CFPB Director Rohit Chopra decried the trend toward bank consolidation and proposed reforms to bank merger policy.
News & Insights
The FDIC proposed amendments to its Statement of Policy on Bank Merger Transactions relevant to all insured depository institutions.
The OCC proposed amendments to its rules, and a related policy statement, governing mergers involving (i) national banks, (ii) federal savings associations and (iii) federal branches and agencies of foreign banks.
Acting Comptroller of the Currency Michael J. Hsu argued that careful consideration should be given to any regulatory enhancements to help ensure that "updated liquidity risk management practices are implemented and sustained systematically and consistently, especially across midsize and large banks."
The OCC, the Federal Reserve Board and the FDIC extended the comment deadline on a proposed rule on long-term debt requirements. The comment period was extended to January 16, 2024.