News & Analysis as of

Mergers Office of the Comptroller of the Currency

Orrick, Herrington & Sutcliffe LLP

DOJ announces its withdrawal from the 1995 Bank Merger Guidelines

On September 17, the DOJ announced its withdrawal from the 1995 Bank Merger Guidelines, stating the 2023 Merger Guidelines will be the only authoritative statement across all industries. This decision followed collaboration...more

Orrick, Herrington & Sutcliffe LLP

OCC releases final rule on the Bank Merger Act

On September 17, the OCC approved a final rule amending its procedures for reviewing applications under the Bank Merger Act. The rule will aim to provide clearer guidelines for institutions regarding the OCC’s review process...more

Nelson Mullins Riley & Scarborough LLP

New OCC Bank Merger Act (BMA) Guidance

The Office of the Comptroller of the Currency (OCC) released guidance regarding its planned changes to the Bank Merger Act (BMA).  The New Rule: Explicitly adds financial stability as a key factor for assessing mergers,...more

MoginRubin LLP

Why the Capital One-Discover Merger Makes Sense

MoginRubin LLP on

When federal agencies review bank mergers, the competition issues typically relate to the number and location of physical branches and the extent of any overlap in the areas served. By contrast, the proposed $35 billion...more

Venable LLP

The FDIC's Tougher Policy on Mergers - Why It Matters for Banks and Fintechs

Venable LLP on

The FDIC proposed revisions last month to its existing policy on how it evaluates merger transactions that require the FDIC's approval under the Bank Merger Act (BMA). ...more

WilmerHale

The Drawbacks Of Banking Regulators' Merger Review Plans

WilmerHale on

The Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency recently announced proposals to update their approaches to evaluating bank mergers and other business combinations under the Bank Merger...more

Orrick, Herrington & Sutcliffe LLP

OCC extends comment period on proposed rules for the Bank Merger Act

On April 10, the OCC announced a notice published in the Federal Register extending the comment period for the OCC’s proposed rule on bank mergers. The NPRM titled, “Business Combinations under the Bank Merger Act,” was...more

Davis Wright Tremaine LLP

Banking and Consumer Regulatory Digest - March 2024 - 2

Editor's Note - The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency,...more

Vedder Price

Update: OCC Issues Notice of Proposed Rulemaking on Business Combinations

Vedder Price on

The Office of the Comptroller of the Currency (“OCC”) recently sought comment on a proposed rule designed to increase the transparency of the standards applicable to the OCC’s review of business combinations (i.e., bank...more

Vedder Price

OCC Issues Notice of Proposed Rulemaking on Business Combinations

Vedder Price on

The Office of the Comptroller of the Currency (“OCC”) recently sought comment on a proposed rule designed to increase the transparency of the standards applicable to the OCC’s review of business combinations (i.e., bank...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

FDIC Seeks to Restrict Noncompete Agreements in Bank Mergers

On March 21, 2024, the FDIC unveiled proposed revisions to its Statement of Policy (SOP) on Bank Merger Transactions, which was last amended in 2008. The revisions would increase scrutiny of bank mergers, particularly mergers...more

Spilman Thomas & Battle, PLLC

Promissory Notes - Banking & Finance Insights: V 4, Issue 2, March 2024

Volume 4, Issue 2, 2024 Welcome! Welcome to the second issue of Promissory Notes - our banking and finance e-newsletter - for 2024. Business today is characterized by relentless change. To assist our clients in navigating...more

Proskauer - Regulatory & Compliance

Notice of Proposed Rulemaking under the Bank Merger Act to Increase Transparency

The U.S. Office of the Comptroller of Currency (OCC) released a notice of proposed rulemaking (NPR) seeking to “increase the transparency of the standards that apply to the agency’s review of business combinations involving...more

K&L Gates LLP

OCC Proposes Changes to Merger Review Process

K&L Gates LLP on

Introduction - On 29 January 2024, the Office of the Comptroller of the Currency (OCC) issued a notice of proposed rulemaking (NPR) regarding its review of Bank Merger Act (BMA) applications. The NPR was released immediately...more

Axinn, Veltrop & Harkrider LLP

The OCC's new Bank Merger Act rulemaking: Signs of life in bank merger reform?

On January 29, the Office of the Comptroller of the Currency (OCC) issued a Notice of Proposed Rulemaking for Business Combinations Under the Bank Merger Act. One element of the rulemaking in particular stands out as a...more

Venable LLP

Chalk Talk: OCC Re-Thinks Business Combinations

Venable LLP on

The OCC recently released a proposed rule and policy statement on business combinations involving national banks and federal savings associations (banks), which includes mergers, acquisitions of assets, and assumptions of...more

Orrick, Herrington & Sutcliffe LLP

OCC issues proposed rule for bank merger approvals

On January 29, the OCC announced a proposed rule for bank merger approvals under the Bank Merger Act (BMA). The OCC proposed changes to 12 CFR 5.33 to reflect its view that a business combination is a significant corporate...more

Kilpatrick

Proposed OCC Guidance Offer Clarity Around the Bank Merger Approval Process

Kilpatrick on

On January 29, 2024, the Office of the Comptroller of the Currency (the “OCC”) proposed guidance in the form of a policy statement to provide greater transparency around the factors considered by the agency when approving...more

Cadwalader, Wickersham & Taft LLP

FRB and FDIC Issue Joint ANPR on Possible Resolution Requirements for Large Banking Organizations While FRB and OCC Approve U.S....

The Federal Reserve Board (“FRB”) and Federal Deposit Insurance Corporation (“FDIC”) Board issued an Advanced Notice of Proposed Rulemaking (“ANPR”) titled “Resolution-Related Resource Requirements for Large Banking...more

Manatt, Phelps & Phillips, LLP

Top Five Takeaways From the Regulatory Orders Approving the U.S. Bank/Union Bank Combination

On October 14, 2022, the Office of the Comptroller of the Currency (OCC) and the Federal Reserve Board (FRB) both approved the acquisition of MUFG Union Bank, National Association, by U.S. Bancorp and its subsidiary U.S. Bank...more

Moore & Van Allen PLLC

Acting Comptroller Hsu Suggests a Potential Path Forward to Address Identified Gaps in the Regulatory Resolution Framework for...

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In the fourteen years since the 2008 financial crisis, significant actions have been taken by Federal banking agencies to make the largest financial institutions more resilient and less likely to fail and to require planning...more

White & Case LLP

Policy shifts may signal a new chapter in the story of globalization

White & Case LLP on

Globalization may be evolving, as nations and regions reassert their regulatory powers on a wide range of issues including trade, competition and national security. The economic lessons of COVID-19 and growing concerns about...more

Goodwin

SEC Proposes Rules to Include Certain Significant Market Participants as “Dealers” or “Government Securities Dealers”

Goodwin on

In This Issue. The U.S. Securities and Exchange Commission (SEC) proposed rules to include certain significant market participants as “dealers” or “government securities dealers” to essentially eliminate the trader exclusion...more

Goodwin

OCC Seeks Feedback on Principles for Climate-Related Financial Risk Management

Goodwin on

In this Issue. The Office of the Comptroller of the Currency (OCC) is seeking feedback on principles for climate-related financial risk management for large banks; the Department of Justice’s Antitrust Division is seeking...more

Nutter McClennen & Fish LLP

Nutter Bank Report: December 2021

FDIC Board Governance Dispute on Review of Bank Mergers Aired Publicly - CFPB Director Rohit Chopra on December 9 published on the CFPB’s website a blog post captioned “How Should Regulators Review Bank Mergers?” in...more

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