Competition in Banking Act

[AI summary unavailable — showing source text] Competition in Banking Act - Sets standards to be followed, by the appropriate agency, for approving or disapproving bank mergers and acquisitions of banks by bank holding companies pursuant to the Federal Deposit Insurance Act and the Bank Holding Company Act. Prohibits bank mergers or acquisitions of banks by bank holding companies if such transactions would result in a monopoly, furtherance of a combination or conspiracy to monopolize , or substantially lessen competition in any section of the country unless such anticompetitive effects are clearly outweighed in the public interest by the probable effect of the transaction in meeting the convenience and needs of the community to be served. Prohibits such tranactions if the appropriate regulatory agency finds that as a result of such transaction any one bank or holding company will control more than 20 percent of the banking assets held by banks in the States in which such bank or holding company is located. Excepts from this 20 percent prohibition a transaction which the appropriate agency finds to be immediately necessary to prevent the probable failure of a bank and where such agency finds that a less anticompetitive alternati…