H.R. 6546: Merger Process Review Act

H.R. 6546 does not change who wins a bank merger fight — it makes the referees explain how they are calling the game.

The bill orders the inspector general at each of the 4 main federal banking regulators to review that agency's merger process within 1 year of enactment, then repeat the review every 3 years. Those audits must look at hard numbers, including average and median processing times, and identify what is slowing applications down.

The reviews are not just about speed. Inspectors general also have to examine how different review approaches affect financial stability, competition, safety and soundness, and whether customers still have access to financial products and services after mergers are approved.

The practical change is transparency: Congress and the public would get regular reports showing where merger reviews stall and what regulators plan to fix.

Each inspector general must send a report to Congress and publish it online. The agency then has to answer in writing and lay out an implementation plan if it agrees changes are appropriate.

The bill applies broadly. It covers bank and credit union merger-related applications handled by the Federal Reserve, the Office of the Comptroller of the Currency, the FDIC, and the National Credit Union Administration, including deals involving an institution's equity, assets, or deposits.

If this becomes law, merger reviews would still be case-by-case — but the process itself would be on a recurring public scorecard.