Merger Agreement Approvals Clarity and Predictability Act

This bill would require the Government Accountability Office (GAO), led by the Comptroller General, to study how federal banking regulators use commitments, conditions, and other review procedures when deciding on applications for bank and credit union mergers and acquisitions. The regulators covered are the Federal Reserve Board, the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the National Credit Union Administration Board. The study would review whether the use of commitments and conditions has matched what the law requires or has been influenced by issues outside the law. It would also look at the effects of merger reviews and approved mergers on safety and soundness, financial stability, competition, and the availability of financial products and services. GAO would have to report its findings to Congress within one year after the bill becomes law.

Full text and official record on Congress.gov

Sponsors

• Scott Fitzgerald Republican sponsor
• 1 cosponsors