.

Specifically, the board must notify the applicant within a certain time period regarding whether the application is complete or if additional information is required. The board must grant or deny such an application no later than 90 days after submission, regardless of whether the application was deemed complete. (Currently, the board must grant or deny an application no later than 90 days after receipt of a complete application.)

In addition, the board is prohibited from basing such application determinations on information provided by third parties.

What's happening now February 16, 2024

Referred to the House Committee on Financial Services.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Republican 2