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H.R. 7403 118th Congress House

Bank Failure Prevention Act of 2024

Official title: To specify when the record is complete on certain acquisition applications related to depository institution holding companies, and for other purposes.

Introduced: February 16, 2024 Introduced by: Andy Barr Republican · Kentucky See on congress.gov
Finance and Financial Sector Banking and financial institutions regulationBusiness recordsCorporate finance and management
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This bill died when the 118th Congress ended
It never became law before the 118th Congress (2023–2024) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 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
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 Latest action February 16, 2024

Referred to the House Committee on Financial Services.

 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.

 Related & companion bills 1
  • HR 8337 Bank Resilience and Regulatory Improvement Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Lobbying activity 1

Registered lobbyists who named this bill in their disclosure filings. Source: federal Lobbying Disclosure Act filings.

Bodies those filers lobbied

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 Cosponsors 2
All 2 Republican 2
R
Loudermilk, Barry
Georgia · May 8, 2024
 R
Fitzgerald, Scott
Wisconsin · Feb 16, 2024
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 7403: Bank Failure Prevention Act of 2024. 118th Congress. Open America. https://openamerica.io/bill/118-HR-7403/
MLA
"H.R. 7403: Bank Failure Prevention Act of 2024." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-HR-7403/.
Bluebook (legal)
H.R. 7403, 118th Cong. (2026), https://openamerica.io/bill/118-HR-7403/.
Markdown link
[H.R. 7403: Bank Failure Prevention Act of 2024](https://openamerica.io/bill/118-HR-7403/)
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