- 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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The Federal Deposit Insurance Corporation proposed a new rule that would require banks to keep better deposit records on ownership of funds controlled by their financial technology partners.
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.
Any product that uses AI needs to be safety assessed for its entire lifespan under new rules that went into effect recently across the EU. Experts warned companies using AI to tailor products could be classed as “manufacturers” and face the same duty of care as developed.
When lawmakers slam the U.K.’s chief financial regulator as “incompetent,” it not only opens the doors for others to pile criticism on it, but it sparks a debate about how the organization can be improved–or removed.
The U.K. Financial Conduct Authority apologized to investors in peer-to-peer investment firm Collateral for not acting swiftly enough to prevent Collateral from defrauding its customers.
