Us Congress 2025-2026 Regular Session

Us Congress House Bill HB1900 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	I
2	2	119THCONGRESS
3	3	1
4	4	STSESSION H. R. 1900
5	5	To specify when the record is complete on certain acquisition applications
6	6	related to depository institution holding companies, and for other purposes.
7	7	IN THE HOUSE OF REPRESENTATIVES
8	8	MARCH6, 2025
9	9	Mr. B
10	10	ARR(for himself and Mr. FITZGERALD) introduced the following bill;
11	11	which was referred to the Committee on Financial Services
12	12	A BILL
13	13	To specify when the record is complete on certain acquisition
14	14	applications related to depository institution holding com-
15	15	panies, and for other purposes.
16	16	Be it enacted by the Senate and House of Representa-1
17	17	tives of the United States of America in Congress assembled, 2
18	18	SECTION 1. SHORT TITLE. 3
19	19	This Act may be cited as the ‘‘Bank Failure Preven-4
20	20	tion Act of 2025’’. 5
21	21	SEC. 2. COMPLETE RECORD ON AN APPLICATION. 6
22	22	(a) B
23	23	ANKHOLDINGCOMPANIES.—Section 3(b)(1) of 7
24	24	the Bank Holding Company Act of 1956 (12 U.S.C. 8
25	25	1842(b)(1)) is amended— 9
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28	28	•HR 1900 IH
29	29	(1) by striking ‘‘Upon receiving’’ and inserting 1
30	30	the following: 2
31	31	‘‘(A) I
32	32	N GENERAL.—Upon receiving’’; 3
33	33	(2) by striking ‘‘required’’ and inserting ‘‘ac-4
34	34	quired’’; 5
35	35	(3) by striking ‘‘In the event of the failure of 6
36	36	the Board to act on any application for approval 7
37	37	under this section within the ninety-one-day period 8
38	38	which begins on the date of submission to the Board 9
39	39	of the complete record on that application, the appli-10
40	40	cation shall be deemed to have been granted.’’; and 11
41	41	(4) by adding at the end the following: 12
42	42	‘‘(B) C
43	43	OMPLETE RECORD ON AN APPLICA -13
44	44	TION.— 14
45	45	‘‘(i) N
46	46	OTICE TO APPLICANT .—Not later 15
47	47	than 30 days after the date on which the Board 16
48	48	receives an application for approval under this 17
49	49	section, the Board shall transmit to the appli-18
50	50	cant a letter that either— 19
51	51	‘‘(I) confirms the record on the appli-20
52	52	cation is complete; or 21
53	53	‘‘(II) details all additional information 22
54	54	that is required for the record on that ap-23
55	55	plication to be complete. 24
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59	59	‘‘(ii) EXTENSION OF NOTICE .—Notwith-1
60	60	standing clause (i), the Board may, if an appli-2
61	61	cation is unusually complex, extend the 30-day 3
62	62	period described under clause (i) for an addi-4
63	63	tional 30 days. 5
64	64	‘‘(iii) R
65	65	ECEIPT OF RESPONSE; DEEMING OF 6
66	66	COMPLETE RECORD .—Upon receipt of a re-7
67	67	sponse from an applicant to a notice requesting 8
68	68	additional information described under clause 9
69	69	(i)(II), the record on the application shall be 10
70	70	deemed complete unless the Board— 11
71	71	‘‘(I) determines that the applicant’s 12
72	72	response was materially deficient; and 13
73	73	‘‘(II) not later than 30 days after the 14
74	74	date on which the Board received the re-15
75	75	sponse, provides the applicant a detailed 16
76	76	notice describing the deficiencies. 17
77	77	‘‘(iv) T
78	78	REATMENT OF THIRD -PARTY INFOR-18
79	79	MATION.—In determining whether the record on 19
80	80	an application is complete, the Board may take 20
81	81	into account only information provided by the 21
82	82	applicant, and may not base the determination 22
83	83	of the Board on any information (including re-23
84	84	ports, views, or recommendations) provided by 24
85	85	third parties. 25
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88	88	•HR 1900 IH
89	89	‘‘(C) DEADLINE FOR DETERMINATION .— 1
90	90	‘‘(i) I
91	91	N GENERAL.—Notwithstanding sub-2
92	92	paragraphs (A) and (B), the Board shall grant 3
