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116-hr-5318116th Congress

Bank Merger Review Modernization Act of 2019

Sponsored By: Representative García, Jesús G. "Chuy" [D-IL-4]

Unknown

Summary

Bank Merger Review Modernization Act of 2019 This bill establishes additional requirements for bank mergers and acquisitions, including by requiring approval from the Consumer Financial Protection Bureau for certain mergers involving a provider of consumer financial products, financial regulators to determine that the public benefits of any merger outweigh the costs, specified community reinvestment ratings, and institutions to meet certain financial stability standards and stress testing. Financial regulators must assess the competitive effects a merger will have on the market for certain financial products. Applicants for a bank merger must disclose specified communications regarding the proposed merger. The bill provides citizens with standing to file a civil action to review a merger approval.

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & CoSponsors

Sponsor

García, Jesús G. "Chuy" [D-IL-4]

IL • D

Cosponsors

  • Rep. Schakowsky, Janice D. [D-IL-9]

    IL • D

    Sponsored 12/5/2019

  • Rep. Tlaib, Rashida [D-MI-12]

    MI • D

    Sponsored 12/5/2019

  • Del. Norton, Eleanor Holmes [D-DC-At Large]

    DC • D

    Sponsored 12/5/2019

Roll Call Votes

No roll call votes available for this bill.

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