Bank Competition Modernization

(a) In general Section 18(c) of the Federal Deposit Insurance Act (12 U.S.C. 1828(c)), as amended by section 604(c), is further amended— (1) in paragraph (4)(C)— (A) in clause (i), by striking or at the end; (B) in clause (ii), by striking the period at the end and inserting; or; and (C) by adding at the end the following: (iii) the proposed merger transaction would result in an entity with less than $10,000,000,000 in assets and would not result in there being only one insured depository institution with a physical presence in any relevant metropolitan statistical area.; and (2) by adding at the end the following: (16) For merger transactions resulting in institutions with less than $10,000,000,000 in assets and that would not result in there being only one insured depository institution with a physical presence in any relevant metropolitan statistical area Notwithstanding paragraph (5), if a proposed merger transaction would result in an institution with less than $10,000,000,000 in assets and would not result in there being only one insured depository institution with a physical presence in any relevant metropolitan statistical area, then the responsible agency shall not consider whether such merger transaction would— (A) result in a monopoly, or would be in furtherance of any combination or conspiracy to monopolize or to attempt to monopolize the business of banking in any part of the United States; and (B) have the effect in any section of the country of substantially lessening competition, tending to create a monopoly, or in any other manner restraining trade.. (b) For bank holding companies Section 3(c) of the Bank Holding Company Act of 1956 (12 U.S.C. 1842(c)) is amended by adding at the end the following: (8) For proposed transactions resulting in companies with less than $10,000,000,000 in assets and that would not result in there being only one insured depository institution with a physical presence in any relevant metropolitan statistical area Notwithstanding paragraph (1), if a proposed acquisition, merger, or consolidation under this section would result in a company with less than $10,000,000,000 in assets and would not result in there being only one insured depository institution with a physical presence in any relevant metropolitan statistical area, then the Board shall not consider whether such acquisition, merger, or consolidation would— (A) result in a monopoly, or would be in furtherance of any combination or conspiracy to monopolize or to attempt to monopolize the business of banking in any part of the United States; and (B) have the effect in any section of the country of substantially lessening competition, tending to create a monopoly, or in any other manner restraining trade.. (c) For savings and loan holding companies Section 10(e) of the Home Owners’ Loan Act (12 U.S.C. 1467a(e)), as amended by section 604(b), is further amended by adding at the end the following: (10) For proposed transactions resulting in companies with less than $10,000,000,000 in assets and that would not result in there being only one insured depository institution with a physical presence in any relevant metropolitan statistical area Notwithstanding subparagraphs (A) and (B) of paragraph (2), if a proposed transaction under this section would result in a company with less than $10,000,000,000 in assets and would not result in there being only one insured depository institution with a physical presence in any relevant metropolitan statistical area, then the Board shall not consider whether the transaction would— (A) result in a monopoly, or would be in furtherance of any combination or conspiracy to monopolize or to attempt to monopolize the savings and loan business in any part of the United States; and (B) have the effect in any section of the country of substantially lessening competition, tending to create a monopoly, or in any other manner restraining trade..