Business Combinations under the Bank Merger Act; Rescission

Key Points

• 1The Office of the Comptroller of the Currency (OCC) is canceling an earlier regulation that set specific guidelines for bank mergers and acquisitions
• 2Bank mergers are important because they can affect the banks available to customers, the services offered, and interest rates in local communities
• 3The public has until June 17, 2025 to submit comments about whether this change is a good idea
• 4This change could make it easier or harder for banks to merge, depending on what rules replace the old ones
• 5Customers and community groups may be affected if bank mergers result in branch closures or changes to local banking services

Key Dates