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U.S. GOVERNMENT
INFORMATION 4
119TH CONGRESS REPORT
1st Session J HOUSE OF REPRESENTATIVES 119-368
MERCHANT BANKING MODERNIZATION ACT
NOVEMBER 4, 2025.-Committed to the Committee of the Whole House on the State
of the Union and ordered to be printed
Mr. HILL of Arkansas, from the Committee on Financial Services,
submitted the following
REPORT
together with
MINORITY VIEWS
[To accompany H.R. 5291]
The Committee on Financial Services, to whom was referred the
bill (H.R. 5291) to amend the Bank Holding Company Act of 1956
to generally permit holding merchant banking investments of up to
15 years, having considered the same, reports favorably thereon
with an amendment and recommends that the bill as amended do
pass.
CONTENTS
Page
Purpose and Sum m ary ........................................................................................... . 2
Background and Need for Legislation .................................................................... 2
Com m ittee Consideration ........................................................................................ 3
R elated H earings ..................................................................................................... 3
C om m ittee V otes ..................................................................................................... 3
Com m ittee Oversight Findings ............................................................................... 5
Perform ance Goals and Objectives ......................................................................... 5
Com m ittee Cost Estim ate ....................................................................................... 5
New Budget Authority and CBO Cost Estimate ................................................... 5
Unfunded M andates Statem ent ............................................................................. 5
E arm ark Statem ent ................................................................................................. 5
Federal Advisory Committee Act Statement ......................................................... 6
Applicability to the Legislative Branch ................................................................. 6
Duplication of Federal Program s ............................................................................ 6
Section-by-Section Analysis of the Legislation ...................................................... 6
Changes in Existing Law Made by the Bill, as Reported ................. 6
M inority V iew s ........................................................................................................ 35
The amendment is as follows:
69-006](ViewImageLocal?handle=hein.congrecreports/crptxahva0001&div=1&collection=&method=preview&ext=.png&size=3)