This bill significantly amends existing banking laws to tighten the conditions under which concentration limits can be waived for mergers involving failing banks. Federal agencies can now only approve such acquisitions if they determine, based on clear and convincing evidence , that the transaction is absolutely necessary to prevent significant economic disruption or adverse effects on financial stability . This critical exception is further limited by requiring that no other qualified bid from a well-capitalized and well-managed company, not subject to concentration limit prohibitions, has been received. To increase transparency and accountability, the bill mandates that when a concentration limit is waived, the responsible agency and the Federal Deposit Insurance Corporation (FDIC) must jointly submit a detailed report to Congress within 30 days. This report must justify the waiver, describe alternative bids considered, explain why they were not chosen, and offer recommendations for improving competition in future bank resolutions. The report must also be made publicly available on agency websites. Furthermore, the bill prohibits the FDIC from considering bids that would violate concentration limits when making its "least costly" determination for resolving a failing bank. This ensures that the pursuit of the lowest cost resolution does not inadvertently lead to increased market concentration by allowing bids from entities that would otherwise exceed regulatory limits.