- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2024-03-22T17:14:00
The Federal Deposit Insurance Corporation (FDIC) 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.
The FDIC’s proposed statement of policy notice released Thursday represents the first potential revisions to the agency’s SOP on bank merger transactions since 2008. A public comment period will be open for 60 days after the notice is published in the Federal Register.
“The proposed statement of policy includes new content to make it more principles based, communicates the FDIC board’s expectations regarding the evaluation of merger applications filed pursuant to the Bank Merger Act, and describes the types of applications subject to FDIC approval,” said FDIC Chairman Martin Gruenberg in a statement.
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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.
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