Summary of HJRES 92

Bill Overview

Bill Number: HJRES 92

Title: 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: Introduced in House

Introduced Date: April 10, 2025

Classification: Resolution

Purpose and Intent

HJRES 92 aims to formally disapprove a rule established by the Office of the Comptroller of the Currency (OCC) concerning the review process for bank merger applications under the Bank Merger Act. The resolution seeks to negate the rule published in the Federal Register on September 25, 2024, which the sponsors believe may have implications for the regulatory landscape surrounding bank mergers.

Key Provisions

• Disapproval of Rule: The resolution states that Congress disapproves the OCC's rule regarding the review of bank merger applications, asserting that this rule shall have no force or effect.
• Legal Basis: The resolution is introduced under chapter 8 of title 5 of the United States Code, which provides Congress the authority to disapprove certain agency rules.

Affected Parties

• Financial Institutions: The resolution primarily impacts banks and financial institutions that are involved in merger activities, as it seeks to overturn regulatory guidelines that govern how these mergers are assessed.
• Regulatory Bodies: The OCC, as the agency responsible for enforcing the rule, will be directly affected by this congressional action.
• Consumers and Stakeholders: The resolution may indirectly affect consumers, shareholders, and other stakeholders in the banking sector, depending on how bank mergers are regulated in the absence of the disapproved rule.

Legislative Actions

• April 10, 2025: HJRES 92 was introduced in the House and referred to the House Committee on Financial Services for further consideration.

Sponsors

• Primary Sponsor: Andy Barr
  
• Cosponsors: Tim Moore, Scott Fitzgerald
  

Related Legislation

• SJRES 13: This is a companion resolution in the Senate that addresses similar issues regarding the OCC's rule on bank merger applications.

Conclusion

HJRES 92 represents a significant legislative effort to challenge and potentially reshape the regulatory framework governing bank mergers. By disapproving the OCC's rule, Congress aims to influence how future bank merger applications are evaluated, which could have broader implications for the banking industry and its regulatory environment.