Requires federal bank regulators to tell applicants within 30 days whether their acquisition applications are complete and to decide them within 90 days, or else treat them as approved.

• Requires the Federal Reserve to send bank and savings and loan holding company applicants a letter within 30 days confirming the application is complete or listing missing information, with one 30-day extension for complex applications.
• Deems an application complete once the applicant responds to a request for more information, unless the regulator finds the response materially deficient and explains the deficiencies within 30 days.
• Limits completeness reviews to information from the applicant, excluding reports, views, or recommendations from third parties.
• Requires a decision within 90 days of the initial submission, deems applications granted if no decision is made, and allows extensions of up to 30 days at the applicant's request.

• Financial Services Committee (House)

Finance and Financial Sector