Federal Deposit Insurance Corp. staff will have to brief the agency’s board to justify any bank merger reviews lasting longer than 270 days under a proposal the regulator adopted unanimously.
The measure, proposed by FDIC Vice Chairman Travis Hill, is aimed at reducing the time it takes for examiners to approve or block a proposed tie-up between banks. The resolution comes as the FDIC and other federal banking and antitrust regulators are looking to toughen their standards for approving deals.
FDIC bank merger reviews taking longer than 270 days reached 12 in 2022, 16 in 2023, and 11 so ...
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