Failing Bank Acquisition Fairness Act
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Summary
The Failing Bank Acquisition Fairness Act restricts the use of concentration limit exceptions in bank mergers involving failed or failing institutions. Under current law, regulators can waive deposit concentration limits in such mergers without justification; this bill requires regulators to determine, based on clear and convincing evidence, that the merger is necessary to prevent significant economic disruption or financial instability, and that no qualified alternative bids exist. The bill also requires federal banking agencies to notify Congress and provide written justification whenever they invoke such waivers.
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