The U.S. Financial Services Committee welcomed the House of Representatives’ passage of S.J. Res. 13, a Congressional Review Act (CRA) joint resolution to disapprove the Office of the Comptroller of the Currency (OCC) rule governing how applications are reviewed under the Bank Merger Act. The committee framed the resolution as undoing a Biden-era OCC rulemaking that it says made it significantly harder for small banks to grow and compete. Committee leaders argued that community and small banks often rely on mergers to remain viable given rising regulatory and technology costs, including customer demand for mobile and online banking capabilities that require substantial capital investment. In their statements, they characterised the OCC rule as imposing burdensome standards that would stifle innovation and competition, limit consumer choice, and deter beneficial bank mergers. The committee said the CRA resolution would reverse the OCC rule once signed into law by President Trump.
U.S. Financial Services Committee 2025-05-20
U.S. Financial Services Committee applauds House passage of CRA resolution to overturn the OCC bank merger review rule
The U.S. Financial Services Committee endorsed the House's approval of S.J. Res. 13, a Congressional Review Act resolution to overturn an OCC rule on Bank Merger Act application reviews. The committee criticized the rule for hindering small banks' growth and competition by imposing burdensome standards. The resolution aims to reverse these standards, promoting innovation and consumer choice.