A joint resolution 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.

Senate Joint Resolution

S.J.Res. 13

119th Congress

A joint resolution 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.

Became Public Law No: 119-19.

Introduced:Feb 6, 2025

Primary Sponsor

Cindy Hyde-Smith

Senator

Republican

MS

Cosponsors

5

Quick Stats

Policy Area

Finance and Financial Sector

Summary

This joint resolution nullifies the OCC rule revising bank merger application review procedures published September 2024. The rule removed automatic approvals under expedited review and discontinued streamlined application forms, making merger approval more rigorous. Passage would restore easier merger approval processes for banks.

Latest Action

Became Public Law No: 119-19.

AI Summary

Plain-English explanation of this bill

This joint resolution nullifies the OCC rule revising bank merger application review procedures published September 2024. The rule removed automatic approvals under expedited review and discontinued streamlined application forms, making merger approval more rigorous. Passage would restore easier merger approval processes for banks.

Last updated: 12/30/2025

Official Summary

Congressional Research Service summary

<p>This joint resolution nullifies the final rule issued by the Department of the Treasury’s Office of the Comptroller of the Currency titled <em>Business Combinations Under the Bank Merger Act</em> and published on September 25, 2024. The rule revises procedures for reviewing applications for proposed bank mergers, such as by removing automatic approvals under an expedited review procedure and by discontinuing streamlined application forms.</p>

Key Points

Main provisions of the bill

Nullifies OCC bank merger review rule from September 2024
Would restore expedited merger approval procedures
Brings back streamlined application forms
Uses Congressional Review Act to overturn regulation
Makes bank mergers easier to approve
Reverses stricter OCC review standards

How This Impacts Americans

Potential effects on citizens and communities

This resolution would undo stricter bank merger review procedures implemented by the OCC. The 2024 rule responded to concerns about banking consolidation and too-big-to-fail risks by requiring more thorough review of proposed mergers. Nullifying it would make bank mergers easier, potentially accelerating industry consolidation. Supporters argue the rule added unnecessary burden; critics contend stricter review protects consumers and financial stability.

Policy Areas

Primary Policy Area

Finance and Financial Sector

Related Subjects

Administrative law and regulatory procedures

Banking and financial institutions regulation

Congressional oversight

Corporate finance and management

Department of the Treasury

Scope & Jurisdiction

Jurisdiction Level

federal

Congressional Session

119th Congress

Citation Reference

13, 119th Congress (2025). "A joint resolution 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.". Source: Voter's Right Platform. https://votersright.org/bills/118-sjres-13