Federal banking agencies provide little clarity and much uncertainty in their review process for proposed bank mergers, Republican lawmakers said Wednesday during a House oversight hearing of the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency.
“Clear expectations and timeliness surrounding merger reviews are critical so banks can make informed decisions about whether to pursue a merger when approval is likely or withdraw an application when it is not,” said Rep. Andy Barr, R-Kentucky, chair of the House Financial Services Subcommittee on Financial Institutions and Monetary Policy.
