H.R. 6556
Tightens rules for waivers when banks buy failed banks
Before letting a bank that buys a failed bank grow past 10% of insured U.S. deposits, regulators would have to meet new tests and report to Congress.
- A waiver would require proof the merger is needed to prevent major economic disruption or instability
- A waiver would also require that no qualified bid came from a company already under the 10% deposit limit
- Sets capital and management standards for qualified bids
- Regulators must report to Congress on any waiver and why they granted it
Passed the House · Senate's turn