H.R. 6555 Text - Reported in House - 119th Congress (2025-2026)

SEC. 2. Study on shelf charters and modified bidder qualification processes.

(a) Study.—The Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the Board of the Governors of the Federal Reserve System shall, jointly, carry out a study of—

(1) the use by the Comptroller of the Currency of shelf charters, including all conditional or preliminary shelf charter approvals granted between January 1, 2008, and the date of enactment of this Act;

(2) the use by the Federal Deposit Insurance Corporation of the modified bidder qualification process;

(3) the application of the Bank Holding Company Act of 1956 (12 U.S.C. 1841 et seq.) and section 10 of the Home Owners’ Loan Act (12 U.S.C. 1467a) to shelf charter proposals;

(4) whether shelf charters and modified bidder qualification processes were considered or used in connection with the receivership of any insured depository institution for which the Federal Deposit Insurance Corporation was appointed receiver in 2023;

(5) with respect to such receiverships, the extent to which greater use of shelf charters and modified bidder qualification processes could have—

(A) expanded the pool of participants in the acquisition of the assets or liabilities of such failed insured depository institutions;

(B) resulted in greater competition and diversity in market outcomes;

(C) protected the Deposit Insurance Fund; or

(D) strengthened financial stability and reduced the need for any emergency determination by the Secretary of the Treasury under section 13(c)(4)(G) of the Federal Deposit Insurance Act (12 U.S.C. 1823(c)(4)(G)) with respect to any such receivership;

(6) the impact of the use of shelf charters and modified bidder qualification processes since January 1, 2008, including on financial stability, the safety and soundness of affected insured depository institutions, and the availability of financial products and services provided to consumers by such institutions; and

(7) any benefits and risks of private equity ownership of banks through the use of shelf charters and modified bidder qualification processes.

(b) Report.—Not later than 1 year after the date of enactment of this Act, the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the Board of the Governors of the Federal Reserve System shall, jointly, submit a report to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate containing—

(1) all findings and determinations made in carrying out the study required under subsection (a); and

(2) an identification of statutory or regulatory barriers to the use and effectiveness of shelf charters and modified bidder qualification processes in the resolution of failed insured depository institutions, including recommendations for legislative and regulatory changes.

(c) Definitions.—In this section:

(1) INSURED DEPOSITORY INSTITUTION.—The term “insured depository institution” has the meaning given the term in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813).

(2) MODIFIED BIDDER QUALIFICATION PROCESS.—The term “modified bidder qualification process” has the meaning given such term in the press release of the Federal Deposit Insurance Corporation titled “FDIC Expands Bidder List for Troubled Institutions Plan Allows Those Without a Bank Charter to Participate in the Process” published November 26, 2008.

(3) SHELF CHARTER.—The term “shelf charter” has the meaning given such term in the report issued by the Comptroller of the Currency titled “Activities Permissible for National Banks and Federal Savings Associations, Cumulative” published October 2017.