Bank Competition Modernization Act
Congress Would Ease Competition Review for Bank Mergers Creating Institutions Under $10B
Stalled
No legislative action in over 90 days.
Legislative Progress
Key Points
- This bill tells bank regulators not to weigh monopoly and competition concerns for mergers that would create a bank or holding company under $10 billion in assets.
- It applies to deals involving banks, bank holding companies, and savings-and-loan holding companies when they merge, buy another firm, or take on another firm’s assets or debts.
- The $10 billion cutoff would rise over time, adjusted each year based on growth in the U.S. economy, using government GDP data.
- Supporters may say this could make it easier for smaller and mid-size banks to combine and compete with bigger banks; critics may worry it could still reduce local choices.
- For everyday customers, the main possible effect is fewer or larger local banks after more mergers—changing where you can bank, fees, and customer service, depending on your area.
Impact Analysis
Personal Impact
How this policy affects specific groups of people
Milestones
Placed on the Union Calendar, Calendar No. 317.
The bill is now on the schedule for the full chamber to consider. It's in line for debate and a vote.
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-365.
Ordered to be Reported (Amended) by the Yeas and Nays: 28 - 24.
The committee approved this bill and is sending it to the full chamber for a vote. This is a significant step — most bills never get this far.
Committee Consideration and Mark-up Session Held
Referred to the House Committee on Financial Services.
Votes
No votes have been recorded for this legislation yet.
Related News
3 articles
The Bank Competition Modernization Act: Some Good, Some Not So Good
Explains H.R. 5262’s under-$10B asset threshold change for bank-merger competition review, including implications for DOJ competitive factors reports and antitrust challenge risk.
House committee advances four ABA-backed bills
Recaps House Financial Services Committee action including the Bank Competition Modernization Act and summarizes its approach to treating sub-$10B merger outcomes as presumptively non-anticompetitive.
U.S. Rep. Fitzgerald: Bank Competition Modernization Act passes Financial Services Committee
Reports committee passage of the Bank Competition Modernization Act and highlights supporters’ argument that optional DOJ competitive analysis could reduce delays for smaller-bank mergers.
Source Information
Document Type
Congressional Bill
Official Title
Bank Competition Modernization Act
Data Sources
Sponsor
Analysis generated by AI. Always verify with official sources.