BGOV Bill Analysis: S. J. Res. 13, Repeal Bank Merger Rule

A Biden administration rule requiring a more thorough review process to approve bank mergers would be repealed using the Congressional Review Act under S. J. Res. 13.

The Office of the Comptroller of the Currency rule, finalized Sept. 25 and effective Jan. 1, removed a streamlined application process for some bank mergers and ended automatic approval of some mergers if the agency didn’t act by the 15th day after the close of the public comment period. The OCC also issued a policy statement overhauling the criteria for approving mergers, including by more closely examining mergers that result in ...