119th CONGRESS 1st Session |
To amend the Federal Deposit Insurance Act, the Bank Holding Company Act of 1956, and the Home Owners’ Loan Act to require the consideration of certain entities and factors when evaluating proposed acquisitions, mergers, consolidations, assumptions of liabilities, or transfers of assets, and for other purposes.
September 10, 2025
Mr. Fitzgerald introduced the following bill; which was referred to the Committee on Financial Services
To amend the Federal Deposit Insurance Act, the Bank Holding Company Act of 1956, and the Home Owners’ Loan Act to require the consideration of certain entities and factors when evaluating proposed acquisitions, mergers, consolidations, assumptions of liabilities, or transfers of assets, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
This Act may be cited as the “Bank Competition Modernization Act”.
SEC. 2. Competitive factor considerations.
(a) In general.—Section 18(c) of the Federal Deposit Insurance Act (12 U.S.C. 1828(c)) is amended—
(i) in clause (i), by striking “or” at the end’;
(ii) in clause (ii), by striking the period at the end and inserting “; or”; and
(iii) by adding at the end the following:
“(iii) if the proposed acquisition, merger, consolidation, assumption of liabilities, or transfer of assets under this section would result in an entity with less than $10,000,000,000 in assets.”; and
(B) by adding at the end the following:
“(D) CONSIDERATIONS.—When compiling a report on competitive factors relative to insured depository institutions under this paragraph at the request of the responsible agency, the Attorney General shall consider the banking products and services offered by the following types of entities, including loans and deposits:
“(i) Depository institutions, as such term is defined in section 3(c) of the Federal Deposit Insurance Act (12 U.S.C. 1813(c)).
“(ii) Depository institution holding companies, as such term is defined in section 3(w) of the Federal Deposit Insurance Act (12 U.S.C. 1813(w)).
“(iii) Industrial loan companies, industrial banks, or other similar institutions, as such term is defined in section 2(c) of the Bank Holding Company Act (12 U.S.C. 1841(c)).
“(iv) Entities chartered and operating under the Farm Credit Act of 1971.
“(v) Nonbank financial companies, as such term is defined in section 102 of the Financial Stability Act of 2010.
“(vi) Insured credit unions and noninsured credit unions, as such terms are defined in section 101 of the Federal Credit Union Act.”; and
(2) by adding at the end the following:
“(14) FOR PROPOSED TRANSACTIONS RESULTING IN ENTITIES WITH LESS THAN $10,000,000,000 IN ASSETS.—If a proposed acquisition, merger, consolidation, assumption of liabilities, or transfer of assets under this section would result in an entity with less than $10,000,000,000 in assets, then the responsible agency shall find that such acquisition, merger, consolidation, assumption of liabilities, or transfer of assets would not—
“(A) result in a monopoly, or be in furtherance of any combination or conspiracy to monopolize or to attempt to monopolize the business of banking in any part of the United States; and
“(B) have the effect in any section of the country of substantially to lessening competition, tending to create a monopoly, or in any other manner restraining trade.”.
(b) For bank holding companies.—Section 3(c) of the Bank Holding Company Act of 1956 (12 U.S.C. 1842(c)) is amended by adding at the end the following:
“(8) CONSIDERATIONS WITH RESPECT TO COMPETITIVE FACTORS.—When evaluating competitive factors relative to a proposed acquisition, merger, consolidation, assumption of liabilities, or transfer of assets, under paragraph (1), the Board shall consider the banking products and services offered by the following types of entities, including loans and deposits:
“(A) Depository institutions, as such term is defined in section 3(c) of the Federal Deposit Insurance Act (12 U.S.C. 1813(c)).
“(B) Depository institution holding companies, as such term is defined in section 3(w) of the Federal Deposit Insurance Act (12 U.S.C. 1813(w)).
“(C) Industrial loan companies, industrial banks, or other similar institutions, as such term is defined in section 2(c) of the Bank Holding Company Act (12 U.S.C. 1841(c)).
“(D) Entities chartered and operating under the Farm Credit Act of 1971.
“(E) Nonbank financial companies, as such term is defined in section 102 of the Financial Stability Act of 2010.
“(F) Insured credit unions and noninsured credit unions, as such terms are defined in section 101 of the Federal Credit Union Act.
“(9) FOR PROPOSED TRANSACTIONS RESULTING IN ENTITIES WITH LESS THAN $10,000,000,000 IN ASSETS.—If a proposed acquisition, merger, consolidation, assumption of liabilities, or transfer of assets under this section would result in an entity with less than $10,000,000,000 in assets, then the Board shall find that such acquisition, merger, consolidation, assumption of liabilities, or transfer of assets would not—
“(A) result in a monopoly, or be in furtherance of any combination or conspiracy to monopolize or to attempt to monopolize the business of banking in any part of the United States; and
“(B) have the effect in any section of the country of substantially to lessening competition, tending to create a monopoly, or in any other manner restraining trade.”.
(c) For savings associations.—Section 10(e)(2) of the Home Owners’ Loan Act is amended by adding at the end the following:
“(8) CONSIDERATIONS WITH RESPECT TO COMPETITIVE FACTORS.—When evaluating competitive factors relative to a proposed acquisition, merger, consolidation, assumption of liabilities, or transfer of assets, under paragraph (1), the Board shall consider the banking products and services offered by the following types of entities, including loans and deposits:
“(A) Depository institutions, as such term is defined in section 3(c) of the Federal Deposit Insurance Act (12 U.S.C. 1813(c)).
“(B) Depository institution holding companies, as such term is defined in section 3(w) of the Federal Deposit Insurance Act (12 U.S.C. 1813(w)).
“(C) Industrial loan companies, industrial banks, or other similar institutions, as such term is defined in section 2(c) of the Bank Holding Company Act (12 U.S.C. 1841(c)).
“(D) Entities chartered and operating under the Farm Credit Act of 1971.
“(E) Nonbank financial companies, as such term is defined in section 102 of the Financial Stability Act of 2010.
“(F) Insured credit unions and noninsured credit unions, as such terms are defined in section 101 of the Federal Credit Union Act.
“(9) FOR PROPOSED TRANSACTIONS RESULTING IN ENTITIES WITH LESS THAN $10,000,000,000 IN ASSETS.—If a proposed acquisition, merger, consolidation, assumption of liabilities, or transfer of assets under this section would result in an entity with less than $10,000,000,000 in assets, then the Board shall find that such acquisition, merger, consolidation, assumption of liabilities, or transfer of assets would not—
“(A) result in a monopoly, or be in furtherance of any combination or conspiracy to monopolize or to attempt to monopolize the business of banking in any part of the United States; and
“(B) have the effect in any section of the country of substantially to lessening competition, tending to create a monopoly, or in any other manner restraining trade.”.