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Comment: US OCC, FDIC, DOJ adopt bank merger review policies; Fed chooses not to act

By Neil Roland, Ilana Kowarski and Wesley Brown ( September 17, 2024, 23:56 GMT | Comment) -- The US Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation – but not the Federal Reserve – issued policy changes on bank merger oversight, creating confusion in the policing of large bank consolidations. In a flurry of Biden administration activity reflecting responses to the collapse of three regional banks in spring 2023, the Justice Department also unveiled guidance that withdrew 1995 bank merger guidelines and provided a detailed addendum to 2023 guidelines. The Fed’s top regulator, Michael Barr, said in May that the central bank wouldn’t put out its own rules if it couldn’t reach agreement with the other agencies. The US Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation – but not the Federal Reserve – issued policy changes on bank merger oversight, creating confusion in the policing of large bank consolidations....

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