House GOP Repeals Rule On Regulating Bank Mergers

Politico reports:

House Republicans on Tuesday passed legislation to rescind a Biden-era policy meant to more closely scrutinize proposed bank mergers, sending the regulatory rollback to President Donald Trump’s desk. The House voted 220-207 to nullify a new rule finalized by the Office of the Comptroller of the Currency last September that created a tougher regulatory process for banks seeking to merge.

The GOP repeal measure cleared the Senate earlier this month on a 52-47 vote, which was also divided along party lines. Rep. Andy Barr (R-Ky.), speaking on the House floor before the vote, dismissed Democrats’ criticism that the effort was a waste of time. He said that the resolution was an “insurance policy” against “bad regulators” in the future. “The customers are the victims of these big mergers,” Rep. Maxine Waters said on the House floor before the vote.

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220-207:House voted to repeal a Biden Administration Office of the Comptroller of the Currency (OCC) rule on expedited bank merger reviews. TX Rep. Cuellar was the only Democrat to vote Yes with all Republicans. This disapproval resolution now heads to WH. https://t.co/kJBQRcsudn https://t.co/w0TmWGhJGg

— Craig Caplan (@CraigCaplan) May 20, 2025