WASHINGTON—The Office of the Comptroller of the Currency (OCC) today approved a final rule updating its regulations for business combinations involving national banks and federal savings associations and a policy statement clarifying its review of applications under the Bank Merger Act (BMA).
The final rulemaking is part of the OCC’s effort to enhance transparency around its process of reviewing transactions under the BMA. It also provides additional guidance to stakeholders around the OCC’s review of applications. The policy statement specifically discusses:
“The diversity of the banking system is critical to the nation’s communities, consumers and economy,” said Acting Comptroller Michael J. Hsu. “This final rule and policy statement provide clarity and transparency around the OCC’s consideration of bank mergers to improve outcomes to benefit communities, enhance competition, and support a diverse banking system.”
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