93	93	or deny an application submitted under this 4
94	94	section not later than 90 days after the date on 5
95	95	which the application was initially submitted to 6
96	96	the Board, regardless of whether the record on 7
97	97	such initial application was complete. 8
98	98	‘‘(ii) F
99	99	AILURE TO MAKE A DETERMINA -9
100	100	TION.—If the Board does not grant or deny an 10
101	101	application within the time period described 11
102	102	under clause (i), such application shall be 12
103	103	deemed to have been granted.’’. 13
104	104	(b) S
105	105	AVINGS ANDLOANHOLDINGCOMPANIES.—Sec-14
106	106	tion 10(e) of the Home Owners’ Loan Act (12 U.S.C. 15
107	107	1467a(e)) is amended— 16
108	108	(1) in paragraph (2), by striking ‘‘, and shall 17
109	109	render a decision within 90 days after submission to 18
110	110	the Board of the complete record on the applica-19
111	111	tion’’; 20
112	112	(2) by redesignating paragraph (7) as para-21
113	113	graph (9); and 22
114	114	(3) by inserting after paragraph (6) the fol-23
115	115	lowing: 24
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119	119	‘‘(7) COMPLETE RECORD ON AN APPLICA -1
120	120	TION.— 2
121	121	‘‘(A) N
122	122	OTICE TO APPLICANT .—Not later 3
123	123	than 30 days after the date on which the Board 4
124	124	receives an application for approval under this 5
125	125	subsection, the Board shall transmit to the ap-6
126	126	plicant a letter that either— 7
127	127	‘‘(i) confirms the record on the appli-8
128	128	cation is complete; or 9
129	129	‘‘(ii) details all additional information 10
130	130	that is required for the record on that ap-11
131	131	plication to be complete. 12
132	132	‘‘(B) E
133	133	XTENSION OF NOTICE .—Notwith-13
134	134	standing subparagraph (A), the Board may, if 14
135	135	an application is unusually complex, extend the 15
136	136	30-day period described under subparagraph 16
137	137	(A) for an additional 30 days. 17
138	138	‘‘(C) R
139	139	ECEIPT OF RESPONSE; DEEMING OF 18
140	140	COMPLETE RECORD .—Upon receipt of a re-19
141	141	sponse from an applicant to a notice requesting 20
142	142	additional information described under subpara-21
143	143	graph (A)(ii), the record on the application 22
144	144	shall be deemed complete unless the Board— 23
145	145	‘‘(i) determines that the applicant’s 24
146	146	response was materially deficient; and 25
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149	149	•HR 1900 IH
150	150	‘‘(ii) not later than 30 days after the 1
151	151	date on which the Board received the re-2
152	152	sponse, provides the applicant a detailed 3
153	153	notice describing the deficiencies. 4
154	154	‘‘(D) T
155	155	REATMENT OF THIRD -PARTY IN-5
156	156	FORMATION.—In determining whether the 6
157	157	record on an application is complete, the Board 7
158	158	may take into account only information pro-8
159	159	vided by the applicant, and may not base the 9
160	160	determination of the Board on any information 10
161	161	(including reports, views, or recommendations) 11
162	162	provided by third parties. 12
163	163	‘‘(8) D
164	164	EADLINE FOR DETERMINATION .— 13
165	165	‘‘(A) I
166	166	N GENERAL.—Notwithstanding any 14
167	167	other provision of this subsection, the Board 15
168	168	shall grant or deny an application submitted 16
169	169	under this subsection not later than 90 days 17
170	170	after the date on which the application was ini-18
171	171	tially submitted to the Board, regardless of 19
172	172	whether the record on such initial application 20
173	173	was complete. 21
174	174	‘‘(B) F
175	175	AILURE TO MAKE A DETERMINA -22
176	176	TION.—If the Board does not grant or deny an 23
177	177	application within the time period described 24
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180	180	•HR 1900 IH
181	181	under subparagraph (A), such application shall 1
182	182	be deemed to have been granted.’’. 2
183	183	Æ
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