The bank merger review rule is undone
What the document says“Congress disapproves the rule submitted by the Office of the Comptroller of the Currency of the Department of the Treasury relating to "Business Combinations Under the Bank Merger Act" (89 Fed. Reg. 78207 (September 25, 2024)), and such rule shall have no force or effect.”
A resolution of disapproval under chapter 8 of title 5 of the United States Code, the Congressional Review Act. It names the rule by the title the agency gave it and by where the rule was published, and it states no reason. What the rule itself required is not described here, because that rule is not one of the documents this site has indexed.
What the document actually says“Congress disapproves the rule submitted by the Office of the Comptroller of the Currency of the Department of the Treasury relating to "Business Combinations Under the Bank Merger Act" (89 Fed. Reg. 78207 (September 25, 2024)), and such rule shall have no force or effect.”
Congress votes down a rule about bank mergers. The rule now has no force.
The OCC wrote a rule about bank mergers. Congress voted to undo it. The rule is dead. It binds no one now. Congress used a law that lets it undo a new rule within a set time.
No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.