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The Federal Deposit Insurance Corporation (FDIC) has approved a proposal to roll back a Biden-era policy that increased scrutiny on large bank mergers. The decision, announced Monday, reinstates the pre-2024 merger policy while the agency reassesses its review process.
This move, led by the Republican-controlled FDIC, reverses stricter regulations imposed by the previous Democratic leadership, which aimed to heighten oversight of mergers involving large financial institutions. The 2024 policy required public hearings for bank mergers resulting in assets exceeding $50 billion and mandated heightened financial stability reviews for those surpassing $100 billion.
The rollback aligns with a broader shift under the pro-business Trump administration, which contrasts with Biden-era policies that pushed for tougher regulatory scrutiny on corporate mergers. Banks have long criticized the merger approval process as overly complex and opaque. The Bank Policy Institute, representing large financial firms, opposed the 2024 policy, arguing it created regulatory uncertainty and exceeded Congress’s intended oversight.
By reverting to the prior framework, the FDIC aims to provide a more predictable path for bank mergers while conducting a comprehensive evaluation of its policies.
