Washington, D.C. — BPI President and CEO Greg Baer issued the following statement on the OCC proposal on bank M&A released today:
Missing from the Acting Comptroller’s remarks and related regulatory proposal was any mention of how today’s lengthy, opaque and uncertain supervisory review process discourages banks from even contemplating a potential merger in the first place. And remarkably, today’s action seems to be headed in an even more problematic direction: it would eliminate existing regulatory provisions intended to allow for expedited decision-making for routine and noncontroversial transactions, including internal business reorganizations.
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The Bank Policy Institute (BPI) is a nonpartisan public policy, research and advocacy group, representing the nation’s leading banks and their customers. Our members include universal banks, regional banks and the major foreign banks doing business in the United States. Collectively, they employ almost 2 million Americans, make nearly half of the nation’s small business loans, and are an engine for financial innovation and economic growth.
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