Merger Process Review Act

Summary#

This bill requires the Inspector General (IG) of each federal agency that supervises banks and credit unions to review how those agencies handle merger applications for insured depository institutions. The first review must happen within 1 year after the bill becomes law, then every 3 years. Each review must look at measurable data (including mean and median processing times), find sources of delay, and give specific recommendations to improve timeliness and efficiency while staying within the agency's legal duties. After each review, the IG must send a report to Congress. The agency reviewed must send a written response to Congress with a plan to implement the recommendations when appropriate. The agencies covered are the Federal Reserve Board, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the National Credit Union Administration.

What it means for you#

• If you work for or apply to merge a bank or credit union, your regulator will be periodically reviewed for how quickly and efficiently it processes merger applications.
• Congress will receive reports about those reviews, and agencies must reply with plans to address the recommendations when appropriate.
• The reviews focus on measurable processing times and on identifying delays that slow down merger approvals.

Expenses#

No publicly available information on estimated costs or funding in the bill text. The bill requires reviews and reports but does not include funding or budget details.

Proponents' View#

No publicly available information in the bill text about supporters' stated reasons or arguments.

Opponents' View#

No publicly available information in the bill text about opponents' stated concerns or arguments.