Sec. 3. Cost-benefit analysis for merger transactions
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Section 18(c) of the Federal Deposit Insurance Act ( 12 U.S.C. 1828(c) ) is amended by adding at the end the following new paragraph: The responsible agency shall not approve any proposed merger transaction under this subsection unless the responsible agency determines that the public benefits of the merger transaction outweigh the expected costs. In evaluating the expected costs of the proposed merger transaction under subparagraph (A), the responsible agency shall consider— the probable effect of the proposed merger transaction on the cost and availability of financial products and services; the probable effect of branch closures on customers of each bank or savings association involved in the proposed merger transaction; the probable effect of the proposed merger transaction on relevant local economies, including employment losses relating to branch closures and impacts on job quality; and any other cost of the proposed merger transaction that the responsible agency considers pursuant to this subsection. .
Section 3(c) of the Bank Holding Company Act of 1956 ( 12 U.S.C. 1842(c) ) is amended by adding at the end the following new paragraph: The Board may not approve an application under this section unless the Board determines that the public benefits of the proposed transaction outweigh the expected costs. In evaluating the expected costs of the proposed transaction under subparagraph (A), the Board shall consider— the probable effect of the proposed transaction on the cost and availability of financial products and services; the probable effect of branch closures on customers of each company involved in the proposed transaction; the probable effect of the proposed transaction on relevant local economies, including employment losses relating to branch closures and impacts on job quality; and any other cost of the proposed transaction that the Board considers pursuant to this subsection. .
Section 4(j)(2) of the Bank Holding Company Act of 1956 ( 12 U.S.C. 1843(j)(2) ) is amended by adding at the end the following new subparagraph: The Board shall deny a notice filed pursuant to this subsection unless the Board determines that the public benefits of the proposed transaction or activity described in the notice outweigh the expected costs. In evaluating the expected costs of the proposed transaction under subparagraph (A), the Board shall consider— the probable effect of the proposed transaction or activity on the cost and availability of financial products and services; the probable effect of branch closures on customers of each company involved in the proposed transaction or activity; the probable effect of the proposed transaction or activity on relevant local economies, including employment losses relating to branch closures and impacts on job quality; and any other cost of the proposed transaction or activity that the Board considers pursuant to this paragraph. .
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