- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2024-09-18T13:42:00
Federal banking regulators approved a new rule for bank mergers that will require additional scrutiny of mergers for antitrust issues for large and mid-sized banks.
The Federal Deposit Insurance Corporation (FDIC) approved a statement of policy notice Tuesday that will place increased scrutiny on mergers that create an institution with $100 billion or more in assets. The increased scrutiny will attempt to evaluate the financial stability of the merged institution and potential antitrust issues.
The FDIC also said it would require mergers that create an institution with more than $50 billion in assets to hold public hearings, a new requirement.
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President Joe Biden selected a commissioner at the Commodity Futures Trading Commission as his preferred choice to lead the Federal Deposit Insurance Corporation in the aftermath of its toxic workplace culture scandal.
The Federal Deposit Insurance Corporation proposed to strengthen its approach to evaluating bank mergers under the Bank Merger Act, particularly how it would address factors like competition, financial resources, the convenience and needs of communities, financial stability, and money laundering.
Federal banking regulators jointly issued new rule proposals and proposed guidance in continuing the push to shore up the U.S. regulatory system after a series of mid-sized bank failures earlier this year exposed apparent gaps.
Facing intense pressure from the banking industry, the Federal Reserve Board may scale back two controversial rule proposals aimed at reducing risks of bank failures in the event of a market downturn.
The U.K. Financial Conduct Authority is pushing back the date for some firms to comply with its naming and marketing rule amid struggles to prepare for it, the FCA said Monday.
The U.S. Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency has created a new online portal for organizations to voluntarily report cybersecurity incidents, including ransomware attacks.
