US Bank Merger Deals Poised to Face Tougher Scrutiny by FDIC.

The Federal Deposit Insurance Corp (FDIC) is planning to adopt new guidelines that would make it more difficult for US bank mergers to be approved. These guidelines, part of the Biden administration's efforts to regulate consolidation in the financial sector, would consider the impact on financial stability, competition, communities, and customers. Deals resulting in a firm with over $100 billion in assets would face a more rigorous evaluation process. The FDIC would have the authority to reject mergers that fail to meet the criteria, including whether the benefits to the community outweigh any anticompetitive effects. This move is part of a broader campaign to address concerns about competition and stability in the banking industry. [Extracted from the article]