US Bank Merger Deals Face Tougher Scrutiny for US Approval (1)

US bank mergers will face steeper regulatory hurdles under new guidelines from three agencies, the latest in the Biden administration’s effort to clamp down on consolidation by financial firms.

On Tuesday, the Federal Deposit Insurance Corp. voted 3-2 to add layers of scrutiny that more directly take into account an acquisition’s effects on financial stability, competition, communities and customers. The Justice Department and the Office of the Comptroller of the Currency also announced changes and guidance on how they will evaluate bank deals.

Read More: FDIC Meeting May Cement Tough Bank Merger Policies

For a deal to win FDIC ...