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Biden Administration Presses to Scrutinize Bank Mergers, Potentially Delaying Deals

biden-administration-presses-to-scrutinize-bank-mergers,-potentially-delaying-deals

WASHINGTON—Democratic members of the Federal Deposit Insurance Corp. are pushing to review regulations around big-bank mergers, showing the Biden administration’s wider concern with such tie-ups.

Members of the FDIC met Tuesday for the first time since a partisan fight over mergers spilled into public view last week. Three Democratic members, including two appointed by President Biden, sought to launch a regulatory process related to mergers without the support of the chairman of the agency, a Trump-era holdover. The FDIC is one of three federal bank regulators with a role in approving bank mergers. The group also includes the Federal Reserve and the Office of the Comptroller of the Currency.

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