IB 
Union Calendar No. 101 
119TH CONGRESS 
1ST SESSION H. R. 1900 
[Report No. 119–132] 
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 
JUNE 4, 2025 
Additional sponsors: Mr. MEUSER and Mr. SESSIONS 
JUNE 4, 2025 
Reported with an amendment, committed to the Committee of the Whole 
House on the State of the Union, and ordered to be printed 
[Strike out all after the enacting clause and insert the part printed in italic] 
[For text of introduced bill, see copy of bill as introduced on March 6, 2025] 
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A BILL 
To specify when the record is complete on certain acquisition 
applications related to depository institution holding com-
panies, and for other purposes. 
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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 Prevention 
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— 
(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 application 
shall be deemed to have been granted.’’; and 
(4) by adding at the end the following: 
‘‘(B) COMPLETE RECORD ON AN APPLICATION.— 
‘‘(i) NOTICE TO APPLICANT.—Not later than 
30 days after the date on which the Board re-
ceives an application for approval under this 
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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 appli-
cation to be complete. 
‘‘(ii) EXTENSION
OF
NOTICE.—Notwith-
standing clause (i), the Board may, if an appli-
cation is complex, extend the 30-day period de-
scribed under clause (i) for an additional 30 
days. 
‘‘(iii) RECEIPT OF RESPONSE; DEEMING OF 
COMPLETE RECORD.—Upon receipt of a response 
from an applicant to a notice requesting addi-
tional information described under clause (i)(II), 
the record on the application shall be deemed 
complete unless the Board— 
‘‘(I) determines that the applicant’s re-
sponse 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. 
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‘‘(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 completeness on any information (including 
reports, views, or recommendations) provided by 
third parties. 
‘‘(C) DEADLINE FOR DETERMINATION.— 
‘‘(i) IN
GENERAL.—Notwithstanding sub-
paragraphs (A) and (B), the Board shall grant 
or deny an application submitted under this sec-
tion 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. 
‘‘(iii) TOLLING
OF
PERIOD.—The Board 
may at any time extend the deadline described 
under clause (i) at the request of the applicant, 
but may not extend the deadline more than 30 
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days past the deadline described under clause 
(i).’’. 
(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 application’’; 
(2) by redesignating paragraph (7) as para-
graph (9); and 
(3) by inserting after paragraph (6) the fol-
lowing: 
‘‘(7) COMPLETE RECORD ON AN APPLICATION.— 
‘‘(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 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 appli-
cation to be complete. 
‘‘(B) EXTENSION
OF
NOTICE.—Notwith-
standing subparagraph (A), the Board may, if 
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an application is complex, extend the 30-day pe-
riod described under subparagraph (A) for an 
additional 30 days. 
‘‘(C) RECEIPT OF RESPONSE; DEEMING OF 
COMPLETE RECORD.—Upon receipt of a response 
from an applicant to a notice requesting addi-
tional 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 re-
sponse 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. 
‘‘(D) 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 completeness on any information (including 
reports, views, or recommendations) provided by 
third parties. 
‘‘(8) DEADLINE FOR DETERMINATION.— 
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‘‘(A) IN
GENERAL.—Notwithstanding any 
other provision of this subsection, the Board shall 
grant or deny an application submitted under 
this subsection not later than 90 days after the 
date on which the application was initially sub-
mitted to the Board, regardless of whether the 
record on such initial application was complete. 
‘‘(B) FAILURE
TO
MAKE
A
DETERMINA-
TION.—If the Board does not grant or deny an 
application within the time period described 
under subparagraph (A), such application shall 
be deemed to have been granted. 
‘‘(C) TOLLING OF PERIOD.—The Board may 
at any time extend the deadline described under 
subparagraph (A) at the request of the applicant, 
but may not extend the deadline more than 30 
days past the deadline described under subpara-
graph (A).’’. 
(c) INSURED DEPOSITORY INSTITUTIONS.—Section 
18(c) of the Federal Deposit Insurance Act (12 U.S.C. 
1828(c)) is amended by adding at the end the following: 
‘‘(14) COMPLETE RECORD ON AN APPLICATION.— 
‘‘(A) NOTICE TO APPLICANT.—Not later than 30 
days after the date on which the responsible agency 
receives a merger application for approval under this 
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subsection, the responsible agency shall transmit to 
the applicant a letter that either— 
‘‘(i) confirms the record on the application 
is complete; or 
‘‘(ii) details all additional information that 
is required for the record on that application to 
be complete. 
‘‘(B) EXTENSION OF NOTICE.—Notwithstanding 
subparagraph (A), the responsible agency may, if an 
application is unusually complex, extend the 30-day 
period described under subparagraph (A) for an addi-
tional 30 days. 
‘‘(C) RECEIPT OF RESPONSE; DEEMING OF COM-
PLETE RECORD.—Upon receipt of a response from an 
applicant to a notice requesting additional informa-
tion described under subparagraph (A)(ii), the record 
on the application shall be deemed complete unless the 
responsible agency— 
‘‘(i) determines that the applicant’s re-
sponse was materially deficient; and 
‘‘(ii) not later than 30 days after the date 
on which the responsible agency received the re-
sponse, provides the applicant a detailed notice 
describing the deficiencies. 
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‘‘(D) TREATMENT
OF
THIRD-PARTY
INFORMA-
TION.—In determining whether the record on an ap-
plication is complete, the responsible agency may take 
into account only information provided by the appli-
cant, and may not base the determination of com-
pleteness on any information (including reports, 
views, or recommendations) provided by third parties. 
‘‘(15) DEADLINE FOR DETERMINATION.— 
‘‘(A) IN GENERAL.—Notwithstanding any other 
provision of this subsection, the responsible agency 
shall grant or deny a merger application submitted 
under this subsection not later than 90 days after the 
date on which the application was initially submitted 
to the responsible agency, regardless of whether the 
record on such initial application was complete. 
‘‘(B) FAILURE TO MAKE A DETERMINATION.—If 
the responsible agency does not grant or deny an ap-
plication within the time period described under sub-
paragraph (A), such application shall be deemed to 
have been granted. 
‘‘(C) TOLLING
OF
PERIOD.—The responsible 
agency may at any time extend the deadline described 
under subparagraph (A) at the request of the appli-
cant, but may not extend the deadline more than 30 
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days past the deadline described under subparagraph 
(A).’’. 
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Union Calendar No. 101 
119TH CONGRESS 
1ST SESSION 
H. R. 1900 
[Report No. 119–132] 
A BILL 
To specify when the record is complete on certain 
acquisition applications related to depository in-
stitution holding companies, and for other pur-
poses. 
JUNE 4, 2025 
Reported with an amendment, committed to the Com-
mittee of the Whole House on the State of the Union, 
and ordered to be printed 
VerDate Sep 11 2014 
22:12 Jun 04, 2025
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PO 00000
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