Congress disapproves of a new rule regarding bank merger applications
/ 1 min read
Table of Contents
This joint resolution officially rejects a specific rule submitted by the Office of the Comptroller of the Currency (OCC). The rule in question dealt with how the agency reviews applications for bank mergers under the Bank Merger Act.
Why it matters: This is a procedural action that stops a specific change to how bank merger applications are reviewed. It effectively maintains the previous standard or prevents the new one from taking effect.
Who it affects
- The Office of the Comptroller of the Currency (OCC)
This action was taken by Congress regarding a rule from the Office of the Comptroller of the Currency; readers should consult the official text at Congress.gov before relying on this information.
Agency: Senate
Source: Congress.gov — read the official document