# Plain Language Summary: Congressional Disapproval of Bank Merger Review Rule

Congress is voting to reject a new rule created by the Office of the Comptroller of the Currency (a federal banking agency) that changes how the government reviews bank mergers. This is a procedural move called a "congressional disapproval," which is Congress's way of saying "we don't want this rule to exist" and essentially canceling it.

The rule in question deals with how federal regulators examine and approve or deny requests from banks that want to merge with each other. When two banks want to combine into one, they need government permission, and this rule laid out new procedures for how that review process would work. By passing this resolution, Congress is blocking those new procedures and keeping the old rules in place instead. This means bank mergers will continue to be reviewed under the previous system rather than the new one the banking agency had proposed.

The practical impact depends on what specifically changed in the new rule. Generally speaking, if the new rule made it easier for banks to merge, blocking it means mergers might face more scrutiny or take longer to approve. If the new rule made the process stricter, blocking it means banks get the benefit of the older, potentially less restrictive process. For average people, this could eventually affect things like bank fees, branch closures, or the availability of banking services in their area, since bank consolidation can change the competitive landscape and how banks operate locally. However, the immediate effect is simply that Congress is preventing a regulatory change from taking effect.

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.

Kennedy, John

<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>