I 
119TH CONGRESS 
1ST SESSION H. R. 1900 
To specify when the record is complete on certain acquisition applications 
related to depository institution holding companies, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
MARCH 6, 2025 
Mr. BARR (for himself and Mr. FITZGERALD) introduced the following bill; 
which was referred to the Committee on Financial Services 
A BILL 
To specify when the record is complete on certain acquisition 
applications related to depository institution holding com-
panies, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Bank Failure Preven-
tion Act of 2025’’. 
SEC. 2. COMPLETE RECORD ON AN APPLICATION. 
(a) BANK HOLDING COMPANIES.—Section 3(b)(1) of 
the Bank Holding Company Act of 1956 (12 U.S.C. 
1842(b)(1)) is amended— 
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(1) by striking ‘‘Upon receiving’’ and inserting 
the following: 
‘‘(A) IN GENERAL.—Upon receiving’’; 
(2) by striking ‘‘required’’ and inserting ‘‘ac-
quired’’; 
(3) by striking ‘‘In the event of the failure of 
the Board to act on any application for approval 
under this section within the ninety-one-day period 
which begins on the date of submission to the Board 
of the complete record on that application, the appli-
cation shall be deemed to have been granted.’’; and 
(4) by adding at the end the following: 
‘‘(B) COMPLETE
RECORD
ON
AN
APPLICA-
TION.— 
‘‘(i) NOTICE
TO
APPLICANT.—Not later 
than 30 days after the date on which the Board 
receives an application for approval under this 
section, the Board shall transmit to the appli-
cant a letter that either— 
‘‘(I) confirms the record on the appli-
cation is complete; or 
‘‘(II) details all additional information 
that is required for the record on that ap-
plication to be complete. 
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‘‘(ii) EXTENSION
OF
NOTICE.—Notwith-
standing clause (i), the Board may, if an appli-
cation is unusually complex, extend the 30-day 
period described under clause (i) for an addi-
tional 30 days. 
‘‘(iii) RECEIPT OF RESPONSE; DEEMING OF 
COMPLETE
RECORD.—Upon receipt of a re-
sponse from an applicant to a notice requesting 
additional information described under clause 
(i)(II), the record on the application shall be 
deemed complete unless the Board— 
‘‘(I) determines that the applicant’s 
response was materially deficient; and 
‘‘(II) not later than 30 days after the 
date on which the Board received the re-
sponse, provides the applicant a detailed 
notice describing the deficiencies. 
‘‘(iv) TREATMENT OF THIRD-PARTY INFOR-
MATION.—In determining whether the record on 
an application is complete, the Board may take 
into account only information provided by the 
applicant, and may not base the determination 
of the Board on any information (including re-
ports, views, or recommendations) provided by 
third parties. 
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‘‘(C) DEADLINE FOR DETERMINATION.— 
‘‘(i) IN GENERAL.—Notwithstanding sub-
paragraphs (A) and (B), the Board shall grant 
or deny an application submitted under this 
section not later than 90 days after the date on 
which the application was initially submitted to 
the Board, regardless of whether the record on 
such initial application was complete. 
‘‘(ii) FAILURE
TO
MAKE
A
DETERMINA-
TION.—If the Board does not grant or deny an 
application within the time period described 
under clause (i), such application shall be 
deemed to have been granted.’’. 
(b) SAVINGS AND LOAN HOLDING COMPANIES.—Sec-
tion 10(e) of the Home Owners’ Loan Act (12 U.S.C. 
1467a(e)) is amended— 
(1) in paragraph (2), by striking ‘‘, and shall 
render a decision within 90 days after submission to 
the Board of the complete record on the applica-
tion’’; 
(2) by redesignating paragraph (7) as para-
graph (9); and 
(3) by inserting after paragraph (6) the fol-
lowing: 
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‘‘(7) COMPLETE
RECORD
ON
AN
APPLICA-
TION.— 
‘‘(A) NOTICE
TO
APPLICANT.—Not later 
than 30 days after the date on which the Board 
receives an application for approval under this 
subsection, the Board shall transmit to the ap-
plicant a letter that either— 
‘‘(i) confirms the record on the appli-
cation is complete; or 
‘‘(ii) details all additional information 
that is required for the record on that ap-
plication to be complete. 
‘‘(B) EXTENSION
OF
NOTICE.—Notwith-
standing subparagraph (A), the Board may, if 
an application is unusually complex, extend the 
30-day period described under subparagraph 
(A) for an additional 30 days. 
‘‘(C) RECEIPT OF RESPONSE; DEEMING OF 
COMPLETE
RECORD.—Upon receipt of a re-
sponse from an applicant to a notice requesting 
additional information described under subpara-
graph (A)(ii), the record on the application 
shall be deemed complete unless the Board— 
‘‘(i) determines that the applicant’s 
response was materially deficient; and 
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