Congress kills bank merger rule—but won't say what it actually did
S.J.Res. 13 — 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. · Filed by John Kennedy (R-LA) · 5 cosponsors · Introduced Feb 4, 2025 · Signed
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What it does
Congress is using a fast-track procedure to kill a Treasury Department rule that changed how bank mergers are reviewed. The rule, issued in September 2024, altered the process the Office of the Comptroller of the Currency uses to evaluate merger applications under the Bank Merger Act. By passing this resolution, Congress voids that rule entirely, restoring the prior merger-review standard.
Why we flagged it
This is a Congressional Review Act (CRA) disapproval resolution that kills a specific OCC rule governing bank merger applications. It is a regulatory rollback mechanism, not a substantive policy bill, and its effect on citizens depends entirely on what the voided rule contained.
What the text implies
- The resolution does not explain what the September 2024 OCC rule actually changed about merger review. Citizens cannot assess whether this rollback helps or harms them without access to the rule's text and the prior standard it replaced.
- CRA disapprovals are permanent: the OCC cannot reissue the same rule without new congressional authorization. This locks in the pre-September 2024 standard indefinitely unless Congress acts again.
The full analysis lists 3 implications of this text.
Who stands to gain
large commercial banks; banking sector consolidation interests