,i  #aai? ,,congress  #a/ ,session  ,h4 
,r4 #aijj  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,m>* #f1 #bjbe,mr4    
,b>r 7= himself & ,mr4 ,fitzg]ald7      
introduc$ ! foll[+ bill2 :i* 0 ref]r$ to
 ! ,committee on ,f9ancial ,s]vices  ,a 
,,bill  ,to specify :5 ! record is      
complete on c]ta9 acquisition           
applications relat$ to depository       
in/itution hold+ companies1 & = o!r     
purposes4  #a4 ,%ort title ,?is ,act may
 be cit$ z ! ,bank ,failure ,prev5tion  
,act ( #bjbe4  #b4 ,complete record on  
an application  7a7 ,bank hold+         
companies ,section #c7;b77#a7 ( ! ,bank 
,hold+ ,company ,act ( #aief 7#ab       
,u4,s4,c4 #ahdb7;b77#a77 is am5d$--     
7#a7 by /rik+ ,^u receiv+ & ins]t+ !    
foll[+3  7,a7 ,9 g5]al ,^u receiv+  2   
7#b7 by /rik+ requir$ & ins]t+ acquir$2 
7#c7 by /rik+ ,9 ! ev5t ( ! failure ( ! 
,bo>d to act on any application =       
approval "u ?is section )9 !            
n9ety-"o-day p]iod :i* beg9s on ! date (
 submission to ! ,bo>d ( ! complete     

record on t application1 ! application  
%all be deem$ to h be5 grant$42 &  7#d7 
by add+ at ! end ! foll[+3  7,b7        
,complete record on an application  7i7 
,notice to applicant ,n lat] ?an #cj    
days aft] ! date on :i* ! ,bo>d receives
 an application = approval "u ?is       
section1 ! ,bo>d %all transmit to !     
applicant a lett] t ei!r--  7,i7        
confirms ! record on ! application is   
complete2 or  7,,ii7 details all        
additional in=mation t is requir$ = !   
record on t application to be complete4 
7ii7 ,ext5sion ( notice ,not)/&+ clause 
7i71 ! ,bo>d may1 if an application is  
unusually complex1 ext5d ! #cj-;day     
p]iod describ$ "u clause 7i7 = an       
additional #cj days4  7iii7 ,receipt (  
response2 deem+ ( complete record ,^u   
receipt ( a response f an applicant to a
 notice reque/+ additional in=mation    
describ$ "u clause 7i77,,ii71 ! record  
on ! application %all be deem$ complete 
unless ! ,bo>d--  7,i7 det]m9es t !     
applicant's response 0 mat]ially        

defici5t2 &  7,,ii7 n lat] ?an #cj days 
aft] ! date on :i* ! ,bo>d receiv$ !    
response1 provides ! applicant a detail$
 notice describ+ ! defici5cies4  7iv7   
,treatm5t ( ?ird-p>ty in=mation ,9      
det]m9+ :e!r ! record on an application 
is complete1 ! ,bo>d may take into      
acc\nt only in=mation provid$ by !      
applicant1 & may n base ! det]m9ation ( 
! ,bo>d on any in=mation 7includ+       
reports1 views1 or recomm5dations7      
provid$ by ?ird p>ties4  7,c7 ,deadl9e =
 det]m9ation  7i7 ,9 g5]al ,not)/&+     
subp>agraphs 7,a7 & 7,b71 ! ,bo>d %all  
grant or d5y an application submitt$ "u 
?is section n lat] ?an #ij days aft] !  
date on :i* ! application 0 initially   
submitt$ to ! ,bo>d1 reg>dless ( :e!r ! 
record on su* initial application 0     
complete4  7ii7 ,failure to make a      
det]m9ation ,if ! ,bo>d does n grant or 
d5y an application )9 ! "t p]iod        
describ$ "u clause 7i71 su* application 
%all be deem$ to h be5 grant$4  4  7b7  
,sav+s & loan hold+ companies ,section  

#aj7;e7 ( ! ,home ,own]s' ,loan ,act    
7#ab ,u4,s4,c4 #adfg;a7e77 is am5d$--   
7#a7 9 p>agraph 7#b71 by /rik+ 1 & %all 
r5d] a decision )9 #ij days aft]        
submission to ! ,bo>d ( ! complete      
record on ! application2  7#b7 by       
r$esignat+ p>agraph 7#g7 z p>agraph     
7#i72 &  7#c7 by ins]t+ aft] p>agraph   
7#f7 ! foll[+3  7#g7 ,complete record on
 an application  7,a7 ,notice to        
applicant ,n lat] ?an #cj days aft] !   
date on :i* ! ,bo>d receives an         
application = approval "u ?is           
subsection1 ! ,bo>d %all transmit to !  
applicant a lett] t ei!r--  7i7 confirms
 ! record on ! application is complete2 
or  7ii7 details all additional         
in=mation t is requir$ = ! record on t  
application to be complete4  7,b7       
,ext5sion ( notice ,not)/&+ subp>agraph 
7,a71 ! ,bo>d may1 if an application is 
unusually complex1 ext5d ! #cj-;day     
p]iod describ$ "u subp>agraph 7,a7 = an 
additional #cj days4  7,c7 ,receipt (   
response2 deem+ ( complete record ,^u   

receipt ( a response f an applicant to a
 notice reque/+ additional in=mation    
describ$ "u subp>agraph 7,a77ii71 !     
record on ! application %all be deem$   
complete unless ! ,bo>d--  7i7 det]m9es 
t ! applicant's response 0 mat]ially    
defici5t2 &  7ii7 n lat] ?an #cj days   
aft] ! date on :i* ! ,bo>d receiv$ !    
response1 provides ! applicant a detail$
 notice describ+ ! defici5cies4  7,d7   
,treatm5t ( ?ird-p>ty in=mation ,9      
det]m9+ :e!r ! record on an application 
is complete1 ! ,bo>d may take into      
acc\nt only in=mation provid$ by !      
applicant1 & may n base ! det]m9ation ( 
! ,bo>d on any in=mation 7includ+       
reports1 views1 or recomm5dations7      
provid$ by ?ird p>ties4  7#h7 ,deadl9e =
 det]m9ation  7,a7 ,9 g5]al ,not)/&+ any
 o!r provision ( ?is subsection1 ! ,bo>d
 %all grant or d5y an application       
submitt$ "u ?is subsection n lat] ?an   
#ij days aft] ! date on :i* !           
application 0 initially submitt$ to !   
,bo>d1 reg>dless ( :e!r ! record on su* 

initial application 0 complete4  7,b7   
,failure to make a det]m9ation ,if !    
,bo>d does n grant or d5y an application
 )9 ! "t p]iod describ$ "u subp>agraph  
7,a71 su* application %all be deem$ to h
 be5 grant$4  4