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."
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The FTC and DOJ ordered MoneyGram to refund $115 million to nearly 40,000 consumers for its continued failure to protect against fraudulent scammers using their payment system.
The DOJ obtained more than $31 million to resolve allegations against a bank for engaging in redlining practices in predominantly Black and Hispanic neighborhoods in Los Angeles County and for discouraging residents in those neighborhoods from applying for mortgage loans.
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.