Reg Rollbacks Seen As Bit Player In $28B BB&T-SunTrust Deal
Law360 (February 11, 2019, 10:38 PM EST) -- Democratic lawmakers are pushing back on the $28 billion merger between BB&T and SunTrust as a potentially dangerous byproduct of recent efforts to loosen post-crisis regulations on big banks, but financial services attorneys told Law360 that this deregulation is only a minor player in this latest episode of banking industry consolidation.
Announced on Thursday, the megadeal would see North Carolina-based BB&T Corp. acquire Georgia-based SunTrust Banks Inc. for about $28 billion in stock, and marks the biggest bank tie-up since the financial crisis, creating the sixth-largest U.S.-based retail bank with roughly $442 billion in total assets.
Executives at the two regional...
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