Bill

SJRES 13

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.

119th Congress Introduced by Steve Daines and 5 co-sponsors

SJRES 13 disapproves a rule by the OCC on bank merger reviews, easing regulations for financial institutions and reducing scrutiny on merger applications.

Signed by President.

WeVote Research Nonpartisan

Bill Summary · SJRES 13

Summary of SJRES 13

Overview

Bill Number: SJRES 13
Title: 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.
Status: Signed by President on June 20, 2025
Introduced: February 4, 2025
Classification: Resolution

Purpose and Intent

SJRES 13 aims to formally disapprove a specific rule issued by the Office of the Comptroller of the Currency (OCC) concerning the review process for applications under the Bank Merger Act. The resolution asserts that the rule, published in the Federal Register on September 25, 2024, shall have no force or effect.

Key Provisions

Disapproval of OCC Rule: The resolution explicitly disapproves the OCC's rule regarding "Business Combinations Under the Bank Merger Act," which was intended to guide the review of bank merger applications.
No Force or Effect: The resolution ensures that the disapproved rule will not be implemented or enforced.

Impact

Financial Institutions: The disapproval of the OCC rule may significantly affect banks and financial institutions that were preparing to comply with the new regulations regarding mergers and acquisitions.
Regulatory Environment: This resolution could lead to a more lenient regulatory environment for bank mergers, as the previous rule would have imposed additional scrutiny on such applications.
Congressional Oversight: The passage of this resolution reflects Congress's authority to oversee and disapprove regulatory actions taken by federal agencies.

Legislative Timeline

February 4, 2025: Introduced in the Senate and referred to the Committee on Banking, Housing, and Urban Affairs.
May 6, 2025: The Senate agreed to consider the measure, and it was placed on the legislative calendar.
May 7, 2025: Passed the Senate by a vote of 52-47.
May 20, 2025: Passed the House by a vote of 220-207.
June 10, 2025: Presented to the President.
June 20, 2025: Signed into law, becoming Public Law No: 119-19.

Related Legislation

HRES 426: Companion resolution related to the consideration of SJRES 13.
HJRES 92: Another companion resolution addressing similar issues.

This summary provides a clear understanding of SJRES 13, its implications for bank merger regulations, and the legislative process leading to its enactment.

Compiled from official sources — confirm details with the bill’s official record.