Motion to Proceed Agreed to in the Senate on May 6, 2025 · 53 Yea, 46 Nay, 1 Not Voting
Question: On the Motion to Proceed S.J.Res. 13
In plain English: Congress is voting to block a new rule from the Treasury Department that changes how bank merger applications are reviewed. This rule would end automatic approvals for some mergers and stop the use of simpler application forms.
This joint resolution nullifies the final rule issued by the Department of the Treasury’s Office of the Comptroller of the Currency titled Business Combinations Under the Bank Merger Act and published on September 25, 2024. The rule revises procedures for reviewing applications for proposed bank mergers, such as by removing automatic approvals under an expedited review procedure and by discontinuing streamlined application forms.