US HB6546

Inspector General of each federal depository institution regulatory agency must review the agency's merger application procedures within 1 year of enactment and every 3 years thereafter

Reviews must evaluate mean and median application processing times, identify sources of delay, assess benefits and risks of different review approaches, and examine impacts on safety and soundness, financial stability, and competition

Inspector Generals must submit reports to Congress and publish findings online after each review, including specific recommendations to improve timeliness and efficiency

Regulated agencies (Federal Reserve Board, OCC, FDIC, and NCUA) must respond to each report with a written plan to implement recommendations and publish responses online

Applies to merger applications involving acquisitions of insured depository institutions and credit unions, including their equity interests, assets, or deposits under various existing banking statutes