Saturday, July 20, 2024

FDIC seeks public comments about bank merger policies

The FDIC is accepting public comment on its proposal to change how the agency will evaluate bank merger applications.

Among other things, the proposal would broaden the number of competitive factors the FDIC will take into consideration when deciding whether to approve or deny applications. The agency would also require a “thorough accounting” of the potential effects on communities, including possible branch closures or relocations.

The FDIC board voted 3-2 in March to pursue the proposed revisions. ABA has raised concerns about the proposal, saying it could introduce more unpredictability and delays in the merger approval process.

Comments on the proposal are due June 18 and will be made public on the FDIC website.