H.R. 6546 — Merger Process Review Act

This section directs the Inspector General of each Federal depository institution regulatory agency (i.e., Board of Governors of the Federal Reserve System, Comptroller of the Currency, Federal Deposit Insurance Corporation, and National Credit Union Administration) to review the agency's merger review procedures—including timeliness and efficiency in processing insured depository institution merger applications—not later than one year after enactment and every three years thereafter. The review must (1) evaluate quantifiable metrics such as mean and median processing times; (2) identify sources of delay; (3) assess benefits and risks of different review approaches; (4) evaluate impacts on safety and soundness, financial stability, competition, and availability of financial products and services; and (5) provide recommendations to improve timeliness and efficiency. Each Inspector General must issue a report to Congress with all findings and publish it online, and the relevant agency must submit and publish a response including a plan to implement appropriate recommendations.