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.
News & Insights
In testimony before the Senate Banking Committee, witnesses warned against the dangers of excessive concentration in banking, increased systemic risk resulting from bank mergers, and threats to small business.
Senator Elizabeth Warren (D-MA) urged banking agencies to “accelerate” updating the bank merger review guidelines following the bank failures in March 2023.
U.S. Assistant Attorney General for the Antitrust Division Jonathan Kanter questioned whether the 1995 bank merger guidelines are "adequate to measure and assess the many different dimensions of competition that exist today," in light of "an industry that has experienced some recent turmoil."
The Federal Reserve Board approved UBS Group AG's application to acquire the U.S. subsidiaries of Credit Suisse Group AG.