Overview

• The House of Representatives narrowly passed a resolution, 210-208, to repeal the OCC’s 2024 bank merger rule, following earlier Senate approval by a 52-47 vote.
• The resolution now awaits President Donald Trump’s signature, which would bar the OCC from implementing similar reforms in the future.
• The Biden-era rule, finalized in September 2024, aimed to eliminate expedited reviews and improve transparency in the bank merger process.
• Proponents of the repeal, led by Rep. Andy Barr, argue the reforms introduced unnecessary political influence and hindered responsible bank growth.
• This marks the latest Congressional Review Act rollback of Biden-era financial regulations, following recent repeals of CFPB rules on data firms and overdraft fees.