The Chamber of Commerce, the American Bankers Association, the Consumer Bankers Association and two Texas business groups challenged the CFPB on the recently adopted final rule restricting credit card penalty fees.
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Assistant Attorney General of the DOJ Antitrust Division Jonathan Kanter warned that the digital platform space, as it currently stands, is especially susceptible to monopolies and identified strategies for curbing the expansion of would-be monopolies.
Assistant Attorney General Jonathan Kanter reported that the DOJ Antitrust Division is engaging the entire merger staff of both the DOJ and FTC in anticipation of issuing new draft merger guidelines.
The DOJ's Antitrust Division requested feedback from the public regarding the 1995 Bank Merger Competitive Review Guidelines as to whether current bank merger review is sufficient to prevent harmful mergers and accounts for the full range of competitive factors under the laws.
The Board of Governors of the Federal Reserve System, FDIC, and Office of the Comptroller of the Currency (the "Agencies") jointly issued an Addendum to the "Interagency Policy Statement on Income Tax Allocation in a Holding Company". The Addendum was issued to ensure that insured depository institutions ("IDIs") in a consolidated group maintain an appropriate relationship regarding the payment of taxes and treatment of tax refunds. The Addendum instructs IDIs and their holding companies to review and revise their tax allocation agreements and ensure that the agreements expressly acknowledge