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.

SJRES 13 in plain English: This joint resolution cancels a federal rule issued by the Office of the Comptroller of the Currency in September 2024 that changed how bank merger applications are reviewed. The nullified rule had eliminated automatic approvals under an expedited review process and ended the use of streamlined application forms for bank mergers.

Stated purpose

To nullify a 2024 rule from the Office of the Comptroller of the Currency that changed how federal regulators review bank merger applications, so that rule has no legal force or effect.

Key points

• Nullifies an OCC rule published September 25, 2024 on bank merger application reviews
• Restores automatic approvals under the expedited bank merger review procedure
• Reinstates streamlined application forms for bank merger requests

Arguments supporters make

• The 2024 rule made bank mergers harder and slower by eliminating automatic approvals and simplified application forms, creating unnecessary regulatory burdens on banks.
• Congress has the right to rein in agency rules that were not authorized by lawmakers, and this resolution is a proper use of that oversight power.
• Easing the merger review process encourages competition and efficiency in the banking sector, which can benefit consumers and businesses.

Arguments opponents make

• The 2024 rule added scrutiny to bank mergers to better protect consumers, communities, and financial stability — rolling it back weakens those safeguards.
• Removing the stricter review process makes it easier for large banks to merge with less oversight, which critics argue could reduce competition and increase concentration in the banking industry.
• Regulatory agencies like the OCC have expert knowledge of the banking system; overriding their carefully developed rules through a fast congressional disapproval process bypasses that expertise.

Tradeoffs

Restoring a faster, more streamlined merger review process may encourage banking activity and reduce compliance costs, but it also reduces the level of regulatory scrutiny applied to bank combinations that could affect competition and consumer protection.

Current status in Congress: Became law.

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