A Biden administration rule calling for tougher reviews of bank mergers is poised for repeal after a vote in the US House.
The House on Tuesday voted 220-207 to repeal the Office of the Comptroller of the Currency’s bank merger rule using the Congressional Review Act. The resolution (S. J. Res. 13), which the Senate passed May 7, now heads to President Donald Trump’s desk.
The OCC’s September 2024 rule—part of former President Joe Biden’s broader focus on antitrust issues—got rid of a decades-old policy under which the regulator automatically approved proposed bank mergers on the 15th ...
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