DOJ Must Fix 'Lax' Bank Merger Oversight, FTC's Chopra Says

Law360 (October 16, 2020, 6:35 PM EDT) -- One of the Federal Trade Commission's two Democrats on Friday called on his antitrust enforcement peers at the U.S. Department of Justice to fix what he described as a long-running pattern of overly permissive banking sector merger enforcement.

Commissioner Rohit Chopra argued that any tweaks to the department's bank merger review guidelines — under the microscope in a public comment period that closed Friday — need to "reject the current failed approach" and instead recognize the broad implications of bank mergers with more rigorous review standards.

"To date, the bank merger guidelines have failed to protect consumers, businesses, and the broader financial...

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