Reuters exclusively reports White House to target bank mergers, financial data with competition order
Reuters exclusively reported that President Joe Biden’s planned executive order to promote greater U.S. competition will target bank mergers by pushing […] The post Reuters exclusively reports White House to target bank mergers, financial data with competition order appeared first on Reuters News Agency.
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Reuters exclusively reported that President Joe Biden’s planned executive order to promote greater U.S. competition will target bank mergers by pushing the Federal Reserve and the Department of Justice to update merger guidelines and increase scrutiny of deals. It will also ask the Consumer Financial Protection Bureau (CFPB) to issue rules giving consumers full control of their financial data to make it easier for customers to switch banks. The planned order is likely to chill M&A in the banking sector after a rash of deals unleashed by the Trump administration’s more industry-friendly regulatory policy.
The post Reuters exclusively reports White House to target bank mergers, financial data with competition order appeared first on Reuters News Agency.
