Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Office of the Comptroller of the Currency of the Department of the Treasury relating to the review of applications under the Bank Merger Act.

Key Points

• This resolution aims to cancel a new rule from the Office of the Comptroller of the Currency. That rule changed the process for how the government decides if two banks are allowed to merge into one larger company.
• If this resolution passes, the new merger rules would be completely wiped out. The government would have to go back to using the old rules for checking if bank mergers are fair to customers and the economy.
• Supporters of this move argue that the new rules make it too hard for banks to grow or combine. They believe the current process is too slow and creates too much red tape for the banking industry.
• Critics of the resolution worry that getting rid of the new rules would make it easier for big banks to get even bigger. They argue the new rules are needed to protect small towns from losing their local bank branches.

Impact Analysis

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