Sec. 12. Citizen standing
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Section 18(c) of the Federal Deposit Insurance Act ( 12 U.S.C. 1828(c) ), as amended by section 10, is further amended by adding at the end the following new paragraph: Not later than 10 days after the approval of a merger transaction by the responsible agency under this subsection or the denial of a request for reconsideration of an application for a merger transaction, an individual may file a civil action in the appropriate United States district court to review such approval, regardless of whether the individual submitted a comment or otherwise participated in the application process for approval of the merger transaction.
In any such action, the court shall review de novo the issues presented, consider the matter on an expedited basis, and issue a decision within 30 days. An individual who files a civil action under this paragraph may not be required to pay the costs of the responsible agency or any party to the merger transaction that is the subject of the civil action. The proposed merger transaction that is the subject of a civil action under this paragraph may not be consummated until the court issues a final decision in such action. .
Section 3(c) of the Bank Holding Company Act of 1956 ( 12 U.S.C. 1842(c) ), as amended by section 10, is further amended by adding at the end the following new paragraph: Not later than 10 days after the approval of an application under this section by the Board, or the denial of a request for reconsideration of such an application by the Board, an individual may file a civil action in the appropriate United States district court to review such approval, regardless of whether the individual submitted a comment or otherwise participated in the application process.
In any such action, the court shall review de novo the issues presented, consider the matter on an expedited basis, and issue a decision within 30 days. An individual who files a civil action under this paragraph may not be required to pay the costs of the Board or any party to the application that is the subject of the civil action. The proposed acquisition, merger, or consolidation that is the subject of a civil action under this paragraph may not be consummated until the court issues a final decision in such action. .
Section 4(j)(2) of the Bank Holding Company Act of 1956 ( 12 U.S.C. 1843(j)(2) ), as amended by section 5, is further amended by adding at the end the following new subparagraph: Not later than 10 days after the approval of a notice under this subsection by the Board, or the denial of a request for reconsideration of such notice by the Board, an individual may file a civil action in the appropriate United States district court to review such approval, regardless of whether the individual submitted a comment or otherwise participated in the notice process.
In any such action, the court shall review de novo the issues presented, consider the matter on an expedited basis, and issue a decision within 30 days. An individual who files a civil action under this subparagraph may not be required to pay the costs of the Board or any party to the notice that is the subject of the civil action. The proposed transaction or activity that is the subject of a civil action under this subparagraph may not be commenced or consummated until the court issues a final decision in such action. .
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