Placed on the Union Calendar, Calendar No. 101.
This bill amends the Bank Holding Company Act, the Home Owners’ Loan Act, and the Federal Deposit Insurance Act to define when the administrative record for applications (acquisitions, mergers, approvals) is "complete." It requires agencies to notify applicants within 30 days whether the record is complete or what additional information is needed, allows a single 30-day extension for complex applications, treats an applicant’s timely response as completing the record unless materially deficient, prohibits basing completeness on third-party information, and requires agencies to grant or deny applications within 90 days of initial submission or have the application deemed granted. Agencies may toll the 90-day deadline at the applicant’s request, but not more than 30 days.
Progressives emphasize weakened oversight and systemic risk.
Relative to its intended legislative type, this bill is a well-specified administrative/operational amendment that replaces ambiguous practice with concrete procedural rules and deadlines across multiple statutory frameworks.
This bill amends the Bank Holding Company Act, the Home Owners’ Loan Act, and the Federal Deposit Insurance Act to define when the administrative record for applications (acquisitions, mergers, approvals) is "complete." It requires agencies to notify applicants within 30 days whether the record is complete or what additional information is needed, allows a single 30-day extension for complex applications, treats an applicant’s timely response as completing the record unless materially deficient, prohibits basing completeness on third-party information, and requires agencies to grant or deny applications within 90 days of initial submission or have the application deemed granted.
Agencies may toll the 90-day deadline at the applicant’s request, but not more than 30 days.
Narrow but consequential deregulatory procedural change easier in a receptive House, hard in the Senate due to institutional hurdles and likely agency opposition.
Relative to its intended legislative type, this bill is a well-specified administrative/operational amendment that replaces ambiguous practice with concrete procedural rules and deadlines across multiple statutory frameworks. It clearly defines responsible entities, timelines, and legal consequences for inaction.
Progressives emphasize weakened oversight and systemic risk.
These are examples from the analysis, not a ranked list of the most-affected groups.
Progressives emphasize weakened oversight and systemic risk.
Views the bill skeptically because it limits regulators’ discretion and creates automatic approvals if agencies miss deadlines.
Concerned these procedural rules could weaken scrutiny of mergers and acquisitions, raising financial stability and community impact risks.
Notes some procedural transparency gains but views them as insufficient to offset risks.
Sees legitimate benefits in predictability and reduced regulatory delay but worries the "deemed granted" rule and limits on third-party information reduce regulators' ability to fully evaluate complex deals.
Would favor the bill with targeted safeguards for complex or systemically important transactions.
Views some impacts as uncertain and dependent on implementing guidance.
Generally supportive because the bill constrains bureaucratic delay, imposes clear statutory deadlines, and prevents regulatory overreach.
Sees the prohibition on using third-party information to delay completeness as protecting applicants from external interference.
Believes faster approvals encourage investment and market functioning.
Reached or meaningfully advanced
Reached or meaningfully advanced
Still ahead
Still ahead
Still ahead
Narrow but consequential deregulatory procedural change easier in a receptive House, hard in the Senate due to institutional hurdles and likely agency opposition.
The bill has not accumulated any surfaced votes yet.
Progressives emphasize weakened oversight and systemic risk.
Narrow but consequential deregulatory procedural change easier in a receptive House, hard in the Senate due to institutional hurdles and li…
Relative to its intended legislative type, this bill is a well-specified administrative/operational amendment that replaces ambiguous practice with concrete procedural rules and deadlines across multiple statutory frame…
Go beyond the headline summary with full stakeholder mapping, legislative design analysis, passage barriers, and lens-by-lens tradeoff breakdowns.