The Banker, September 19, 2024, Industry Groups Criticise ‘Opaque’ US Bank M&A Rules
National Community Reinvestment Coalition CEO Jesse Van Tol welcomed the move to better protect the public from “harmful mergers, as community advocates have long called for, by ensuring that the needs of everyday people are properly considered in these vital decisions”.
The FDIC emphasises the expectation that a merger would enable the resulting institution to “better meet the convenience and needs of the community to be served”.
The National Community Reinvestment Coalition has been campaigning against the proposed $35bn banking merger between Capital One and Discover Financial Services “which would harm consumers and low-income communities if allowed to proceed”.
