FDIC Approves Rollback of Biden-Era Bank Merger Plan

The Federal Deposit Insurance Corp. approved a proposal to rescind a Biden-era policy that required US bank mergers to face steeper regulatory scrutiny.

“The proposal approved today seeks to address concerns the 2024 Statement added considerable uncertainty to the merger application process,” the FDIC said in a statement on Monday.

The 2024 bank merger guidance was a part of the Biden administration’s effort to clamp down on consolidation among financial firms.

Read More: US Bank Merger Deals Face Tougher Scrutiny for US Approval

The agency’s proposal will reinstate, on an interim basis, the merger policy that was in effect prior ...