Here is an article about the recent publication of S.J. Res. 13 (ENR):
Congress Reviews Bank Merger Application Rule: S.J. Res. 13 Published on govinfo.gov
Washington D.C. – A significant development in the oversight of banking regulations has occurred with the official publication of Senate Joint Resolution 13 (ENR) on the United States Government Publishing Office’s govinfo.gov platform. The resolution, titled “Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Office of the Comptroller of the Currency of the Department of the Treasury relating to the review of applications under the Bank Merger Act,” was made public on May 22, 2025, at 08:37.
This publication marks a crucial step in the congressional review process, specifically invoking Chapter 8 of Title 5 of the United States Code, which governs the Congressional Review Act (CRA). The CRA allows Congress to review, by joint resolution, the promulgation of certain Federal agency regulations. If a joint resolution of disapproval is enacted into law, the agency regulation is invalidated.
The subject of S.J. Res. 13 (ENR) is a rule proposed by the Office of the Comptroller of the Currency (OCC), an independent bureau within the Department of the Treasury. This specific rule pertains to the process by which the OCC reviews applications submitted under the Bank Merger Act. The Bank Merger Act is a federal law that requires the approval of relevant federal banking agencies for mergers, acquisitions, and consolidations involving banks and savings associations.
The resolution indicates that members of Congress have raised concerns or objections regarding the OCC’s proposed changes or interpretations of the application review process for bank mergers. The details within the full text of S.J. Res. 13 (ENR), available on govinfo.gov, would outline the specific provisions of the OCC’s rule that are being challenged and the rationale behind Congress’s intention to disapprove it.
The publication on govinfo.gov signifies that the resolution has officially entered the legislative record and is subject to further consideration by both the Senate and the House of Representatives. If passed by both chambers and signed by the President, or if a presidential veto is overridden, the OCC’s rule would be nullified.
This legislative action underscores the ongoing dialogue and oversight that Congress maintains over federal regulatory bodies, particularly in areas that significantly impact the financial industry. The banking sector, with its intricate role in the national economy, is subject to careful scrutiny to ensure stability, fair competition, and consumer protection. The publication of S.J. Res. 13 (ENR) invites further attention to the specific standards and procedures governing bank mergers in the United States.
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www.govinfo.gov published ‘S.J. Res. 13 (ENR) – Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Office of the Comptroller of the Currency of the Department of the Treasury relating to the review of applications under the Bank Merger Act.’ at 2025-05-22 08:37. Please write a detailed article about this news in a polite tone with relevant information. Please reply in English with the article only.