- The U.S. Federal Deposit Insurance Corporation on Thursday is set to become the latest American regulator to propose new policies for mergers among banks amid the instability that continues to rattle midsize lenders.
After three of the largest-ever U.S. bank failures last year, lawmakers from both major parties have lambasted the FDIC's handling of subsequent mergers.Financial reform advocates such as Democratic Senator Elizabeth Warren have expressed outrage that regulators allowed Wall Street giant JPMorgan Chase & CO, already the nation's largest bank, to acquire the failed First Republic Bank last year.
Bank executives on the other hand have complained that regulators' foot-dragging has helped depress merger activity among healthy banks to historic lows. Despite misgivings about New York Community Bank's exposure to commercial real estate and earlier concerns from FDIC officials, OCC in 2022 approved its merger with Flagstar Bank of Michigan.
Trump complained that he might have to mortgage or sell assets to afford a $464 million bond on the appeal of his civil fraud conviction.
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