All articles tagged with #bank mergers
Originally Published 2 months ago — by CNBC
HoldCo Asset Management, a small hedge fund, is actively challenging underperforming regional banks in the US through public campaigns and proxy battles, aiming to improve shareholder value and accountability, and has already influenced major deals like Comerica's sale to Fifth Third.
Originally Published 6 months ago — by Reuters
Regulatory changes under the Trump administration have revived hopes for bank mergers in the US, especially among regional banks, as easing criteria and a more permissive environment encourage industry consolidation, with major banks and regulators signaling increased deal activity in the near future.
Originally Published 1 year ago — by Federal Reserve
Governor Michelle W. Bowman expressed concerns about the regulatory trajectory and its impact on the future of banking, particularly focusing on bank mergers and acquisitions, de novo bank formation, and regulatory approvals in the banking system. She highlighted the challenges faced by banks, especially smaller ones, in complying with voluminous regulatory changes and emphasized the need for a more focused and prioritized reform agenda. Additionally, she raised concerns about the evolving approach to bank mergers and acquisitions by prudential regulators, emphasizing the importance of improving the speed and timeliness of regulatory decision-making and ensuring that the regulatory review process is fair, transparent, and consistent with applicable statutes.
Originally Published 1 year ago — by Federal Reserve
Governor Michelle W. Bowman addressed the ABA's Conference for Community Bankers, emphasizing the importance of defining and treating community banks fairly within the regulatory framework. She highlighted the need for effective prioritization of risks, improved transparency, and predictability in the bank regulatory framework, and emphasized the importance of tailoring regulations to the activities and risks of community banks. Governor Bowman also encouraged stakeholders to provide input during the interagency effort to reduce regulatory burden, stressing the significance of preserving the role of community banks in the banking system.
Originally Published 2 years ago — by POLITICO
Senator Elizabeth Warren has criticized Treasury Secretary Janet Yellen and Acting Comptroller of the Currency Michael Hsu for signaling an openness to further bank consolidation amid industry weakness exposed by the meltdowns of Silicon Valley Bank and other lenders. Warren warned that allowing additional bank consolidation would hurt American consumers and small businesses, betray President Biden’s commitment to promoting competition in the economy, and threaten the stability of the financial system and the economy. Warren’s rebuke revealed a major new rift with top Biden administration officials over economic policy, in what will likely be just the beginning of a push by her to curtail mergers involving large banks.
Originally Published 2 years ago — by The Wall Street Journal
Janet Yellen, the US Treasury Secretary, has stated that she expects to see more bank mergers this year due to the current regulatory environment and economic outlook. She believes that consolidation in the financial industry will continue as smaller banks struggle to compete with larger institutions.
Originally Published 2 years ago — by POLITICO
The US Department of Justice (DOJ) is expanding its scrutiny of bank mergers, looking at a broader scope of criteria and further empowering independent regulators to take the lead. The DOJ will move away from negotiating deals with merging banks to divest of specific branches as part of its signoff of the union. The new approach is sure to put the banking sector on high alert. The industry has been undergoing rapid consolidation for years, and progressives have been urging the White House and Congress to take action.
Originally Published 2 years ago — by Reuters
Shares of US regional banks fell after Treasury Secretary Janet Yellen told bank CEOs that more mergers may be necessary following a series of bank failures. The KBW Regional Banking Index fell 2.2%, with PacWest Bancorp and Western Alliance among the biggest losers. The regional bank crisis has been partly blamed on aggressive interest rates by the US Federal Reserve. Fed Chairman Jerome Powell said the after-effect of recent banking sector troubles is expected to take some pressure off the US central bank's interest rate hiking cycle.
Originally Published 2 years ago — by MarketWatch
The KBW Regional Bank index slumped over 3% after a report that Treasury Secretary Janet Yellen told bank chief executives that more mergers may be necessary, raising the prospect that more regional banks would have to be bought by larger too-big-to-fail firms. The Treasury Department confirmed the meeting but did not include the point about the possible need for further mergers in its readout.
Originally Published 2 years ago — by Reuters
JPMorgan's acquisition of First Republic Bank has forced the Biden administration to defend its stance on mergers, with officials scrambling to explain how their opposition to mergers squares with allowing the largest US bank to get even bigger. While Senator Elizabeth Warren criticized the decision, White House press secretary Karine Jean-Pierre said the acquisition was necessary to ensure the continued resilience of the banking system and came at no cost to taxpayers. The deal comes amid increased discussion among US regulators about tightening rules on bank mergers, with officials growing worried that consolidation could undermine financial stability and leave communities wanting for services.
Originally Published 2 years ago — by Yahoo News
JPMorgan's acquisition of First Republic Bank has put the Biden administration in a difficult position, as officials scramble to explain how their stance against mergers aligns with allowing the largest US bank to get even bigger. While Senator Elizabeth Warren criticized the decision, White House press secretary Karine Jean-Pierre defended the acquisition, stating that it was necessary to ensure the continued resilience of the banking system and came at no cost to taxpayers. The deal comes amid increased discussion among US regulators about tightening rules on bank mergers, with officials growing worried that consolidation could undermine financial stability and leave communities wanting for services.
Originally Published 2 years ago — by Yahoo Finance
JPMorgan Chase's acquisition of First Republic Bank has forced the Biden administration to defend its stance on mergers, with officials scrambling to explain how their opposition to consolidation squares with allowing the largest US bank to get even bigger. White House press secretary Karine Jean-Pierre said the deal was necessary to ensure the continued resilience of the banking system and came at no cost to taxpayers. The acquisition comes amid increased discussion among US regulators about tightening rules on bank mergers, with officials growing worried that consolidation could undermine financial stability and leave communities wanting for services.